Rebirth of the Wild Age

The Chinese stock market in 2005 was hard to describe for stock investors, and many jokes and true stories were born because of this.

This year, there is such a joke: There are many good things in China, but there are two things that cannot be talked about. One is that China's football is ugly, and the other is that China's stock market is as ugly as football.

At the capital forum held in Shencheng this summer, a retired veteran cadre with gray temples stood at the door and yelled at the leaders of the three commissions (Banking Regulatory Commission, Securities Regulatory Commission, and Insurance Regulatory Commission): I have lost all my life savings in the stock market. How will I live in the future, or how will I live in the future... Immediately, the old cadre was blocked by the security guards, and a senior leader looked at the old man hesitantly, and finally turned and walked into the meeting place.

Just at the beginning of June, the Shanghai Composite Index was broken down by 1,000 points. This has caused countless investors who have experienced a big bear market for several years and thought they were about to bottom out and rebound completely lost their confidence, and they looked like walking dead in a daze.

In the Chinese stock market, there is no worst bear, only more bear!

Faced with such a situation, the central government couldn’t sit still. While rectifying market order, it prompted a large number of social security funds to enter the market, and also instigated numerous institutional investors to enter the market with a high profile, and accelerated the introduction of new policies for the reform of state-owned shares. This series of actions is all to save the market, but retail investors have been frightened. They are too deeply trapped, and they don't believe that the market can be pulled up.

Take the beginning of the year as an example, the government lowered the stamp duty in order to stimulate the stock market. Sure enough, the Shanghai Composite Index rose by nearly 100 points in a month, but many investment institutions took the opportunity to sell and unwind, followed by a four-month plunge.

Now that the government is stimulating the stock market again, and the Shanghai and Shenzhen indexes have risen again, the first reaction of stockholders is to sell quickly, otherwise they will be cut by the dealer again.

Deep city, big family room.

Although with the popularization of computers and the Internet, more and more people like to sit in front of the computer and speculate in stocks, but the exchange is still very lively, and the big room is still the existence that small retail investors like to talk about.

Liu Peng, who once lent his big family room to Song Weiyang and witnessed Boss Song selling Qiong Minyuan at a high position, is still jumping in the stock market at this time. Most of the stocks in his hand were locked up. Fortunately, he bought 80,000 shares of Hongdu Aviation by luck. The airline ordered 40 planes in March, and bought another 27 planes in August. It is in the stage of rapid expansion, so the stock price has reached the daily limit for several consecutive times at the end of August.

Boss Liu, do you really want to sell it? the trader asked.

The big family room was filled with smoke, Liu Peng took a sharp puff on the cigarette, then slammed it out fiercely, and gritted his teeth: All sold out!

Although Hongdu Airlines is still rising, Liu Peng is a senior Chinese stock investor. Before China had a formal stock exchange, he had already speculated on the side of the road in Chengdu. Hongdu Aviation has grown against the trend for more than three months. If you don't throw away the stocks in your hand, you will definitely suffer several consecutive lower limits. Because this stock has risen too mysteriously, the dealer is probably sharpening his sword and rushing to pigs and sheep.

After selling Hongdu Aviation, Liu Peng carefully checked other stocks he held. The more he looked at it, the worse his expression became, because the computer screen was all green, and several of them belonged to high-level lock-ups.

Take BOE as an example. In 2003, it spent US$350 million to acquire the panel business of South Korea's Hyundai Electronics. In the same year, it spent HK$1.064 billion to acquire a 26.77% stake in TPV Technology. In the same year, it spent US$1.2 billion to build its own fifth-generation tft-lcd production line. . Nearly 2 billion US dollars were thrown out within a year. At that time, the stock price plummeted after a sharp rise, because shareholders were worried that BOE would spend too much money, and they were afraid that the unfavorable expansion would cause the capital chain to break.

But in 2004, BOE gave a perfect financial report, and invested 1.2 billion US dollars to build a production line, which will be officially put into production in 2005. A series of good news caused the stock price of BOE to soar against the market. It was at that time that Liu Peng entered the pit at a high level.

Who knows, the global panel market, which has been booming for several years, suddenly fell into a quagmire this year, and the financial reports of BOE are getting uglier every time.

Liu Peng was not willing to cut the meat at the time. He predicted that after BOE's production line was put into production, the stock price would definitely rise back. But it fell even worse. BOE has already lost money and is being chased by many banks. Most of the nearly 2 billion US dollars used for expansion in 2003 were borrowed from banks, only in South Korea. Banks have lent $210 million.

Looking at the clumsy big-headed display screen, Liu Peng smoked cigarettes one after another, and it took him a long time to hold back a sentence: Xiao Chen, LCD screens are popular now, why do you still use glass screens in your big family room? ?”

The trader Xiao Chen was stunned, and smiled wryly, How do I know this?

Liu Peng complained: Exchanges are reluctant to change LCD screens. How can you make LCD screen manufacturers make money? If LCD screens cannot be sold, BOE's panels will have no customers!

Trader Xiao Chen didn't say anything more, he knew that Boss Liu was tricked by BOE so much that he wanted to jump off the building.

Hey, what's going on? Liu Peng asked suddenly.

Trader Xiao Chen hurriedly went to see it, and saw that BOE suddenly became popular. He immediately judged: Someone is eating a lot, Boss Liu, this is a good opportunity to cut meat!

It's really a good opportunity to cut meat, because no one wanted to cut meat before.

Wait, I'll take a look again. Liu Peng felt very strange.

BOE has reported monthly losses this year, and its corporate debt ratio is so high that it is hopeless. Moreover, the panel industry has fallen into a global cold winter, which is completely a mud that cannot be supported. How could someone use BOE as the dealer?

Is there some unknown inside information?

But even if there is good news, at most BOE was included in the share reform list. The stock reform is not a panacea. The state-owned legal person shares of BOE are less than 30%, and all of them are changed to private ownership.

More and more retail investors have noticed the situation of BOE. Those who bought at a low price in the first half of last year quickly seized the opportunity to cut their meat and leave the market, for fear that no one would buy their meat if they moved too slowly.

Liu Peng ate lunch in the big family room. He watched BOE's stock price soar all the way, and in the afternoon, it went straight up to the daily limit!

What the hell?

Although the stock price has gone up and down, the trading volume is still rising, and the person who bought a lot of money behind his back has refused to stop until now.

Liu Peng laughed suddenly, and he concluded: This is not someone who is setting up a bureau, but someone who wants to join the board of directors of BOE! Guan Gong is on the top, and the stock god blesses me. I can finally solve the problem. By the way, look at the b shares What's the situation...Mom sells batches, and the b-shares have also been pulled to the daily limit, who is so generous?

the capital.

The founder of BOE, Wang Dongsheng, is meeting with the leaders to discuss the reform of BOE’s shareholding.

In order to stimulate the stock market, since last year, a large number of listed companies have reformed their shares in batches. These enterprises all contain state-owned legal person shares, and there are many problems, rigidity and difficulty, which drag down the entire stock market, and the problems left over from history must be dealt with as soon as possible.

Suddenly, the phone rang.

Wang Dongsheng put his hand into his trouser pocket calmly, quickly pressed the hang up button, and then continued to talk to the leader with a smile.

Just after hanging up the phone, the phone rang again.

Wang Dongsheng planned to turn off the phone directly this time, but the leader said: You answer the phone first, don't miss anything important.

Wang Dongsheng immediately got up with a smile, walked out of the leader's office quickly, answered the phone in the corridor and asked, What's wrong?

Mr. Wang, something serious happened, an urgent voice came from the phone, Our stocks, A and B, all have daily limit!

Wang Dongsheng thought he heard it wrong: Limit up? Are you sure it's not the limit?

The subordinate said: It's really a daily limit, and the trading volume is still increasing after the daily limit. However, the increase in trading volume has slowed down now. Many retail investors want to wait and see tomorrow's market, and they are reluctant to sell.

Even if BOE has a daily limit, the stock price is still pitifully low, and most of the sales now belong to cutting meat.

I see.

Wang Dongsheng hung up the phone, quickly returned to the office, and said to the leader: BOE's A and B shares have both reached their daily limit, and I'm afraid someone wants to hostile takeover!

The leader also understands financial knowledge: If it is a hostile takeover, it is too obvious and too impatient. How can you not make fake moves and just buy the stock to the daily limit within a day?

Wang Dongsheng said: It can only explain one problem. The other party already has too much money to use tactics.

Suddenly, the phone rang again.

The leader instructed: Just pick it up here.

Wang Dongsheng took out his mobile phone, glanced at the screen, raised his head and said to the leader, It's an unfamiliar number.

The leader immediately sat up straight, and his whole body became tense. He was ordered to discuss the BOE share reform plan, which is not only a commercial issue, but also a major political task. BOE's acquisition of Hyundai's electronic panel business three years ago was the most costly state-owned acquisition of an overseas company ever approved by China. Then it spent more than 1 billion US dollars to build a fifth-generation panel production line, which is regarded as one of the important layouts for the development of China's technology industry.

What's more, BOE still owes a huge amount of funds to the government and banks, and if you don't pay attention, it will be in vain. I don't know how many people are staring at it.

BOE's tradable shares exceed 40%. Once there is a hostile takeover by foreign forces, and it becomes the largest shareholder, it is acceptable to manage and develop well. If it messes up, it will drive countless people crazy.

Wang Dongsheng let out a mouthful of turbid air, calmed down and said, Hello, hello!

A voice came from the phone: Mr. Wang, hello, I'm Song Weiyang.

Boss Song? Wang Dongsheng had a vague guess in his heart.

Song Weiyang smiled and said, Sorry, Mr. Wang, I didn't say hello to you beforehand.

Wang Dongsheng asked: Boss Song made the move today?

Song Weiyang said, Well, it's me. I've bought a lot of stocks, and I'm going to raise my cards tomorrow.

Song Weiyang? The leader asked quickly.

It's him. Wang Dongsheng answered while clutching his phone.

The leader finally breathed a sigh of relief, with a smile on his face, as long as it is not from foreign forces. Moreover, Song Weiyang's reputation has always been good. Except for flipping Lenovo's stock in the early years, he has never played financial tricks since then, and has always operated or invested honestly. With Song Weiyang's strong financial resources, if he takes a fancy to BOE, it will definitely be a great thing for the struggling BOE.

Wang Dongsheng asked: What's Boss Song's plan?

Song Weiyang said: I took a fancy to BOE's patents. China Science and Technology is investing billions in a research and development plan, which involves some of BOE's panel technologies, so I bought BOE.

Buy it? Wang Dongsheng didn't understand.

Well, at least 20% of the shares must be held, Song Weiyang said. The shareholding institutions in Hong Kong City, many of the outstanding B-shares in their hands have been bought by me at a premium.

Wang Dongsheng almost vomited blood when he heard this. If Song Weiyang owns 20% of the shares, he would become the second largest shareholder after the state-owned legal person shares.

Seeing that Wang Dongsheng was silent, Song Weiyang comforted him, Don't worry, my shareholding has just passed 15%, and it's still far from 20%.

Wang Dongsheng: ...

Before the implementation of BOE's shareholding reform plan, the 15% shareholding was also the second largest shareholder!

Wang Dongsheng asked: Mr. Song wants to intervene in the management and operation of BOE?

Song Weiyang said: Of course not. At most, I have a name on the board of directors. But I also want to make a request. I hope that BOE will continue to develop on the basis of the existing patents, and cooperate with Shenzhou Technology's smartphone plan.

I...Mr. Song, you are really generous. Wang Dongsheng really wanted to say that Song Weiyang had too much money to digest, and in order to develop smartphones, he spent a lot of time buying BOE shares.

Even if you don't buy BOE, won't I sell you cell phone panels in the future?

Wang Dongsheng himself could not have predicted that BOE, which is now in a desperate situation, will become the second largest patent owner in China after Huawei and ZTE in ten years. The number of available patents owned by BOE has reached the seventh place in the world.

These patents alone are worth buying by Song Weiyang at the bottom - if they don't buy them, BOE's stock price will bottom out and rebound.

The next day, Song Weiyang directly used his own name to put up a placard, and at the same time published the news in many domestic newspapers.

Shenzhou Technology has no extra funds for acquisitions, unless it runs to find a bank loan, and Jinniu Capital will save the money to subscribe for ICBC shares next year. So Song Weiyang bought BOE this time with his own money. The funds came from selling Google shares. Google’s stock price has already exceeded 300 US dollars. According to the agreement, he sold some more.

It's just a one-time card raise, and there are people in the stock market who raise their cards every year.

But this time Song Weiyang used his real name to raise a placard, which directly detonated the Chinese stock market. Not only investment institutions use Song Weiyang to hype, but even the government is fueling the flames. With the blessing of Song Weiyang, a stock god, the Chinese stock market has ended nearly half a year earlier than in history, and the bear market that lasted for several years ended.

You just need to tell the stockholders that the richest man, Song Weiyang, has entered the market!

No matter how high-profile other rich people enter the market, they may be regarded as the leeks of the manor. But Song Weiyang has never cheated stockholders so far, and it is said that he has never missed a shot, and even has a record of defeating Soros head-on. The old man came to meddle. Doesn't it mean that the Chinese stock market is about to pick up?

Anyone with a discerning eye, including many retail investors, can see that this is just a normal acquisition, but they don't expose it, and even add fuel to the fire. As a result, the rumors in the stock market became more and more evil, and a large number of stockholders moved after hearing the news, and rushed to buy BOE. If they couldn't buy BOE, they went to buy other stocks.

This operation made it impossible for Song Weiyang to receive BOE stocks, because the daily limit has only been bought, not sold.

Song Weiyang was very speechless, he even had an urge to cut leeks. You only need to sell wildly to make a lot of money, and you can buy it back after driving down the stock price. Repeated tossing can make retail investors want to die.

Think about it or forget it, this kind of method is too cheap, and your reputation will be ruined once you play it.