"Apply for an emergency suspension from the exchange immediately, and also ask me for appointing Mr. Huo Liyi as soon as possible. I will sue Merrill Lynch Bank to the China Securities Regulatory Commission for disrupting the market!" Chen Songqing's face turned a little distorted due to anger at this moment, and he almost roared at the assistant next to him.

As soon as the stock market opened today, Zhou Yang directly sold 5 million shares of Jianing Real Estate stocks in one breath. Chen Songqing also tore off his disguise and went to Yingzhong Securities to take charge of the command, and made every effort to deal with Merrill Lynch's huge selling.

This Yingzhong Securities is the brokerage firm responsible for manipulating the stock prices of listed companies for Chen Songqing. Previously, the self-buying and self-selling behavior of several listed companies was basically completed through this brokerage firm.

Chen Songqing didn't have much cash in his hand, so he simply misappropriated the book funds of the listed company and absorbed the stocks sold by Zhou Yang. If there were no active cooperation from brokers, Chen Songqing's various illegal operations would have long been exposed.

Even though Chen Songqing tried his best, the stock price of Jianing Real Estate was still dropped to HK$9.62 from HK$10.03 at the close of yesterday.

Just as Chen Songqing tried every means to mobilize funds and was about to return the stock price a little further, a new bad news suddenly came.

Merrill Lynch announced at noon that it would launch a waning wheel product related to Jianing Real Estate, with the lowest exercise price of subscription warrants even lower than the terrifying HK$5.

There are many smart people in Hong Kong. Many investors immediately issued Merrill Lynch’s WoW products and the stock price of Jianing Real Estate. There is huge arbitrage space between them.

If an investor shorts the shares of Jianing Real Estate at a price of HK$10, he or she will purchase the Ganing subscription round issued by Merrill Lynch at a price of HK$5.

Regardless of whether the stock price of Jianing Real Estate rises or falls in the future, deducts the turbo cost of HK$1.6 and closes the position after exercising the right next month, and a net profit of HK$3.4 per share will still be available.

There is almost no risk here, and the opportunity to get money for nothing can be said to be a rare encounter in a century. So today, the second round of selling frenzy of Jianing Real Estate arrived in the afternoon!

Pedal Street, Central, Chinese Bank, and HSBC Bank temporary headquarters.

Because the HSBC Building began its fourth reconstruction not long ago, HSBC headquarters temporarily moved to the Chinese Walking Building, also located in Central.

"Mr. Chen from Jianing Group just called and hoped that we could freeze the stocks pledged by Jianing Real Estate in our place and would not borrow them for the time being!"

Shen Bi's secretary knocked on the door, then walked into the office of the senior class and said to the boss who was looking down to read the information.

"You can help me reply to Mr. Chen, we will not lend his company's shares again. In addition, notify Mr. Yuan Langda and ask him to come to my office immediately!" Shen Bi, chairman of the board of directors of HSBC, raised his head and said a few words to the secretary, then lowered his head to check the information again.

Shortly after the secretary left, a knock came from outside Shen Bi's office. This time the person who came in was Yuan Langda, the CEO of Huodoli Securities.

Hudoli is a wholly-owned securities subsidiary of HSBC Bank, and it is also a merger and acquisition consultant of Jianing Group. Chen Songqing's various large-scale acquisitions over the past year have basically been assisted by Hudoli Securities.

"You have a lot of contact with Chen Songqing. Have you noticed any problems with him?" Shen Bi asked straight to the point.

"Mr. Chen's background has always been shrouded in fog, and there are many speculations on the Hong Kong market." Yuan Langda thought for a while and said.

"I have no interest in Chen Songqing's origin. Merrill Lynch Bank seems to be targeting him. I want to know if there are any serious problems he and Jianing Group that we have not discovered." Chen Bi frowned and said.

"Chen Songqing has always said that he is not short of funds. In fact, since last year, he has transferred at least $500 million in funds from overseas to Hong Kong.

We have not investigated the source of these funds in detail, which may be the biggest hidden danger." Yuan Langda also quietly changed the name of Chen Songqing and no longer called him Mr. Chen.

"Is there any problem with the debt ratio of several companies in Jianing?" Chen Bi asked with sharp eyes staring at Yuan Langda.

"If the US$500 million I mentioned earlier are not included, the debt level of Jianing Group is not high among Hong Kong real estate companies, otherwise it will not be able to pass the review of our HSBC risk control department!" Yuan Langda replied calmly.

HSBC's credit exposure to the Jianing Group was as high as HK$500 million, and the pledges were mainly stocks of several listed companies. After Merrill Lynch's short-selling Jianing Real Estate, Chen Bi immediately felt uneasy.

"Sell all the Jianing Real Estate stocks in our hands, and then buy some of the Merrill Lynch's wreck rounds to hedge them. Don't let Chen Songqing know about this!" Chen Bi issued an order.

Since there is a huge impairment risk in Jianing Real Estate's stock, Chen Bi must take some remedial measures to reduce the risks borne by HSBC.

Yuan Langda nodded and said that he had understood. When he left Chen Bi's office, his back was already covered in cold sweat.

As a senior financial understanding, Yuan Langda had long noticed something was wrong with Chen Songqing. However, Chen Songqing took advantage of the situation and launched a silver bullet attack on him. After Yuan Langda was fed, he turned a blind eye to many things and regarded them as if he had not seen them.

Now that Chen Bi personally issued the instructions, Yuan Langda naturally did not dare to play tricks and meticulously executed the orders of his superiors. After a big player like HSBC, the stock price of Jianing Real Estate could no longer hold back and quickly fell below the two major marks of 9 yuan and 8 yuan. Finally, it barely defended the 7 yuan mark and closed at HK$7.01 per share.

Compared with the morning opening price, this price plummeted by 30% in one day. The previous exercise price of 8 yuan and 7 yuan instantly became waste paper.

Many investors who bought the Wandun in large amounts in the morning are now crying and can only fantasize about the fact that Jianing's stock price can rise again in the future.

Chen Songqing used another HK$250 million in cash to support the stock price today, but later he saw that the selling orders of Jianing Real Estate was too terrifying, so he could only leave the C and temporarily abandon the stock price of Jianing Real Estate.

Fortunately, Merrill Lynch did not launch a round of treasury from Yida Investment and Overseas Chinese Real Estate. These two listed companies have no obvious arbitrage space, and the selling wave will not be so terrifying.

With the intervention of Chen Songqing's large amount of funds, Yida Investment and Overseas Chinese Real Estate's stock prices today only fell by 8.5% and 9.8% respectively.

Today is definitely the darkest day in history for Chen Songqing. The market value of the three listed companies in Jianing lost more than HK$2 billion in one day.

Fortunately, the exchange agreed that the three listed companies would temporarily suspend trading tomorrow, otherwise if the stock price continued to plummet, the bank would soon ask Chen Songqing to replenish the collateral.

After the stock market closed, Chen Songqing finally met Mr. Huo Liyi, the securities regulatory specialist of the China Securities Regulatory Commission. He complained to the other party that Merrill Lynch had naked short selling of Jianing Real Estate stocks in an extremely angry tone.

In order to harvest the stock price, Merrill Lynch even launched outrageously priced woven products, which seriously disrupted the market order and caused extremely heavy losses to investors who hold stocks of listed companies such as Jianing Real Estate.

Chen Songqing hopes that the CSRC will immediately seize Merrill Lynch’s wheel products and conduct a thorough investigation into Merrill Lynch’s illegal operations.
Chapter completed!