Having seen off Tong Jialu, Chen Cheng drove to the vicinity of the CGG Tower.
Before he even entered the parking garage, he saw a large crowd gathered in front of the building’s plaza, emotionally waving their banners and placards.
"CGG, return our hard-earned money!"
"Pausing redemptions is akin to fleeing!"
"Severely punish financial fraud!"
Various slogans fluttered in the air, and the crowd erupted into cheers, cries, and curses from ti to ti, creating a chaotic and noisy scene.
Around thirty security guards, holding hands, were barely forming a human wall, trying to keep the protesting crowd outside the cordon, but they were clearly struggling as people repeatedly broke through the line, attempting to rush into the building.
The building’s glass revolving door had already been locked. Through the glass, Chen Cheng saw security guards inside also standing guard, the atmosphere tense.
Journalists with caras darted among the people, their flashlights flickering non-stop, capturing every event unfolding.
An old man leaning on a cane tightly clutched a CGG financial product contract in his hand, mumbling:
"All my retirent money is in this; how can there just suddenly be a problem?"
A middle-aged woman beside him echoed, "Exactly, everything seed so reliable when we bought it, and now this happens. What are we supposed to do?"
Chen Cheng knew very well that CGG was now in the eye of the storm; these protesting investors were just the tip of the iceberg, with many more anxiously awaiting news behind the scenes.
Thus, he sped up and entered the parking garage.
But the situation here was also different from usual.
The eight elevators that went directly to the parking garage had been controlled by security guards, and without a CGG work badge, there was no access.
Chen Cheng was no exception.
"I need to go up to see soone," he said.
"Good day, sir. Following instructions from higher up, entry is forbidden to non-company staff. We ask for your understanding."
Chen Cheng didn’t wish to entangle further with them and dialed Wen Shulin’s number on his phone.
After a few rings, the call connected.
"Hello? Are you back?"
"I’m in the garage; can’t get upstairs," Chen Cheng got straight to the point.
"Wait a mont, I’ll send soone to get you." Wen Shulin said and then hung up the phone.
Chen Cheng waited patiently, and after a few minutes, a familiar figure appeared at the elevator entrance.
Wen Shulin’s secretary walked briskly out of the elevator, "Mr. Chen, please follow ."
Chen Cheng nodded and finally entered the place he used to visit whenever he pleased.
"Sorry about this, Mr. Chen. The company has had so issues recently, so we’ve stepped up security," the secretary explained.
Chen Cheng waved it off, "No problem. How is Chairman Wen doing?"
"Chairman Wen has not left his office for two days," the secretary continued, "He’s hardly slept, constantly in etings, on calls, and dealing with various ergencies. The pressure is imnse throughout the company, and Chairman Wen is bearing the brunt of it."
The elevator doors opened, and the secretary led Chen Cheng out.
Chen Cheng noticed that the atmosphere on this floor was unusually somber too. Usually not many people ca up here, but now, there were executives in suits hurrying back and forth.
The secretary accompanied Chen Cheng to Wen Shulin’s office door and knocked gently.
"Co in."
Wen Shulin’s voice ca from inside, sounding a bit hoarse.
The secretary opened the door, "Chairman Wen, Mr. Chen is here."
Wen Shulin sat behind her desk, surrounded by heaps of docunts, still holding a phone, with furrowed brows and a weary expression.
The office was filled with the strong scent of coffee, obviously, she had been working for an extended period.
Upon seeing Chen Cheng enter, Wen Shulin said "I’ll talk to you later" into the phone, then hung up.
She looked up and forced a faint smile at Chen Cheng, "You’re here."
Chen Cheng noticed that Wen Shulin looked even paler than before, with dark circles under her eyes, and her usually ticulous hair seed a little disheveled.
Even with makeup, it couldn’t hide the fatigue on her face.
The confidence and poise she once exuded were now replaced by anxiety and pressure.
Her business suit had beco creased, clearly in line with what the secretary had ntioned.
Her entire deanor emitted a sense of fragility, in stark contrast to her typically decisive and brisk image.
"Is the situation very bad?" Chen Cheng asked with concern, "When I was coming, I saw quite a few people gathered downstairs."
Wen Shulin sighed and massaged her temples, "It’s worse than I imagined."
Chen Cheng sat down in front of the desk, "Fill in with the details."
"Up to this point, Gunflower Consulting has disclosed seven financial products issued by CGG." Wen Shulin searched on her desk for a while, finally pulling out a file from a mountain of folders and handed it to Chen Cheng,
"This is the situation with the seven products they’ve disclosed so far."
Chen Cheng took the docunt; it was filled with dense text and numbers:
Steady Growth No. 1: Scale of 500 million, expected annual return of 6.5%, investnt term of one year, primarily invested in AA-rated urban investnt bonds.
Gunflower Consulting’s report pointed out that this product’s underlying assets contain multiple low-quality urban investnt bonds that are nearing maturity, posing a high risk of default.
Sure-Win No. 2: Scale of 800 million, expected annual return of 7%, investnt term of 1.5 years, primarily invested in AA -rated urban investnt bonds.
The report indicated a suspicion of duration mismatches and fund pool operations in this product, with the actual rate of return far below the advertised rate.
Golden Harvest No. 6: Scale of 400 million, expected annual return of 8%, investnt term of 2 years, primarily invested in AAA-rated urban investnt bonds.
The report revealed that the actual underlying assets of this product were not AAA-rated urban investnt bonds, but riskier non-standard assets.
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