Chapter 1467: Chapter 1460: Turbulence Begins (6)
No, it’s not just the entire Hanhai, it’s the confidence of the whole of China abroad! With the trade frictions between the two countries already so prevalent, an incident like this would prove fatal, as even minor financial fraud could lead to a stock price plumt that shakes confidence in the corporate image of all Chinese enterprises!
If Hanhai collapses, my uncle and aunt have their subsidiaries and subordinates—precisely those who were just purged by Qin Zhiyou. They think that with such a major incident, Qin Zhiyou will certainly have to resign to take responsibility, and they can return to take over Hanhai. Even if Hanhai collapses, the money they’ve embezzled before would be enough for them to start over with a subsidiary. But in either case, it’s difficult for Qin Zhiyou to escape bla; he will suffer the most!
In recent tis, Qin Zhiyou had already instructed people across the ocean to keep an eye on the situation, but he didn’t expect things to blow up so suddenly. There’s only an hour and a half left before the New York market opens. An hour and a half, he must act fast!
Keep in mind, the construction of the demonstration zone has exhausted all of his resources. The funds that he barely acquired from Zhongtian Steel are all he had, leaving him no spare money to fall back on.
At present, it seems certain that my uncle and aunt are intent on making the financial fraud public, and the subsequent drop in the stock market is inevitable. After the fall, suspension of trading must happen as soon as possible. But once the news reaches China, how to maintain normal operations of the projects, how to maintain consur confidence and bank credit, and prevent panic selling when the market reopens are his most pressing concerns.
He also has to be on guard against my uncle and aunt to see if they have any other sches up their sleeves, as well as Zhongtian Steel.
Only now does he feel like he’s walking on thin ice, especially with Zhongtian. Early on, he had known that President Du was Zhao Zihuan’s uncle, and their closeness was definitely not with good intentions. Looking back, Zhongtian’s partnership might have been a probing move, testing Hanhai’s bottom line, ready to strike a deadly blow at this critical mont!
The only silver lining is that thankfully Hanhai is in the real economy, with performance-based stocks, not concept stocks. Concept stocks are those that rely on topics or a company’s packaged advertising effect to attract investors to purchase shares, like cultural companies, tea, and beverage companies, etc. Hanhai is in construction with tangible assets; although there’s no extra cash, there’s also no high debt. What the company needs most is for the bank loans to continue unbroken, and the funding chain to remain unbroken. As for the stocks… he can now only ensure they don’t plumt too drastically, maintaining the cash flow and the normal progression of the projects. As long as the projects continue, with a steady flow of funds, Hanhai still has a chance to carry on.
Looking at the report in his hand, Qin Zhiyou first said, “We cannot keep this from Grandpa. He’s the largest shareholder of the company; even if it disturbs him, we still have to inform him.”
Secretary Wang nodded and imdiately went to pass the ssage.
After his initial shock and anger, Qin Zhiyou’s emotions began to calm down, and he started giving instructions: “Call our people over there, tell them to keep a close eye on it after opening. They must suspend trading imdiately if the drop reaches the suspension standard, without any hesitation. The finance departnt should imdiately compile the real data, without missing the slightest detail, and explain everything clearly. And the PR departnt should also be ready at all tis. With such a big issue, dia both at ho and abroad will report on it.”
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