The Delong Group originally had nothing to do with Southern Securities, but due to Chen Qiaoshan's successive bombardment, the two were implicated.

Chen Qiaoshan is now famous. In the hearts of ordinary investors, he may be a disaster star, basically a bad child who is pregnant.

After a week, the investigation of Southern Securities was basically concluded, and the details of the problem were not disclosed to the public. However, no matter which era, there are always well-informed or mysterious insiders.

According to the media, Southern Securities' proprietary business suffered huge losses, with the monthly interest on principal and interest-bearing financing reaching more than 200 million yuan, and the additional operating costs exceeded 2 billion yuan each year, which is undoubtedly moving forward with debt.

What makes people speechless is that since Chen Qiaoshan exploded the powder barrel of Southern Securities, many well-known scholars and experts have jumped out and joined the ranks of criticizing Southern Securities, which has made the news media very lively.

Chen Qiaoshan is used to this, and the experts who are hindsight are not unique to today, so there is really no need to argue with them.

Because the problem of Southern Securities was confirmed, voices of questioning the Delong Group began to appear online, and the once doubts of Qiao Shan from Peking University were retold one by one.

Chen Qiaoshan has bombarded three companies in total, and the results are shocking. The chairman of Hop Group was detained, the stock price hit the limit for the 14th, and has now been suspended for rectification. Southern Securities was directly intervened by the China Securities Regulatory Commission to investigate.

Now the Delong Group has only achieved success, but there was a full limit down in the last two trading days before the National Day, which is very difficult to think about and is inevitable to cause suspicion.

Although Delong Group has been positive during the National Day holiday, many people can see it clearly.

The so-called positive news is just empty talk. None of them can bring actual benefits to listed companies in the short term. To put it bluntly, it is just blowing a balloon, but the ball is not enough to be used.

Most importantly, Tang Wanshan's original explanation indirectly confirmed Chen Qiaoshan's report, the low-priced assets were implemented, and coupled with the guarantee crisis involved in hops, there are more and more doubts.

Many people have a preliminary judgment on whether it is Peking University Qiaoshan who cooperated with qfii institutions to short Tunhe shares to make foreign capital profits or whether there is really a problem with the Delong Group's capital chain.

...

Just in recent days, some media have begun to reveal that Delong Group has started laying off employees again, and the scale is much larger than in July.

When Chen Qiaoshan saw this news, he realized that the long-awaited opportunity had come.

Just the next day, news of Delong Group's large-scale layoffs appeared in the media, and the reports were very detailed.

This news is intriguing. Delong Group is the largest private economy in the country and has developed from the original three troika to the current nine golden flowers.

There are 9 affiliated listed companies under the group, and there are countless non-listed companies that are directly or indirectly controlled. Even many employees of the company do not know who the boss is.

The one who was exposed to lay off employees this time was Delong's non-listed company, which is a bit unrecognizable. Chen Qiaoshan knew that the real gangster hidden behind the scenes had begun to take action.

As expected, in the next two days, the Financial Times published articles in succession, and disclosed that three companies, Delong International, AUX research, and China Enterprise Oriental, lay off employees on a large scale.

China Enterprise Oriental is known as the largest securities and industry research center in China and is a core enterprise engaged in industrial research and financial services in Delong.

According to media reports, there are currently less than 30 research centers with hundreds of employees, and Delong International is the most core company of the Delong Group and is currently starting to lay off employees on a large scale.

The status of Youlian is also very important, and it comprehensively coordinates the operation of various holding subsidiaries under the Delong Group. The actual controller is Tang Wanxin's biological brother, which shows the importance.

Regardless of the layoffs of other subsidiaries, the large-scale layoffs of the three core companies will inevitably cause market doubts, and the stock prices of the three stocks have fluctuated slightly one after another.

...

Now, the one who knows the most about the difficulties of the Delong Group is not Chen Qiaoshan, except for the senior management of the Delong Group. It’s not that he has foresight, but because there are too many cases in later generations.

The Delong Group pursues the concept of integrating industry and finance, which now looks tall and outstanding, but in short summary is: leveraged acquisition and serial holdings.

The so-called industrial and financial integration of Delong is generally called borrowing money to acquire the other party and then transferring its cash out, which is used to repay the acquisition funds and part of them for continued mergers and acquisitions. The company can also use it to continue financing and provide more funds for serial acquisitions.

If this continues, theories can theoretically enlarge the company infinitely, but in fact, after two layers of holding shares, the equity will be diluted. Any problem in the middle will be endless.

...

The integration of industry and finance is not a new concept. The most important one is "financing". High leverage creates high risks. If there is no stable financing channel, the final outcome is already destined.

The earliest domestic enterprise to use the combination of industry and finance was a southern enterprise with a registered capital of 10 million in 1990. By introducing domestic and foreign strategic capital, it first stabilized its capital channels. Its scale increased by 50,000 times in 20 years, and finally entered the Fortune 500 world.

Chen Qiaoshan remembers it very clearly that the success stories of this company will be written into textbooks.

In contrast, the Delong Group relies entirely on loans and high interest financing, and the capital chain is extremely fragile.

Since the second half of this year, the central bank has raised its reserve ratio and major banks have shrunk their monetary policy. The Delong Group has no longer found loans from banks. The problem has immediately emerged. This is just the beginning, and a bigger crisis is still coming.

The Delong Group adopts the financing model of "short-term financing and long-term investment". The fourth quarter is the peak period for centralized underground financing redemption. Now without the support of banks' loans, the capital position is in full swing. The bank run is expected, and it is unlikely that Tang Wanxin will survive this cold winter.

...

Chen Qiaoshan ignored the Delong Group's layoffs, and he immediately cleared the SAIC stock in his hand.

To be honest, it is a pity to clear the position now. The stock price still has a lot of room for growth, but the cycle is long and the effect is slow, so I have to give up.

Chen Qiaoshan now has only 50,000 yuan in his hand, including 9,000 yuan from Sun Guangming and others. He and Yan Xiaoqin entered the market for 30,000 yuan, and the profit in less than two months has been quite impressive.

However, it was a bit slow for Chen Qiaoshan. He couldn't make a lot of money even if he was driving a cheat. He really had no face to see the elders of Jiangdong. Fortunately, the time has come, so he can let go of the money now.

Chen Qiaoshan used all his funds to buy St Zhongyan, with a purchase price of 6 yuan per share, and only bought more than 80 lots in total.

He was a little excited. This time he lost all his wealth. It was fine if he succeeded, but he shivered and couldn't get a penny back.

Nowadays, there are probably few people who dare to buy st with full positions, especially few who dare to buy st Zhongyan. As we all know, there are problems with this stock. Not only are there serious losses, but there are also constant disputes between the controlling shareholder and the second largest shareholder, and it has reached the verge of forced delisting.

St Zhongyan is a very magical company. It may be a bit inappropriate to say this. It should be said that the domestic stock market is a very magical place.

A listed company was actually controlled by the second shareholder, controlling the board of directors, and transferring assets without authorization with the funds raised from the listing, causing the company to lose money continuously and face the risk of forced delisting.

Using palace fighting in the company's business and playing the major shareholders is undoubtedly a farce, which makes a group of people who are watching the fun and not being too serious.

St. Zhongyan is a listed company in the county below Yanjing. The controlling shareholder is Tunhe Co., Ltd. located in northern Xinjiang, and the Delong Group is the controlling shareholder.

Tang Wanli has been incredible all the way, but unfortunately the way of combining industry and finance cannot be done in Yanjing. The strong dragon cannot suppress the local snake and is tricked by local small shareholders.

St. Yan is now facing a mysterious situation. The Delong Group has taken over for two years and has just gained control. The two restructuring plans have all ended in failure. If there is no improvement again, there is only one way to force delisting.
Chapter completed!