Rebirth of the Financial Crisis Sweeping the World

Chapter 177: 177 Expenditures of 5.5 billion funds have dried up, and the bank draws loans!

After Hong Tianwen left, Lu Yinhe sat on the sofa and fell into deep thought.

To be honest, the purpose of borrowing 500 million Hong Kong dollars this time is not to increase the stock price, but to maintain the stock price.

500 million Hong Kong dollars can buy 100 million shares. He doesn't believe that the black shirt insurance company can short 100 million shares?

At the end of the day, he was also terrified. This time he underestimated the strength of the black shirt insurance company.

Unexpectedly, it was true that the black shirt insurance company said that it would use 2 billion Hong Kong dollars to short the Galaxy Entertainment Group!

No bragging, no scaring.

And they actually thought that the black shirt insurance company was only mobilizing 500 million to 1 billion Hong Kong dollars in funds.

Today they have suffered a lot, and the family's private funds have also been exhausted by the black shirt insurance company.

After thinking for a while, he asked, "How's the situation with the Blackshirt Insurance Company?"

What he is most concerned about now is how much money the Blackshirt Insurance Company has to short the Galaxy Entertainment Group.

This Galaxy Entertainment Group is the largest enterprise of the Lu family, and also the most profitable enterprise.

This time, the shareholding ratio was increased from 45% to 60%, consuming 3.2 billion Hong Kong dollars of funds.

And the family's private funds have dried up.

At this time, the special assistant Feng Tianmin stepped forward and said respectfully: "Chairman, I have already found out."

Lu Yinhe asked anxiously, "How much money do they have?"

Feng Tianmin said seriously: "The Blackshirt Insurance Company has no extra funds to short.

Behind the Blackshirt Insurance Company is mainly the Fung family of Wing Hang Bank.

The funds of the entire insurance company are stored in Wing Hang Bank.

This time I heard that Wing Hang Bank loaned 500 million Hong Kong dollars to the black shirt insurance company”

After thinking for a while, he continued: "Currently, Blackshirt Insurance still owes 500 million Hong Kong dollars to China Merchants Wing Lung Bank under China Merchants Bank, 500 million Hong Kong dollars to Jie Hao Credit Company, and 500 million Hong Kong dollars to Wing Hang Bank.

A total of 1.5 billion Hong Kong dollars in loans owed to the bank!

The main bank that supports it is Wing Hang Bank. "

Insurance companies all have liability reserves. I heard that this black shirt insurance company has a high ratio of liability reserves, and these liability reserves are stored in Wing Hang Bank.

Then he produced another report, which was provided by an undercover agent in the blackshirt insurance company.

The total assets of Blackshirt Insurance Company are 15 billion, financial assets are 5.1 billion, cash flow is 2 billion, real estate is 900 million, and liability reserves are 7 billion.

The total debt is 15 billion, of which 500 million is a loan from China Merchants Bank, 500 million is a loan from Jiehao Credit Company, and 500 million is a loan from Wing Hang Bank

At present, the net assets of Hei Shirt Insurance are negative 200 million Hong Kong dollars.

Seeing that the black shirt insurance company owed the bank a loan of 1.5 billion Hong Kong dollars, Lu Yinhe breathed a sigh of relief.

Now the cash flow of the black shirt insurance company has been exhausted on the shares of Galaxy Entertainment Group.

The cash flow of 2 billion Hong Kong dollars is definitely gone, and it still owes the bank a loan of 1.5 billion.

The longer the time dragged on, the black shirt insurance company would be finished, and even the interest would not be paid.

And the net assets are already negative 200 million Hong Kong dollars. If the negative continues, the Securities Regulatory Commission will take action. This is obviously insolvent!

"It's finished!"

Lu Qihui on the side couldn't help but said: "This black shirt insurance company is really crazy and overestimated!"

"Father, the short-selling stocks of Black Shirt Insurance are all borrowed, and the daily interest is very high. As long as we procrastinate and consume it, the Black Shirt Insurance will not even pay the interest."

Lu Yinhe nodded: "The 500 million Hong Kong dollars may not be needed anymore."

The black shirt insurance company is now a mud bodhisattva crossing the river and cannot protect itself. How can it continue to short the Galaxy Entertainment Group?

He even regretted the 500 million Hong Kong dollars mortgaged villa loan.

It was just a false alarm, because I was too nervous.

At this time, Lu Qihui suggested again: "Father, we can continue to punish it and kill it!

We reported on the news that the black shirt insurance company cheated financially, misused funds in violation of regulations, and became insolvent early on, and has been cheating financially!

And Wing Hang Bank cooperated with fraud, let the Securities Regulatory Commission investigate it! "

Since this period of time, Jiehao Financial Group, Galaxy Entertainment Group and a series of partners have been chasing the black shirt insurance company.

Moreover, when Black Shirt Insurance Company privatized Convoy Global Insurance Company, it manipulated the stock price in violation of regulations, cheating many ordinary shareholders, and privately gave major shareholders a 20% premium, and bought them at a price of 120 million Hong Kong dollars per share. stock.

And privatizing the stocks in the hands of shareholders at a price of 1.00 yuan per share, the 20% premium difference is enough to cause heavy damage to the black shirt insurance company.

At present, retail investors have initiated a class action lawsuit, demanding compensation.

In addition, the employees who once bought the insurance policy of the black shirt insurance company are also initiating a surrender, a class action lawsuit!

After all the lawsuits, there is no 50 million Hong Kong dollars, so it's impossible!

It is also very useful to continue to sue the black shirt insurance company for financial fraud and early insolvency.

At that time, China Merchants Bank will draw loans, and Jiehao Financial Group can also use this name to draw loans.

Now that the black shirt insurance company has no cash flow, he doesn't believe that the black shirt insurance company is not finished yet!

At that time, the shares of Galaxy Entertainment Group will have to be liquidated, and they will exit the market with a huge loss, and then the company will also be ruined and acquired.

When Lu Yinhe heard this, he was immediately happy. This youngest son, Lu Qihui, has so many bad ideas, and this method is good.

"Okay, let's do it!"

"Father, then I'll make arrangements." After speaking, Lu Qihui hurried to make arrangements.

Although the private funds of the Lu family have dried up, there are still many companies under the Lu family.

Not only Galaxy Entertainment Group, this Galaxy Entertainment Group is just the largest enterprise.

Just as Lu Qihui left, Lu Yinhe's phone rang.

It was from my eldest daughter, Lu Yufang, who was in the United States.

It is said that the family's Stanford Hotel Group in the United States has been severely impacted.

Loaned by Citibank, urgently needed 300 million US dollars of funds.

Otherwise, Stanford Hotel Group will be finished and will be acquired by a hotel group in the United States.

The Lu family has businesses all over the world, including Singapore, Hong Kong, Thailand, the United States, and the United Kingdom``

Unexpectedly, there was a problem with the Stanford Hotel in the United States.

In 2006, the Stanford Hotel Group acquired many hotels. When the funds were insufficient, they sought bank loans, and the scale became larger and larger.

For a while he was complacent.

Unexpectedly, the economy in the United States was very bad this year, and the real estate collapsed, causing the value of many hotels to plummet.

Their Stanford hotel was very expensive when they bought the hotel and now it's very bad.

Need $300 million in funding.

300 million US dollars is more than 2.3 billion Hong Kong dollars!

The family currently only has 500 million Hong Kong dollars in funds, and they mortgaged the villa to borrow it.

In addition to Galaxy Entertainment Group, among family businesses, the capital flow of other enterprises is not much, and the scale is not large. It is not bad to mobilize a capital of 300 million Hong Kong dollars.

And Galaxy Entertainment Group has abundant funds, and there is no problem in mobilizing 1.5 billion Hong Kong dollars, but it has a need to use it!

Lu Yinhe fell into deep thought.

The family fund alone has spent 3.2 billion Hong Kong dollars to protect Galaxy Entertainment Group, and has just borrowed 500 million Hong Kong dollars.

Can no longer borrow.

Anyway, the Lu family now holds 60% of the shares of Galaxy Entertainment Group, and the funds of Galaxy Entertainment Group can be used wherever they want to invest.

But this matter has to be done secretly, and the outside world cannot be known. The Galaxy Entertainment Group used 1.5 billion Hong Kong dollars to save the Lu family's Stanford Hotel Group in the United States.

Just do it!

He hurriedly raised funds. The family's fund was 500 million Hong Kong dollars, Galaxy Entertainment Group 1.5 billion Hong Kong dollars, and other family companies raised 300 million Hong Kong dollars to jointly form an investment fund.

A total of 2.3 billion Hong Kong dollars was invested overnight in the Stanford Hotel Group in the United States to solve the family's industrial crisis in the United States.

This time, there was no more 2.3 billion Hong Kong dollars, which made the Lu family and the family business short of funds.

Calculated, the liquidity of HK$5.2 billion is gone.

Lu Yinhe couldn't help but smoked a cigar to relieve the sense of urgency.

Soon the negative news about the black shirt insurance company, the financial fraud, and the news that it was already insolvent were published by the cooperative media under the Galaxy Entertainment Group, and it was still the headline news.

··

8pm.

Wang Guanxi, Feng Shaokun, and Zhou Tianjing dined in Ming Pavilion.

This is a rare high-end Cantonese restaurant in Mong Kok. It is located on the 6th floor of Cordis.

There are a variety of table wines available here, and the waiters will also assist customers to choose appropriate wines to eat with the dishes.

The three of them ordered the signature dishes, Supreme Honey Sauce Char Siu, Cheese Baked Stuffed Fresh Crab Cover, and Ming Court Fried Chicken.

Of course, there are also Dragon Emperor wearing golden armor, teapot matsutake and bamboo fungus clear soup, fresh pepper Dongxing spotted ball... these delicious and lovely dishes.

Feng Shaokun was eating barbecued pork, and couldn't help but ask, "Guanxi, today's black shirt insurance company fought against the Lu family, how is the situation going?"

He has been busy today, so he just took a look at the stock price of Galaxy Entertainment Group. The fluctuations are indeed very violent, and the trading volume is very large.

And after Zhou Tianjing cut a piece of fried chicken, he also said: "Today I saw the stock price skyrocketed and plummeted, how is the battle going?

How many thousands of shares have you sold today? "

He had a feud with Lu Qihui of the Lu family. This time, the black shirt insurance company shorted the Galaxy Entertainment Group. He had been watching, hoping that the stock price of the Galaxy Entertainment Group would plummet, but it just soared.

Wang Guanxi said lightly: "It's only 400 million shares!"

When Feng Shaokun and Zhou Tianjing heard this, they immediately stared at Wang Guanxi in astonishment, and dropped the knives and forks on the table.

Ding ding ding!

The two were terrified!

400 million shares, that is, sold more than 2.2 billion Hong Kong dollars worth of stocks. The Lu family still took over. One can imagine the financial resources of the Lu family!

Then Feng Shaokun quickly opened the stock price chart and looked at it.

Today, the share price of Galaxy Entertainment Group opened at 5.84. Although it rose and fell sharply during the period, it closed at 5.40.

Feng Shaokun couldn't help but said: "Guanxi, are you okay this time? You shorted 400 million shares, worth at least HK$2.2 billion, and you actually only suppressed the stock price by 0.44 yuan?"

This is not a good thing.

Wang Guanxi's black shirt insurance company sold 400 million shares, and the stock price only fell by 0.44 yuan. This is simply too tragic.

This Lu family is a tiger, and a tiger's butt can't be touched.

What if the stock price can't go down now?

The 400 million shares are all borrowed, and a lot of interest has to be paid every day, but the black shirt insurance company is entangled in lawsuits, and there are a lot of negative news, what should I do?

Zhou Tianjing also said: "Guanxi, the black shirt insurance company is in danger this time."

Selling stocks with a value of more than 2.2 billion Hong Kong dollars, the stock price has only fallen so much, and now it may lose a lot of money. It is really hard to believe, what will happen to the short-seller black shirt insurance company next.

Wang Guanxi smiled lightly: "It's okay, the Lu family should be in danger!

This time, the black shirt insurance company consumed a lot of their funds at a high level!

If the situation changes, the Lu family will have no money to protect the market, and if they have money, they will not dare to protect the market."

This time the Lu family has consumed so much funds, and when the financial tsunami comes, the Lu family will not be able to provide funds to save the family business, and the Galaxy Entertainment Group may go bankrupt.

At this time, the news media are also reporting the negative news of the black shirt insurance company, financial fraud, misuse of funds, non-conformity of capital, and manipulation of stock prices...

Fortunately, Blackshirt Insurance Company is not a listed company, otherwise the stock price will definitely be sold off tomorrow.

Wang Guanxi doesn't care about this, but it's just a lawsuit. If he can't win, he will procrastinate. He will consume each other's legal fees and time. If he can't procrastinate, he will reconcile.

After dinner, everyone went to play snooker.

Just after finishing a round, CEO Huang Shaokai called.

After connecting, Wang Guanxi asked, "What's the matter?"

On the phone, Huang Shaokai said nervously: "Boss, China Merchants Bank is going to draw a loan from us and urge us to repay the loan, and Jiehao Credit Company is also urging us to repay the loan on the grounds of our financial fraud."

"The company doesn't have enough cash now, they suspect us of financial fraud..."

Today's news about the financial fraud of the black shirt insurance company was published by Lu Qihui on the headlines of the media.

In the evening, two brickmen were also hired to have a conversation, and the topic was the fraud and insolvency of the property of the black shirt insurance company.

It also revealed that the black shirt insurance company manipulated the stock price and deceived the shareholders when it was privatized, and asked the Hong Kong Securities Regulatory Commission to investigate this matter.

It also encourages all shareholders of the original Convoy Global Insurance Company to join the class action, allowing the Black Shirt Insurance Company to pay an additional 20 million Hong Kong dollars.

This Lu family is really insidious enough.

Wang Guanxi thought for a while and said: "Procrastinate first, tell them to pay back in five days, procrastinate first."

The Jiehao Credit Company was originally negotiated at the shareholders meeting of Convoy Global Insurance Company that day. Unexpectedly, the Jiehao Financial Group turned its face again.

Moreover, China Merchants Bank also came to draw loans, obviously suspecting that the insurance funds of the black shirts were insolvent.

Now the black shirt insurance company really has no money, so continue to drag it on.

"Clarify the matter of financial fraud, misuse of funds, and insolvency, and then let the black shirt legal firm sue Galaxy Entertainment Group..."

"Yes, BOSS" ended the phone call, and Huang Shaokai hurriedly took several vice presidents to do it.