Chapter 1138: The surging danger

The giant sailing tower logo shaped in fiberglass in front of the Ida Building has become a distinctive feature of the building. It is not only the location of Kumho Commercial Northern Company, but also the headquarters of Quantung Online, the world's number one Chinese portal. Quantung Online's corporate logo directly uses blue sail-shaped icons, meaning setting sail.

The news department overnight produced a news topic of "Internet stock market crash, crisis is coming". Ma Xiangdong, Liang Wenjiang and other senior executives of Quanteng Online looked solemn and could not relax. They were successful in their youth and founded their website while they were in college. With the support of Kumho, they gradually developed the website into the world's number one Chinese portal Quanteng Online, and successfully listed on the Nasdaq. At the peak of their careers, the total market value of the company's stocks was as high as 600 million US dollars, which became a sensational wealth myth.

They have experienced the hardships and persistence of entrepreneurship, enjoyed the joy and passion of success, and have not yet experienced the hardships of setbacks. Quantum Online lost 20% of its market value in two days, which is somewhat caught off guard and hesitant about the future.

"It's so lightning-breaking. I don't know if I can stop the decline tonight..." Ma Xiangdong patted Liang Wenjiang on the shoulder.

"The company's operations are as usual. In two nights, eight billionaires shrank. I really couldn't imagine it before." Liang Wenjiang said.

"We didn't expect to get so much before!" Ma Xianglong laughed, "I remember when I was playing a movie in the school auditorium. I only planned to dig out the first pot of gold in my life before I was thirty years old, and I was very content to become a millionaire."

Even if the market value shrinks, the total market value of the stocks held by the company's management is still more than US$400 million. For those who were still young boys a few years ago, they are simply wealth that they dare not expect.

Rather than worrying about the shrinking of personal wealth, it is better to worry about the ongoing stock market crash on the Internet. How should Quantun Online deal with it?

"The video conference is connected!" Administrative secretary Xiao Ma walked in and told them that the video conference was ready. Ma Xiangdong and Liang Wendong walked into the conference room. All the senior executives in Quanteng Online were sitting in the conference room. Everyone was very familiar with each other, starting a business together, not getting along with each other, and the meeting would not be very dull. Even in this situation, everyone was chatting and joking with each other, and it was still difficult to hide their worries: what would they do if the collapse of the Nasdaq index could not be suppressed, which formed a rare stock market crash?

The picture on the ultra-wide screen plasma display screen hanging on the wall of the conference room is a slightly messy study room. The study room is empty. The study room is placed against the wall with bookshelf filled with exquisite porcelain. In front of the bookshelf is a red maple desk. The desktop is placed on a laptop, mobile phone, and ceramic pen holder are filled with various pens and a wallet. In addition to a few cards with exposed or gold or black edges, you can see from the display screen that there is only a ten-dollar bill in the wallet, and there is also a novel "Kinkakuji Temple" written by Yukio Mishima.

"If I throw Zhang Ke and I alone in a remote town without an ATM, maybe I'm richer than him..." Ma Xiangdong pulled the chair and joked with Liang Wenjiang, waiting for Zhang Ke to appear on the display. Today's meeting is to discuss the crisis that Quanteng Online is facing and the strategies to choose to deal with. Zhao Zilin, president of Oak Garden Venture Capital Fund, did not participate, but Zhang Ke participated in it personally. After all, it was not a formal board meeting, and no other shareholder representatives were not notified to attend.

"It turns out that he can read Yukio Mishima's novels. Will he be a little bit arrogant to foreigners?" Financial director Yuan Jing has never had the opportunity to contact Zhang Ke, but as a senior manager of Quantun Online, many things are clear. The person who created the Kumho Economic Empire was full of mystery in front of her. Unexpectedly, there would be a random RB literature on his desk.

The picture swayed, and a giant hand appeared on the screen, followed by a straight nose bridge. When the nose bridge occupies one-third of the screen forty-six-inch wide, no matter how straight the nose bridge is, it is very limited. Everyone in the conference room was shocked. Seeing the face occupying the display screen gradually distanced from the camera, the whole thing was displayed on the screen, and then they adapted.

"No one has slept well these two days, right? Look at everyone being listless?" Zhang Ke sat honestly behind the desk and spoke to the camera. The picture and voice were clearly transmitted to the display screen here, but Zhang Ke was still holding a mobile phone in his hand.

Ma Xiangdong and Liang Wenjiang exchanged glances. They knew that Zhang Ke would have a backup phone, but the backup phone would be in the assistant's hands. He had never used one phone in his hand. If the phone in his hand was his, who would belong to the phone on the desk? No wonder he thought that phone was annoying, it turned out to be too delicate.

Ma Xiangdong joked: "Young Master Ke didn't sleep well, right?"

At this time, a slender hand pointed at the screen. The finger pointed to the mobile phone on the table. Zhang Ke picked up the mobile phone on the table and handed out the picture. It was really imaginative: Who is the owner of the finger? After a glance, I saw the whole leopard. Seeing this jade finger as tender as green, I subconsciously thought that the owner of the finger should be a stunning beauty.

Obviously, it is impossible for ordinary female staff to put their phones on Zhang Ke's desk casually.

"You cousin, you can rush to the next life." Wang Cailing leaned over and whispered to Liang Wenjiang, "I remember Tang Jing has been in Hong Kong all the time. His two little secrets also went to the Hong Kong headquarters for internship..."

Liang Wenjiang smiled helplessly. His aunt often complained that the girls around Zhang Ke were too beautiful may not be a good thing. He could not gossip about who the woman outside the camera was.

Zhang Ke's eyes re-seek on the camera. He seemed to be aware that the female finger that suddenly appeared on the screen would cause some discussion. He went straight to the topic: "The situation is not very optimistic. The plunge in the past two days is probably just the beginning. Quantum Online's stock price forces $30 per share. You must be prepared in this way. Quantum Online's stock price may force the line of ten per share for some time in the future..."

Zhang Ke's words shocked everyone present. The opening price on Nasdaq was close to $10 per share a year ago, and it rose nearly five times driven by the wave of the new economy and the frenzy of the China-US bilateral agreement. Zhang Ke predicted that Quanteng Online's stock price would soon be brought back to its original form, so that if everyone here is not shocked, no one has the heart to pay attention to Zhang Ke's romantic affairs. Ma Xiangdong asked: "Will the crisis really be so serious?"

"We can communicate thousands of miles away without hard communication, all relying on the development of telecommunications technology and large-scale telecommunications investment. However, there is little demand for communication at this level, which highlights the excessive investment," said Zhang Ke. "Now, most network companies are developed in the capital operation model, and most of the operating capital is provided by venture capitalists. All of us who know the nature of venture capital know that how can we suppress the emergence of bubbles in this process? Well-designed lies, gorgeous and bright packaging, repeated and repeated, blowing the bubbles extremely huge. Venture capitalists desperately promote the number of clicks on the website or the level of attention they attract, and make investors ignore the real concern about the practical business model and future profitability... Once a turning point occurs, these venture capitalists will slip faster than rabbits... The situation must be curbed, unless these venture capitalists and speculators are not to stick to their positions."

"Is there no turning point?" Liang Wenjiang couldn't help but interrupt and asked.

"The crisis is only at the capital market level. Over-hype of concepts has brewed a huge bubble, but the actual application demand has been increasing over the years and will continue to rise. After all, we are still on the right path, but we are a little ahead of the curve. The turning point will come back sooner or later, maybe two or three or five years, the capital market in it will be extremely dangerous and will not just slip away. Too detailed predictions are not a task that economic analysis institutions can complete..."

Ma Xiangdong pressed his hand against his lips, which was his usual action when he was thinking. Zhang Ke's prediction was already specific enough. Quantum Online is far from being able to make a profit. There is a crisis in the capital market, and the door to refinancing will be closed. Quantum Online can only rely on existing funds to support it until the moment of profitability or wait for a turnaround to come.

Ma Xiangdong put down his hand, smiled, and said, "Now I'm going to live a life with my belt..."

With Kumho's influence, Quantum Online has not moved into the direction of radical investment after successfully listing on Nasdaq. The biggest investment is to inject capital into the e-commerce website Zhuoyu, which is only 20 to 3 million US dollars. The financial situation at this time is still quite abundant. Although the revenue of advertising business cannot fully compensate for the expenditure, it is also in a steady increase. The key is to tighten the gap at this time and prepare for a protracted war.

Liang Wenjiang asked again: "When is the time to choose to increase your holdings?"

"It's too early to discuss this at this time," said Zhang Ke. "What I can clearly say here is that Oak Garden Venture Capital Fund's holdings lock-in period for Quantum Online will be extended for another two years. I will have someone send you a fax copy to you and announce this news in a timely manner. Can you slightly regain the decline. As for when the time to increase your holdings, it's better to discuss it depending on the development of the situation..."

Compared with institutional investors, management's share reduction is more restricted. People like Ma Xiangdong, Liang Wenjiang and others can only reduce their holdings by a very small proportion of stocks every year. The reduction amount was used up before the crisis broke out. If you want to reduce all your holdings, you can only quit all positions at Quanteng Online. After the six-month time limit is over, you can reduce all your holdings without restrictions - this plan is obviously not a feasible plan. They can only watch their personal wealth shrink severely with the stock price falling. Since reducing their holdings of a certain proportion of personal holdings at a high level, senior executives such as Ma Xiangdong and Liang Wendong are still quite rich at the hands of, with a total of about 40 million US dollars. Compared with investment in other fields, they focus more on their own development careers and moderately choose to increase their holdings, which can also enhance the management's control over the company, but increasing their holdings also requires the time to choose.

Oak Garden Venture Capital Fund is just an institutional investor for Quantum Online. You can immediately reduce your holdings by issuing an announcement. The only limit is to prohibit reverse operations within the six-month time limit. Because ESS is related to Oak Garden Venture Capital Fund, ESS completely cleared the Quantum Online stocks in its hands in early April, Oak Garden Venture Capital Fund will have to wait until the beginning of October.

Although Oak Garden Venture Capital Fund will suffer certain economic losses, it is necessary to ensure relative control of Quantum Online, ensure the stability of Quantum Online's management team, and ensure that it can guide Quantum Online in the correct development direction.

Major domestic financial media such as Shanghai Securities News reported on the Internet stock market crash that occurred outside the country, and the Internet concept stocks in Shanghai and Shenzhen were in full swing.

"Financial New Weekly" published a report, directly pointing out that China's largest e-commerce website company, which has been continuously funding a large amount of funds, is the largest online bubble in China. Haisu Technology has only 30% equity in 8818, and its market value is 1.67 billion, which is even more a bubble in the bubble.

"Financial New Weekly" is released every Thursday, and the phone is being tracked down. The report was finalized a week ago. It was just that they were not lucky to be given to Haisu Technology when the stock market crash broke out.

Since the beginning of the year, there have been many debates about bubbles, but the stock market has been booming. Those who claim that there is bubble on the Internet have never been loud and have little influence. However, at this time, such a report has been reprinted on multiple portals, and the impact has suddenly become greater.

As soon as the Shanghai Stock Exchange opened, Haisu Technology poured out a large number of sell orders, and the stock price hit the limit within a few minutes, with a large number of sell orders accumulated. Occasionally, there were small and medium-sized retail investors who were ignorant of their lives and death to buy scattered, but they were not large at all.

"There won't be any big problem!" Hu Jinxing sat on a half-arched light brown swivel chair, turning restlessly, but his eyes seemed to stare at the LCD screen. He and Chen Yong looked at the stocks in the manager's room of Chuangyu Network Cafe. Although he spoke lightly, the huge order still weighed on his heart and felt a little breathless. Yesterday was still fine. They raised 30 million yuan from Yunlin Securities to invest in Haisu Technology. Yesterday they accumulated a profit of more than 2 million yuan. They vomited clean in a few minutes of opening today, and even lost hundreds of thousands. Even if they knew Hongxin and Jingdian's big move on Haisu Technology for nearly a year, they would never give up easily. Hu Jinxing was still worried.

"Why don't you ask Wang Haisu to have a meal?" Chen Yong felt even less at ease. Hu Jinxing had a closer relationship with him. He still contacted him because he was having sex with Hu Jinxing all day long. He did not expect that Haisu Technology has risen thirty times in the past eleven months. When they were determined to do a big deal, they caused a global new economy stock market crash. Although it was too early to say that it was a stock market crash at this time, the aggressive media reports were shocking.

"There is nothing to worry about. I'll see if he has time to come out to have dinner together." Hu Jinxing picked up his cell phone and tried to call Wang Haisu.

Wang Haisu's butt was almost stuck to the chair and he could not leave the headquarters building of Haisu Technology.

The total market value of Haisu Technology was once close to 17 billion yuan, of which nearly 70% of the stocks were legal person shares restricted from listing and circulation, and the market value of stocks that were not restricted from listing and circulation was 5 billion yuan. The market value of Haisu Technology stocks held by a large number of related accounts controlled by Hongxin Investment was about 1 billion yuan, which means that there are still 4 billion yuan of circulating stocks scattered in the hands of other investment institutions and retail investors. The external situation is vicious, and funds cannot be used to support the market rashly. You must always let the pressure be relieved first. But you didn’t expect the pressure to be so huge. The limit down quickly accumulated orders with a market value of more than 600 million after the opening of the morning session. By three o’clock in the afternoon, the orders accumulated to a market value of one billion yuan.

Even though I had predicted that there would be a lot of pressure before, I didn’t expect that the selling pressure would be so huge.

At three o'clock in the afternoon, the securities market stopped trading, and Yan Wenjie, Lin Xue, Wang Haisu, Liu Qijun, Zhang Wenxin and several managers from the investment department held strategic response meetings at the meeting.

"In another half an hour, the major European securities markets will start trading. After the major European securities markets are closed, it will be the North American securities market again. If there is no reversal news in Europe and the United States tonight, tomorrow's orders will be even more surging," Liu Qijun analyzed. He has not closed his eyes for forty hours in a row, his eyes are covered in blood, and his voice is a little hoarse, "We can only use 500 million yuan now. Without the cooperation of media and public opinion, it is afraid that it will be difficult to resolve the selling pressure..."

"I will still hold my troops tomorrow?" Wang Haisu asked.

Lin Xue curled her lips in disgust. She could understand the truth, but Wang Haisu wanted to ask more questions. If she spent all the 500 million yuan in her hand and fell into a complete passive future, several major financial media are now reporting stock market crashes. Even if she wants to create a favorable public opinion atmosphere, she will not be able to force herself. If the selling pressure is too fierce tomorrow, she can only let it go.

"Tomorrow is the May Day holiday. Shanghai and Shenzhen stock markets will have to be closed for nine days. Nine days have passed. European and American securities markets will be turbulent, and they should breathe a sigh of relief," Liu Qijun ignored Wang Haisu's question and analyzed, "We should also make good use of these nine days..."

"Well, I'll leave it to you here. I'll go to Beijing tonight." Yan Wenjie decided, "Even if we can't reverse the media wheel, we must muddle the water. Most of the economists who have the ability to muddle the water are gathered in Beijing. I want to hurry up and visit a few people - of course, we don't want to see the situation continue to deteriorate, and we are not the only one. Xinghe Securities will entrust it to President Lin..."

"It's only been more than twenty days, and I'm staring at them every day." Lin Xue said.

Liu Qijun told Yan Wenjie again: "Are you making more preparations for funds?"

When Wang Haisu heard Liu Qijun say this, he also turned to look at Yan Wenjie's face. Seeing him touching his nose and thinking, he knew that he had no plans to be good, so he didn't say anything offensive.

It was not until the meeting that Wang Haisu noticed that there were several missed calls on his mobile phone, which were all called by Hu Jinxing. When Yan Wenjie and Lin Xue left the headquarters building, he returned to the office to call Hu Jinxing. He looked at Yan Wenjie through the floor-to-ceiling glass window. Lin Xue's car drove into the software industry park, and he went downstairs to drive to Xuefu Lane to find Hu Jinxing.

After all, Wang Haisu is nominally the president of Haisu Technology. He cannot go to Chuangyu Internet Cafe for no reason. He meets Hu Jinxing and Chen Yong in the cafe opposite the inner lane 1978. They sit on the second floor and can see 1978 opposite the alley through the glass window. They hide the shadows that the sunset cannot shine. The door hole in 1978 shines the golden red flowing pill for the sunset.

"What will happen tomorrow? If there is another limit down, you will have to pay the deposit you lend us..." Chen Yong said anxiously, "We can only go to Xiaojiang to pay you."

Hu Jinxing calmed down a little. To put it bluntly, he joined hands with Chen Yong to speculate on Haisu Technology's stocks on the outside to make some extra money. Even if there is some loss, he can bear it.

When Haisu Technology was established to build a software industrial park, his uncle Hu Zongqing occupied a considerable proportion of the dry shares in Haisu Technology in his name. Haisu Technology went public through a backdoor listing. In order to avoid exposure, all the shares under his name were transferred to Hongxin Investment. In addition to the huge amount of funds from foreign foreign overseas accounts, Yan Wenjie also asked him to work directly in Haisu Technology and promised to distribute his personal shares in the name of equity incentives.

Even if there is billions of wealth to be obtained in the future, but now it is quite tight, Hu Jinxing has attracted Chen Yong to make some extra money by speculating on Haisu Technology's stocks on the outside. On the one hand, he did not expect Haisu Technology to make a lot of hype for Hongxin before. He felt that the previous distribution was a bit of a loss, so he thought of getting some compensation outside. Even if there is a loss, he is just a little heartbroken. He doesn't think losing millions is a loss.

Chen Yong put all his hopes for making a fortune on this, and he was anxious. If there was another limit down tomorrow, they would not be able to cut off their arm.

Tomorrow's operation tone has been determined. Unless the European and American stock markets reverse, they will choose to continue to relieve pressure tomorrow. Wang Haisu doesn't know how to comfort Chen Yong. If it weren't for Chen Yong's man, he wouldn't bother to comfort him. He said: "The European market is going to start trading. Maybe some good news will come. Nasdaq has fallen sharply for two consecutive days, so it should be slowed down. Even if tomorrow's situation is not optimistic, the domestic market will be closed for nine days on Labor Day, and the situation will ease after nine days..." The phone rang a few times, and a text message came in. It was a text message notification from the Investment Department that major European securities markets began to trade. The new technology economy sector was in a bleak cloud and there was a trend of falling into a vicious cycle. The decline was even more fierce than yesterday.

Wang Haisu accompanied Chen Yong in Xuefu Lane, and Hu Jinxing had a simple dinner. He continued to go back to Haisu Technology Headquarters Building to guard the night. The North American securities market still did not give people hope at night. The Nasdaq index showed no sign of cheering up. By the early morning, it fell by 7%.

Internet stocks have once again become the hardest hit area, with online stocks with a decline of more than 10%.

Quantum Online's management and Oak Garden Venture Capital both announced plans to reduce their holdings, which only made it more beautiful than other online stocks. After all, Goldman Sachs, the Warden Group and other venture capital funds that participated in Quantum Online's investment were going to escape at this time. Everyone envied ESS for resolutely clearing 17 million Quantum Online's stocks in the past four months, otherwise, if they followed the way to escape, Quantum Online's stock price would fall even worse.

In three days, the Nasdaq, the global new technology economy indicator, fell by 20%, and wealth of more than 500 billion US dollars evaporated in three days, which was shockingly comparable to the Asian financial crisis in 1997. The direct induction of the Asian financial crisis has been brewing for nearly half a year, and the Nasdaq index almost overturned overnight. The surface trigger was that federal judge Thomas Jackson's public remarks to the media caused Microsoft's stock price to turn from bull to bear.

The major securities markets in Asia-Pacific, including the domestic concept stocks in Shanghai and Shenzhen, continued to suffer heavy losses. As soon as Haisu Technology opened, it hit the limit with a market value of more than one billion.

Chen Yong was crying and it took only two days to make a profit of two million to lose four million.

In the past eleven months, he used insider information to speculate on Haisu Technology's stock profits not one million, and he almost squandered them all. This time he wanted to play a big game, even margin was borrowed. Because he successfully speculated on Haisu Technology, his principal doubled dozens of times, promised a high interest rate, and cheated outside in his name, naturally, many people dared to lend him the coffin bank, and it was very convenient to raise funds from Yunlin Securities. As a result, he wanted to make 10 million yuan and add 5 points to Hu Jinxing. He didn't think that the crisis would come at all and would not discuss it at all.

The only thing that comforted him was that the one billion orders were suppressed. Even if Yunlin Securities wanted to close their positions for them, it was impossible. As long as they raised margin, they would have the opportunity to turn over the bank. Hongxin Investment would definitely take action. Chen Yong even wanted Hu Jinxing to ask Hu Zongqing, deputy secretary of the municipal party committee, to intervene, so that Yunlin Securities would not dare to close the position forcibly - if they were forced to close the position, they would not even have the opportunity to turn over the bank.

With so much deposit, except for the hundreds of thousands lent to them by Wang Haisu, he borrowed everything else. Chen Yong was a little worried that Hu Jinxing would refuse to accept it at this time. He sat in the manager's room for a long time, but he didn't see Hu Jinxing showing his face, and he didn't know where others had gone.

The phone rang, it was a strange number, and Chen Yong answered the phone:

"Chen Yong, you said Haisu Technology will definitely rise sharply. Why did it hit two limit downs in a row? I know I can't hurry this matter, so I just called to ask. Also, Uncle Wang, I'm a little tight recently. Can I repay the 50,000 yuan I lent to you before to me in advance? I don't want the interest."

"You are only two limit downs, Uncle Wang, are you afraid? If you don't wash out your unstable elements, you will become a drag. I can't say too much about some things - I've invested all the money. Uncle Wang, you don't want interest, I will not be able to repay you now. Whether you believe me or not, you won't have to spend Labor Day. What I can tell you now is that important people will stand up to support the Internet stocks tonight!" Chen Yong responded and hung up the phone, watching the red line on the trend chart continue to pull the straight line, and he was upset and irritated to pick up the teacup in his hand and smashed it on the computer screen.

Hu Jinxing happened to push the door and was shocked: "What are you doing?"

"It's nothing, I look so frustrated! Where have you been going for most of the day?" Chen Yong asked angrily.

"What are you guilty! You thought I was doing? I called me to my uncle's office for a long time. On Yunlin Securities, my uncle greeted us and doubled the deposit based on paying the deposit. As long as Haisu Technology does not come to the limit down two more times, we will not forcefully close the position," Hu Jinxing looked at Chen Yong coldly, very annoyed Chen Yong and lost his temper with him, and said coldly, "Wang Haisu just got news. Wu Xiaobo, deputy director of the Finance and Economics Committee of the National People's Congress, will speak tonight to support the domestic Internet industry...What do you think I'm doing?"

"..." Chen Yong was also young and energetic, unable to easily wipe his face, Daoqian said with a few stutters, "I am also very anxious to sit here. Since there is good news, I will be a little more stable..."

"You have that little prospect, Hongxin and Jingdian are not worried about the billions of transactions behind you, you can't calm down here!" Hu Jinxing said in a voice, and he finally felt relieved.

On the eve of May 1st Labor Day, Wu Xiaobo, deputy director of the Finance and Economics Committee of the National People's Congress, denied the fact that the bubble caused the development of domestic networks to expand too quickly, and was on the verge of crisis.

Quantum Online announced its financial tightening policy on the homepage of the website that night, announcing that it would implement a number of measures including reducing management salary, abandoning new recruitment plans, laying off 8% of employees, and reducing administrative affairs expenses to reduce the operating costs of the website. It has a clearer banner to announce the arrival of the online bubble crisis.

Quantum Online, as the first Chinese portal website and the first Chinese Internet company listed on the Nasdaq in China, can almost be said to be the weather vane of domestic Internet companies. Quantum Online's financial contraction measures have attracted the attention of the media and the public, quickly covering up Wu Xiaobo's influence.
Chapter completed!