The article raises questions from three dimensions:
First, the size of the funds does not match the identity.
"Zhao Chen, 20 years old, Jiangzhou Zhengfa University is a sophomore.
More than half a year ago, he was still an ordinary college student;
Six months later, he was able to mobilize 700 million Hong Kong Dollar in cash.
The scale of this fund has exceeded the annual net profits of many small and medium-sized Listed Company. According to public information, the main source of funds for Zhao Chen is pledged shares.
But even according to the most optimistic estimate, he can get up to 300 million Hong Kong Dollar by pledging all his shares. Where does the other billion Hong Kong Dollar come from?"
Second, the compliance of cross-border capital flows.
"It is reported that most of the funds used for subscription by Zhao Chen were paid through the Hong Kong account.
How can a mainland college student complete such a large-scale cross-border fund dispatch? Has the corresponding foreign exchange declaration procedures been fulfilled? Has the source of funds gone through compliance review?"
Third, there is a lack of reasonable explanation.
"As of now, Zhao Chen and his team have not provided a detailed explanation of the source of funds. In the capital market, 'funds from unknown sources' often mean higher risks.
This makes people wonder: Does this fund involve entrustment? Does it come from a gray area? Is it improperly related to Henglong Group's own capital pool?"
The article concluded:
"We do not intend to preset a position, but as responsible Financial Media, we have an obligation to raise reasonable doubts.
The governance transparency of Listed Company is related to the interests of all investors. When a 20-year-old actual controller can mobilize hundreds of millions of funds, the market has the right to know:
Where does the money come from? Is it clean? Does it comply with all regulations?"
Lin Wanqing finally showed his first real smile today when he saw this report in the office.
"Finally someone understands." She said to Wang Bin who just came in,
"This report is much more valuable than those gossips."
Wang Bin nodded:
"<Financial Investigation Daily> is known for its depth of investigation in the industry, and their questions will attract the attention of regulatory authorities. But Mr. Lin, I'm worried..."
"What are you worried about?"
"I'm worried that Zhao Chen really has a reasonable explanation." Wang Bin said cautiously,
"If he can provide complete proof of the source of funds, then these doubts will become his endorsement - proving that his funds are clean."
Lin Wanqing sneered:
"If his funds are really so clean, why doesn't he explain it publicly? Wang Bin, I have been dealing with money all my life, and I know the rules here very well.
700 million in cash, half a year, and a college student... When these three points are combined, it is impossible to be completely clean."
She stood up and walked to the window:
"Even if he is really lucky and makes a lot of money from lottery tickets or other investments, there must be tax issues, foreign exchange control issues, and compliance issues.
As long as the regulatory authorities intervene in the investigation and delay him for three months, Rights Issue's financial pressure will be enough for him."
Wang Bin thoughtfully:
"So your real purpose is not to convict him, but to trigger an investigation and delay time?"
"Smart." Lin Wanqing turned around,
"What Zhao Chen lacks most now is time. Rights Issue has just been completed, the equity has not been fully delivered, Board of Directors has not been reorganized, and Zhao Jianguo's case has not yet been heard... If he is involved in investigations at this juncture, he will be unable to do anything else."
She looked at the news that was constantly refreshing on the computer screen:
"Moreover, the effect will be better when professional questioning and gossip are combined.
Ordinary people watch the excitement and see 'the second generation of rich people spend huge amounts of money on their girlfriends';
Professionals look at the door and look at 'unknown sources of funds and suspected violations'. With these two waves of people putting pressure together, Zhao Chen has to deal with both sides."
Regarding the report on Henglong Group, public opinion quickly split into two camps.
The positions represented by social platforms Weibo, Moments, and Campus Forum are more entertainment-oriented.
For example:
"Shen Zhiyi must have saved the galaxy in his previous life!"
"I want a boyfriend like Zhao Chen!"
"28 million shares! Based on last night's closing stock price of 7.2 Hong Kong Dollar, there has been a profit of 28 million Hong Kong Dollar!"
"Am I the only one who cares about what Shen Zhiyi looks like? Please take a photo!"
As for the positions represented by professional platforms Stock Bar, Financial Forum, and Investor Group, there are more doubts.
"<Financial Investigation Daily>'s doubts are reasonable. The cash of 700 million is indeed suspicious."
"Zhao Chen must give an explanation, otherwise I will sell the stock tomorrow."
"Is there a problem with Henglong's internal control? The source of Major Shareholder's funds is unknown. This is a major hidden danger."
"It is recommended that Stock Exchange and Securities Regulatory Commission intervene in the investigation."
There are more rumors floating around, all unconfirmed:
"The case Henglong has attracted attention, and the scale of funds is indeed abnormal."
"The cross-border capital flow records of Zhao Chen and related accounts are being retrieved."
"Henglong Group is required to provide an explanation on the source of funds within three working days."
Saturday At two o'clock at noon, Zhao Chen convened an emergency meeting in the office.
Three people, Chen Xi, Zhang Qingxue, and Su Wantang, arrived at the scene, and the atmosphere was solemn.
"Did you see the report of <Financial Investigation Daily>?" Zhao Chen asked.
"I see it." Zhang Qingxue pushed up his glasses,
"The writing is very high-level, and it seems to be an objective question, but in fact it is very sharp. I have contacted their editor-in-chief, but the other person said that they are 'just fulfilling their media supervision duties.'"