Of course he knew the risks of lifting the lid on "Equity-like Debt".
As Zhang Qingxue said, this could be a nuclear bomb-level impact.
But Chen Xi's analysis is also attractive - if we can take this opportunity to completely overthrow Lin Wanqing and clear the last obstacle to corporate governance, Short-term Pain may be worth it.
What's more, he now has a sufficient cash cushion.
Rights Issue has raised nearly one billion in funds and is still in his account, and the market value of Bitcoin's positions exceeds one billion US Dollar. These are his confidence.
But... is it really worth it?
In order to bring down Lin Wanqing, let Henglong's stock price halve? Let investors bleed into rivers? Let yourself be hostile to your peers?
"Wantang, what do you think?" Zhao Chen suddenly looked at Su Wantang, who was sitting quietly next to him.
Su Wantang raised his head, his voice was very soft but firm:
"I support any decision you make. But I would like to remind you that the case of Zhao Jianguo has not been decided yet. If there is another big problem in the company at this time, public opinion may be completely out of control."
She paused and continued:
"Now many people in the outside world regard the quarrel between your father and son as the gossip of a wealthy family.
If a scandal like 'Equity-like Debt' is exposed again, what will the media write? 'The infighting between father and son escalates, and the shady story of Henglong is exposed'?
By then, it may not just be a matter of falling stock prices."
These words woke up a few people.
Zhang Qingxue's face became more solemn:
"Ms. Su is right. In addition to legal risks, there are also public opinion risks.
The Zhao Jianguo case is at the forefront, and any negative news about Henglong will be amplified tenfold."
Chen Xi also realized that the problem was more complicated than imagined, but she still persisted:
"But the opportunity is rare. Lin Wanqing Now Capital Chain is tight, it is the most vulnerable time.
If we wait until she recovers or finds new sources of funds, it will be difficult to touch her again."
Zhao Chen's fingers tapped on the table faster.
He needs to weigh - short-term pain in exchange for long-term peace, or maintain the status quo and wait for a better opportunity?
"Aunt Zhang," he suddenly asked, "If the stock price retraces significantly due to this incident, will there be any problem with our pledge?"
Zhang Qingxue Call up the data immediately:
"Except for the 100 million new shares subscribed this time, all the shares you personally hold have been pledged.
If the stock price drops by more than 30%, the brokerage firm may require additional collateral. New shares can be added, but..."
She quickly calculated:
"Lin Wanqing and Zhao Jianguo are in more trouble. In addition to the 10 million new shares Zhao Jianguo just subscribed for, all other shares have been pledged.
If the stock price drops sharply, the amount of collateral he needs to replenish is huge, and he has no funds at all now."
Chen Xi answered:
"What if Lin Wanqing doesn't come to the rescue? Zhao Jianguo's shares may be lost to Forced Liquidation.
A large number of shares are thrown into the market, which will further depress the stock price and form a vicious circle."
This picture made everyone silent.
Zhao Jianguo was Forced Liquidation - that means that the Henglong Shares he accumulated over more than thirty years will be wiped out.
Although Zhao Chen has been deeply disappointed with this father emotionally, from the perspective of corporate governance, the chain reaction caused by the liquidation of Major Shareholder may indeed cause Henglong's stock price to Too Big to Fail.
"Bitcoin cannot be sold now."
Zhao Chen said to himself, "In order to force Lin Wanqing, it is not worth using Bitcoin's reserves."
His brain was running rapidly, and he suddenly remembered something:
"What is the current situation of Assistant Chen, Tesla stocks? I remember that the average purchase price was 215 US Dollar."
Chen Xi quickly called up the US Stocks account, and the data was clear:
"Tesla will hold Shareholders' Meeting tomorrow, and the market is expected to have major benefits.
The current stock price is around 382 US Dollar, the market value of our positions is about 53 million US Dollar, and the floating profit is close to 78%."
She looked at the calendar:
"According to your long-term holding strategy, this position has not been moved at all.
But if you are considering using this capital, now is indeed a good window period - the stock price is likely to rise after Shareholders' Meeting.
We can find a suitable opportunity to close the position before June 10."
Zhao Chen Quick mental arithmetic:
53 million US Dollar, which is equivalent to approximately 410 million Hong Kong Dollar. Although it is not a huge amount of money, it is enough to cope with emergencies.
"Then it's settled."
He said decisively, "Before June 10, find a suitable price to clear out Tesla. The money will be transferred back to the Hong Kong account for backup.
If the stock price really drops sharply due to the 'Equity-like Debt' incident, we can use the funds to increase our holdings at a low level and stabilize market confidence."
Chen Xi quickly jot down the instructions:
"Understood. I will pay close attention to the trend of Tesla and look for the best selling point after Shareholders' Meeting."
Zhang Qingxue looked at Zhao Chen with complicated eyes.
"Xiao Chen," Zhang Qingxue finally said,
"If you decide to move 'Equity-like Debt', I suggest taking three steps:
First, let Chen Qiming communicate with the major creditors first, stabilize their confidence, and prepare for Chen Qiming to take over Finance Director;
Second, prepare a complete crisis response Contingency Plan, including media releases, investor communication techniques, and regulatory filing materials;
Third, choose the time - it is best to wait for the preliminary results of the Zhao Jianguo case and wait for the funds for Tesla to be in place."