"The fund manager on the short side... jumped off the building."
There was dead silence in the office.
Zhang Qingxue's hand stopped in mid-air.
Su Wantang Cover your mouth.
Zhao Chen stood there, motionless.
A long time.
"Confirmed?"
"Confirmed." Chen Xi said,
"Ten minutes ago, Trading Room jumped from the building where Trading Room was. On the spot..."
She didn't finish.
Zhao Chen Close your eyes.
He doesn't know the fund manager.
But they both know each other's existence.
But he found the wrong opponent.
"This is not the result we want." He said softly.
No one spoke.
But everyone knows it.
This is the capital market.
You win, others die.
If you lose, you will die.
There is no third way.
But the death of the other party brought some unknown changes to Short Squeeze this time.
At two o'clock in the afternoon, a certain regulatory agency Meeting Room.
Long table and two rows of chairs.
The air was so heavy that it looked like it was dripping with water.
Representatives of the exchange sit at the top, with officials from regulatory agencies on both sides, and further down, executives from brokerage firms.
On the other side of Long Table, there are two rows of empty seats.
That's reserved for the "parties".
The door was pushed open.
The first person walked in, it was Zhao Chen.
He was followed by Zhang Qingxue, but Zhang Qingxue stopped at the door--
This is a closed-door meeting, and only core parties can enter.
Zhao Chen sat down on the side of Long Table.
The second person walked in.
He is in his early thirties, has short hair, is tall, and wears a neatly tailored black suit.
Her pace was fast, like a gust of wind, but as steady as a mountain.
She sat down opposite Zhao Chen.
Opposite the west eye.
"Shen Jue." she said.
Zhao Chen nodded:
"Zhao Chen."
This is their first meeting.
This is not Zhou Xi's dinner party.
It's today, here, in this forced closed-door meeting.
The door was pushed open again.
Six people walked in.
Walking at the front was Wang Zong, in his fifties, wearing a suit and leather shoes, but with a gloomy face.
Behind him were two people Zhao Chen didn't know - they should be the other two funders.
The other three people had glowing faces, and they should be fund managers participating in Short Squeeze.
When the last person walked in, Zhao Chen's eyes paused slightly.
Lin Wanqing.
She was wearing a dark gray suit, and her makeup was still exquisite, but there was a layer of black under her eyes that couldn't be removed.
The moment she saw Zhao Chen, she paused.
The thing in that look was deeper than hatred.
It's resentment.
It's jealousy.
It's the unwillingness of "Why can you sit here, but I have to sit here?"
She sat down diagonally across from him.
There is a Long Table and an invisible gap between them.
The exchange representative cleared his throat:
"Everyone is here. Let's begin."
"The reason why I invite you all to come today is because something happened that no one wants to see."
The tone of the exchange representative was very serious,
"Zhou jumped to his death this morning. Everyone should have heard about it."
Meeting Room was quiet for a few seconds.
"Everyone here knows why he has reached this point."
The representative continued,
"But the man is gone, and holding people responsible is not the purpose of today. There is only one purpose of today -"
He paused:
"Avoid breach of contract."
He looked at everyone:
"The current situation is that the positions held by short parties total 100 million shares that need to be closed.
But with the current market conditions, they simply can't make it - because no one is selling.
If the position is forced to be liquidated, no one knows where the stock price will be pushed."
He looked towards Duofang:
"But if the position is not closed, it will cause a breach of contract. Once a breach of contract occurs, the reputation of the exchange, the risk control of the securities firm, and the stability of the entire market will be affected."
He paused:
"So, we need a solution."
Wang Zong spoke, his voice hoarse:
"What plan?"
The representative glanced at the regulatory officer next to him.
The official took over:
"Close the position by agreement."
He explained:
"You two negotiate a price privately, and the short side will buy all 100 million shares at this price and agree to deliver them without going through Secondary Market.
In this way, the stock price will not continue to soar, and the short side will not default."
He looked at Zhao Chen and Shen Jue:
"Of course, this price needs to be accepted by both parties."
Meeting Room was quiet for a few seconds.
Wang Zong looked at Zhao Chen with a hint of probing in his eyes:
"Chairman Zhao, what do you say?"
Zhao Chen leaned back on the chair with a calm expression:
"I have no objection."
He paused:
"You talk to her about the price."
He glanced at Shen Jue.
Shen Jue raised the corners of his mouth slightly.
The smile was very short, but Wang Zong saw it.
He suddenly felt a chill on his back.
This woman is scarier than Zhao Chen.
"Let's start talking." Shen Jue said with a cold voice, "100 million shares, how much will you offer?"
Wang Zong and the other two funders looked at each other.
Lin Wanqing lowered his head and said nothing.
"8 yuan." Wang Zong reported a number.
Shen Jue smiled.
The smile was very faint, but the meaning was obvious - you are dreaming.
"Eight yuan?" she repeated, "Are you kidding me? Go to the market and see if anyone can sell you 18 yuan?"
Wang Zong's face turned even uglier:
"Then how much did you say?"
Shen Jue has no quotation.
She just looked at Wang Zong, her eyes as calm as looking at a dead person.
"30." she said.
It was so quiet in Meeting Room that you could hear the sound of a pin dropping.
Wang Zong's face turned the color of pig liver:
"30?! Are you crazy?!"
The other two financial backers were the first to stand up.
The representative of the exchange opened his mouth, but said nothing for a long time.
The supervision officer's hand stopped in mid-air, and the water in the cup swayed.
Even Zhao Chen couldn't help but glance at Shen Jue.
30 yuan.
It's nearly twice as high as today's highest price.
Is this woman serious?
Shen Jue looked at their shocked expressions and raised the corners of his mouth slightly.
The smile was short, but there was a certain... playfulness.
"You think 30 is high?" she asked.
No one answered.
"Then let me tell you a well-known story."
She leaned back in her chair and said, "In 2008, Porsche acquired Volkswagen."
The atmosphere in Meeting Room has changed subtly.
There is no one here who doesn't know about that case.
"Porsche spent several years quietly buying the shares of Volkswagen and Options, controlling more than 74% of the outstanding shares."
Shen Jue's voice is very flat, like telling an old story,
"On October 26, 2008, they announced that they still had 4.89% of the shares they held that they had not disclosed.
Adding in the 20% held by the Lower Saxony government, there are less than 1% of the outstanding shares on the market."
She paused:
"At that time, major hedge funds held short positions of more than 12% of publicly traded stocks."
Zhao Chen's fingers moved slightly.
Of course he knows how this story ends.
"Those Short Selling institutions hold more than ten times more Short Position than all the stocks on the market combined."
Shen Jue said, "You all know what happened next."
Wang Zong's face has turned pale.
"In two days, the share price of Volkswagen rose from 200 euros to 1,000 euros."
Shen Jue reported the number, "At its highest, it reached 1,005 euros."
She looked at Wang Zong:
"30 Hong Kong Dollar, do you think it's high?"
Wang Zong opened his mouth, but no sound came out.
"They have increased it five times." Shen Jue said, "I only want three times. I am already very kind."
She paused and her tone suddenly became understatement:
"Of course, it doesn't matter if you don't accept it. Anyway, my original purpose was not Short Squeeze."
Meeting Room became quiet again.
Zhao Chen looked at her.
Not Short Squeeze?
So what is she for?