Henglong's stock price closed at 17.25 Hong Kong Dollar, an increase of 54.7%, setting a record high.
The trading volume that day exceeded 1 billion Hong Kong Dollar, three times the usual amount.
Half an hour after the market closed, an inconspicuous post on Snowball quietly changed the direction of the trend.
User "Deep Water Fishing":
"I heard that Jiahe's acquisition is behind the acquisition of Henglong's predecessor Finance Director Lin Wanqing. Does anyone know whether this is true or not?"
Someone quickly posted in the comment area:
"Lin Wanqing? The Finance Director who was kicked away by Zhao Chen?"
"Yes, that's her. After working at Henglong for more than ten years, if anyone knows the assets of Henglong best, she is the one."
"If she participates, what does that mean? It means that the value of Henglong Property is definitely more than 2.6 billion!"
This comment was quickly upvoted.
The wind started to change.
User "Old Leek Root":
"Damn it, if you put it this way, did Zhao Chen lose money?"
User "Professional bargain hunter":
"It's a big loss! That complex in Jiangbei is in such a good location. If it is fully rented, it can be sold separately for 1 billion to 1.5 billion easily!"
User "Valuation Hunter":
"I recalculated. Jiangbei Complex is worth at least 1.2 billion according to the market price, and the remaining residential properties can be sold for 70 to 800 million when packaged.
The overall valuation is around 2 billion, which is more reasonable. Jiahe offered 2.6 billion, which is actually a premium.
But the participation of Lin Wanqing shows that she thinks it can rise in the future? This logic is a bit confusing..."
User "Chase Rises Kill Dips for Life":
"What a mess! I have worked at Henglong for more than ten years, and I know much more than Zhao Chen! If she dares to participate, it means the property is valuable! Zhao Chen is selling assets at a low price!"
User "Patient Holder":
"Have you forgotten that Lin Wanqing was just kicked out by Zhao Chen, and Short Selling lost 250 million. Can she believe what she says now?"
User "Old Leek Root":
"I want to make up for it even more after losing money! If she thinks it's not worth it, will she throw money into it?"
The debate is getting more and more intense.
Soon, a long post was posted on the homepage with a dazzling title:
<Zhao Chen is a prodigal: selling cows for cash at a low price of 2.6 billion, Henglong, what is left?>
"The stock price rose 54% today, and many people cheered. But think about it carefully, what did Henglong sell?
Sold its best property company.
The complex in Jiangbei is in a first-class location and is fully rented. The annual rental income is stable at more than 80 million.
This kind of asset becomes hard currency when placed in the market.
Some knowledgeable friends estimate that if they were separated and sold separately, it would easily cost 1 billion to 1.5 billion.
Although the gross profit of the remaining residential properties is not high, it is more stable. It is not too much to package and sell it for 1 billion, right?
In total, 2 billion to 2.5 billion is a reasonable range. Jiahe paid 2.6 billion, which is indeed a premium. But how much is the premium? Just 100 million.
Now there is news that Lin Wanqing - Finance Director who has been Henglong for more than ten years - participated in this acquisition.
What does this mean? It means that in her eyes, the value of Henglong Property is definitely more than 2.6 billion!
She knows Henglong's trump card best!
What about Zhao Chen? In a hurry to sell, in a hurry to cash out, in a hurry to kill the cash cow.
After selling the property, what is left for Henglong?
Real Estate's main business? Everyone knows what's happening in the industry now. Henglong Strategy has shrunk, land acquisition has stopped, and there are fewer new projects.
Property company? Sold.
What will support valuation in the future?
Rely on that 3 billion in cash? Can cash make money?
In this wave of operations of Zhao Chen, the stock price has risen in the short term, but in the long term - the growth logic of Henglong is gone."
One hour after this post was posted, it had over a thousand retweets and over three thousand comments.
The comment section was filled with howls:
"That's right! What will Henglong rely on in the future?"
"I chased the high today, but now I'm a little panicked..."
"Don't panic upstairs, the poster does not hold any shares and is deliberately playing short."
"You dare to tell the truth if you don't hold shares! Those who hold shares are all leeks!"
"Lin Wanqing is involved, which means he is optimistic about the future. Zhao Chen is sold, which means he is not optimistic about the future. Who do you believe?"
"I believe Lin Wanqing? She just lost 250 million!"
"After losing money, I want to make up for it even more! If she is not sure, she dares to spend more money?"
There was a huge quarrel between the two sides.
But there was one comment that was pushed to the top:
User "Value Discoverer":
"Why are you arguing? I'll give you the simplest calculation.
Lin Wanqing has worked at Henglong for more than ten years, and she feels she knows best. Then why was she kicked out? Because she is the biggest bug in Henglong.
Zhao Chen worked for less than a year and reduced the debt ratio from more than 75% to 43.35%, raised the stock price from 6 yuan to 17 yuan, and sold the property for 2.6 billion.
One won and one lost.
You don't trust those who win, but you trust those who lose?
As for whether the property is worth it--
Valuation is valuation, only when sold is real gold Silver.
Jiangbei Complex You think it's worth 1.5 billion, so why don't you offer 1.5 billion to buy it? Does anyone offer it?
Jiahe paid out 2.6 billion, and the real gold Silver arrived. Lin Wanqing participated, that was her judgment.
Zhao Chen sold it, it was his judgment.
Just look at the results in two years, why are we arguing now?"
Under this comment, the number of replies quickly exceeded 100:
"The logic is clear, I'll give it a thumbs up!"
"Yes, if Lin Wanqing knows so much, why did he lose so miserably?"
"She lost because Zhao Chen absolutely controlled it, not because she didn't understand assets!"
"Anyway, I believe in Zhao Chen, but I don't believe in the woman who was kicked away."
"I don't believe it either. But is it true that she spent money?"
"That money is a huge amount of money to us, but it is a bet to make up for her. Can you believe what a gambler says?"
The debate continues.
But the direction of the wind has begun to quietly turn back.
Chairman's Office.
Chen Xi stared at the screen with a complicated expression:
"Zhao Zong, now the public opinion is divided into two groups. One group says that you have made a loss, and the other group says that it is best to settle for safety."
Zhao Chen leaned on the sofa and looked out the window:
"Which side has more people?"
Chen Xi thought for a while:
"There are loud voices talking about selling losses, but most of them do not hold shares or sell short. On the contrary, stockholders who hold shares are calmer and feel that it is good to settle for safety."
Zhao Chen nodded:
"It's normal. People who don't buy hope that the stock price will fall so that they can get on board. People who buy hope that the stock price will rise so that they can make money. Butts determine head."
Zhang Qingxue pushed up his glasses:
"Is the news about Lin Wanqing's participation deliberately released by Jiahe?"
Zhao Chen glanced at her.
Zhang Qingxue continued:
"Lin Wanqing is now with them. Releasing the news of her participation is equivalent to giving a signal to the market--
Even the people who know Henglong best are optimistic about it, indicating that the property is undervalued.
This can increase the acquisition value of Jiahe, making it appear that they got a bargain."
Chen Xi's eyes lit up:
"It makes sense! Then if they want to quit in the future, they can say, 'We were wise enough to know the pearl'."
Zhao Chen thought for a while:
"It's possible. But don't worry about it."
He stood up:
"Let them noisy. The more noisy they are, the more attention they will receive."
He paused:
"The more attention there is, the better it is for us."
Chen Xi was stunned for a moment:
"What else do you want to do?"
Zhao Chen has no answer.
He just looked out the window and said softly:
"It's time to move forward with pig raising."
He paused again, "Let Aunt Zhang urge the progress again, and the transfer of my father's shareholding will be implemented as soon as possible."