The next morning, Zhao Chen and Su Wantang opened the door and walked into the office together.
After making a cup of tea for Zhao Chen, Su Wantang tidied up the office as usual.
Floor-to-Ceiling Window The sunshine outside is very good, making the whole room warm and bright.
As soon as he sat down behind his desk, there was a knock on the door.
Chen Xi poked half of his head in, his face looked tired after not sleeping well all night, but his eyes were full of curiosity:
"Zhao Zong, what exactly are you going to announce today?"
Zhao Chen glanced at her and raised the corners of his mouth slightly:
"What's the rush?"
Chen Xi comes in one step:
"Are you not in a hurry? Now the whole Internet is guessing.
My cell phone has been ringing since last night, and it's all asking for news."
Zhao Chen leans on the back of the chair:
"Go and call Liu Mingyu and Aunt Zhang. We'll talk about it when everyone is here."
Chen Xi was stunned for a moment, then turned around and ran away.
Five minutes later, Liu Mingyu and Zhang Qingxue came in one after the other.
Liu Mingyu was still holding a cup of unfinished coffee in his hand, but Zhang Qingxue had tidied it up neatly, but there was just a little black and blue under his eyes.
"Zhao Zong." The two sat down on the sofa.
Zhao Chen nodded and looked at Chen Xi:
"After Executive Meeting, are the funds in place now for the 10,000 Bitcoin I asked you to arrange to sell?"
Chen Xi was stunned.
Then her eyes slowly opened wide.
"Zhao Zong, you mean..."
Zhao Chen nodded:
"Yes. The funds should have been received."
Chen Xi took a deep breath and quickly ran through the numbers in his mind:
"Ten thousand Bitcoin, if sold for an average price of 9500 US Dollar, that is 95 million US Dollar. This is equivalent to about 740 million Hong Kong Dollar."
She raised her head:
"This money can be transferred to our Offshore Account at any time."
Zhang Qingxue's brows moved slightly:
"Xiao Chen, are you going to..."
Zhao Chen said:
"Contact the pledger and initiate the redemption process."
He looked at Liu Mingyu:
"Add a message to the announcement - All shares held by me personally will be unpledged from now on.
After the cancellation, the holdings will not be reduced or pledged within three years."
He looked at Su Wantang again:
"Wantang is the same over there. Release the pledge and do not reduce the holding or pledge within three years."
Liu Mingyu's pen stopped in mid-air:
"Chairman Zhao, this..."
Zhao Chen said:
"Also, although Zhiyi's shares are not pledged, you can also make a promise that they will not reduce their holdings or pledge them in the next three years."
He paused:
"This is not enough."
He looked at Chen Xi and Zhang Qingxue:
"As senior executives, you can also make similar promises."
Chen Xi was stunned for a moment:
"Shall we send it too?"
Zhao Chen nodded:
"Yes. Voluntary lock-in for three years. Let the market see that the core team of Henglong is tied to the company."
Zhang Qingxue pushed up his glasses and showed a rare smile:
"Xiao Chen, you are going to kill me."
Only then did Liu Mingyu react:
"If all your shares are released from pledge, then the coupons lent by Short Sellers..."
He didn't finish.
But everyone present understood it.
Where did the coupon Short Sellers Short Selling come from?
It is borrowed from stocks pledged in the hands of brokers.
If Major Shareholder redeems all the pledged stocks, then the securities firm will have no bonds to borrow.
What has been borrowed must be returned when due.
Can't return it? That's a breach of contract.
Moreover, Zhao Chen and Su Wantang promised not to reduce or pledge their holdings within three years, which is equivalent to telling the market that these stocks will not appear in the securities lending pool in the future.
Although Shen Zhiyi's shares are not pledged, her promise also adds another layer of insurance to the market.
As for the commitments of executives Chen Xi and Zhang Qingxue, although they do not hold many shares, they are of great significance--
The core team has locked up their positions, who will still sell?
Chen Xi was so excited that his face turned red:
"Zhao Zong, this is too cruel. The coupons Short Sellers borrowed were originally from the pledge pool.
Now that the pledge pool is gone, what will they get in return?"
Zhang Qingxue added calmly:
"And redemption takes time. Brokers will try to delay it as much as possible, but once the redemption is confirmed, the chain reaction will be unimaginable."
She pushed up her glasses:
"At that time, Short Sellers has only two options. Either buy it at a high price and return the bond, or hold it until the position is liquidated."
Liu Mingyu can't sit still anymore:
"Chairman Zhao, I'll write an announcement right away!"
Zhao Chen nodded:
"After writing it, show it to me first. It will be posted at nine o'clock sharp."
Liu Mingyu turned around and ran.
Chen Xi and Zhang Qingxue also stood up:
"Let's get ready too."
Zhao Chen called them:
"Wait."
The two turned back.
Zhao Chen said:
"This time, I'm going to make things difficult for you. Don't worry, in three years, the value of the stocks in your hands will at least quadruple."
Chen Xi was stunned for a moment, then smiled:
"Zhao Zong, we are also Henglong's people."
Zhang Qingxue nodded and said nothing.
The two left.
Only Zhao Chen and Su Wantang are left in the office.
Su Wantang walked to him and gently held his hand:
"You've already thought about it, right?"
Zhao Chen looked at her:
"I have wanted to redeem it for a long time, but the liquidity was locked in Bitcoin before.
This time I asked Chen Xi to sell 10,000 pieces, just in case.
I didn't expect that it would really come into use."
Su Wantang asked:
"When will Bitcoin be sold?"
Zhao Chen said:
"After Executive Meeting."
Su Wantang was stunned for a moment:
"It's really unintentional!"
Zhao Chen nodded:
"Yes!"
He paused:
"What Short Selling people are most afraid of is that Major Shareholder will unpledge. The liquidity of the stock will decrease."
Su Wantang leaned on his shoulder:
"You've calculated too far."
Zhao Chen said nothing.
Lu Shen, aren't you going to smash the market?
Now, let me see what you throw at me.
At nine o'clock in the morning.
Liu Mingyu's fingers tapped lightly on the keyboard, and three announcements were sent out at the same time.
Article 1: Announcement on the termination of Controlling Shareholder from Share Pledge
"Our company Board of Directors is pleased to announce that Controlling Shareholder Mr. Zhao Chen and important shareholder Ms. Su Wantang have contacted the relevant pledgers and will redeem all the pledged shares held by them with their own funds.
This redemption involves a total of 260 million shares, accounting for 46.4% of the company's total share capital.
After the redemption is completed, all the shares held by Mr. Zhao Chen will be in an unpledged state."
Article 2: Announcement on voluntary locking of shares by shareholders
"The company has received commitment letters from the following shareholders:
1. Controlling Shareholder Mr. Zhao Chen promises: Within three years from the date of this announcement, it will not reduce or pledge all Henglong Shares it holds.
2. Shareholder Ms. Su Wantang promises not to reduce or pledge all Henglong Shares she holds within three years from the date of this announcement.
3. Shareholder Ms. Shen Zhiyi promises not to reduce her holdings of all Henglong Shares within three years from the date of this announcement."
Article 3: Announcement on voluntary locking of shares by senior executives
"The Company has received commitment letters from the following senior managers:
Ms. Chen Xi, Ms. Zhang Qingxue, Mr. Chen Qiming, Mr. Song Zhongping, Mr. Liu Mingyu, Ms. Chen Wei promise:
Within three years from the date of this announcement, all Henglong Shares held by it will not be reduced."
At the end of the three announcements, there is the same line of words:
"Our company is operating normally, and we are grateful for Guang Major Shareholder's support and trust."
The three announcements are tantamount to an earthquake for the capital market.
There has never been a Controlling Shareholder who, after understanding the ban, proactively promised not to reduce or pledge his holdings within three years.