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Chapter 2921 Xu Zhishen goes bankrupt!
Mr. Ding, however, was not happy at all, and said very seriously, "Mr. Xu, what are you saying? When you suddenly fainted, I also went to the company to check on you."

"You were the one who told me at the hospital that we should try to make things as convenient as possible for Lu Tao."

Xu Zhishen was speechless for a moment, and he said in great astonishment,

"That was the only thing I could say in front of Lu Tao. How could we do business without thinking about making money?"

Prime Minister Ding became even more assertive, stating very seriously,

"Mr. Xu, we need to be reasonable in our dealings. You and Lu Tao are father and son. How am I supposed to be stuck in the middle?"
"It's already like this, you'd better raise the money quickly, otherwise they'll sue us."

When Xu Zhishen heard what President Ding said, he was very angry, but he also knew that what President Ding said made a lot of sense.

He remained silent for a while before saying seriously, "You wait for me to think of a way. Once I transfer the money again, you have to keep a close eye on me!"

Boss Ding knew that even a starved camel is bigger than a horse, and Xu Zhishen wouldn't be so easily drained. Since his task wasn't completed, he immediately agreed.

Xu Zhishen doesn't really have many options right now. As a capitalist, his best option is to mortgage his shares in order to get a loan for working capital.

But when Wang Yue tries to cheat someone, how could he possibly give him a chance?
Xu Zhishen had just contacted a bank he was familiar with to discuss the share pledge, but before the bank representatives could arrive, he received a call from the board of directors.

It turns out that Xu Zhishen had been keeping several women as mistresses while he was in Shanghai, and this has now been exposed.

Combined with the events involving Xu Zhishen, Lin Wanfen, and Lu Yaxun from a very early time, everyone gained a deeper understanding of Xu Zhishen's character.

It is unknown whether this incident involving the three people was confined to the architectural circle in Beijing and did not become known to the whole country.

Moreover, because Lu Yaxun was involved, the media couldn't report on it extensively. So, although the shareholders had objections, they only warned Xu Zhishen and didn't take any further action.

However, this incident occurred in Shanghai, and people didn't care about Lu Yaxun's identity, so the news spread very quickly.

The board of directors was unaware of this at first. The problem is that several securities companies, after receiving this news, are preparing to significantly reduce their holdings in Shenzhen Daer Company.

After all, many groups wanted to take advantage of this opportunity to make a fortune from the huge prize that was Sendor Company, so they planned to use this major news event for publicity.

The board of directors certainly knew that once the financial market was shaken, retail investors would be affected by the scandal and sell their shares, causing the stock price to plummet.

When the stock price hits rock bottom, that will probably be the time for those financial institutions to reap the profits.

Wang Yue knew that financial institutions were like sharks; as long as they saw any bloodshed, they would pounce and tear at him. That's why he felt comfortable disclosing the scandal.

Therefore, the board of directors wants to reconvene to remove Xu Zhishen from his position as chairman, but the meeting has not yet started.

After receiving this news, Xu Zhishen knew in his heart that someone must be deliberately targeting him, but there was nothing he could do about it.
However, Xu Zhishen felt that as long as he sold his shares, he would definitely be able to make more money by taking advantage of the booming real estate market, so he was not discouraged at all.

However, the stock market was fluctuating at this time, and Xu Zhishen's pledging of shares at this time would definitely cause a collapse in the share price of Shenzhen Daoer Company.

Xu Zhishen felt that the shareholders had abandoned him and would not care about the fate of Sendaoer. He wanted to sign a contract with the bank before Sendaoer's stock price started to fluctuate.

As long as the bank's money is deposited into his account, it doesn't matter if the stock price falls further.

But Wang Yue had already taken action; how could he not have considered this point?
Therefore, Wang Yue had already arranged for someone to notify the homeowners who had paid deposits in the Sunshine Community of Yuanda Construction.

It's important to know that although the deposit isn't much, it's very important to ordinary people. When they heard that Yuanda Construction's cash flow had dried up, they went directly to the construction site and Yuanda Construction Company to inquire about the situation.

Such an incident would cause a huge uproar. The construction company originally only wanted money, but after this happened, they did not hesitate to withdraw the construction team and move everything they could.

Of course, the construction companies didn't forget to ask Yuanda for their money, because they were also being pressured by their subcontractors to pay their wages.

Such a heinous incident became widely known, and Xu Zhishen, the company's boss, was quickly exposed for his connection with Sendaoer Company.

So, without any institutional intervention, retail investors began selling off their shares in Shenzhen S.A.R., and the institutional investors, who were already prepared, readily joined the feast. With the institutional involvement, S.A.R.'s stock plummeted to rock bottom as soon as trading opened in Hong Kong and continued to decline, triggering circuit breakers several times a day, eventually falling below 20% and halting trading.

However, this protective suspension is only for one day, and the stock price may continue to fall on the second day.

This is also a form of protection for these listed companies in the Hong Kong stock market. Originally, it could have given Shenzhen Daoer Company a chance to resolve the issue, but even if the company holds a board meeting, it will take time, so it was certain that the stock would continue to fall the next day.

Under these circumstances, it is impossible for the bank to accept the shares held by Xu Zhishen, and Xu Zhishen is also unwilling to pledge his shares at a low price!
Wang Yue was already very good at finance. In the past year or so, he used the money he had to make a fortune in the stock market, and now he is using it to target Shenzhen Daoer.

With so many financial institutions embroiled in a chaotic battle, Wang Yue is using artificial intelligence to trade stocks, which could easily put him in an invincible position.

Therefore, the Sandow Company held an emergency board meeting overnight to try to solve the problems it was facing, and thus contacted some reputable financial institutions to ask them to help stabilize the company's stock.

However, financial institutions are not so easy to entrust with this task; they must pledge their shares as collateral, or they will have to put up real money.

However, this time the board of directors demanded that Xu Zhishen pledge his shares to an institution to resolve the issue; otherwise, Xu Zhishen would be completely removed from his position as chairman.

If the shares could be pledged, Xu Zhishen wouldn't care about the chairman's position at all. But now that the shares can't be pledged, Xu Zhishen is afraid that after the new chairman takes office and solves this problem, his shares will be diluted again.

Therefore, Xu Zhishen reluctantly pledged his shares to financial institutions in exchange for money to boost the company's stock price.

However, although Xu Zhishen's shares could be worth over a billion if sold, it would only be a drop in the ocean in the vast financial market.

In just one day, more than half of the billion-dollar sum was used up. Financial institutions urgently notified Shenzhen Daer Group that it must find a new source of funding, otherwise the stock price would continue to plummet.

At this point, it wasn't just Wang Yue and the financial institutions deliberately targeting them; rather, it was Sendor's competitors who had also made their move.

Surrounded by such wolves, the shareholders knew that no matter how much money they invested, it would be the same, so they resolutely refused to make a move, which put Xu Zhishen, who had pledged his shares, in a dilemma.

In reality, the shareholders knew that although they collectively held more shares than Xu Zhishen, the company was not particularly important to them.

Whoever acquires this company in the future will definitely see a rise in the stock price after the acquisition is completed. As long as they hold these shares, they will be able to recoup their investment sooner or later.

It's like someone who buys stocks and sees the price keep falling. Since he doesn't need the money, he uninstalls the stock trading software and plans to sell after the price rises back up.

This process may take a very long time, but as long as you don't lack money, there shouldn't be any problems.

These shareholders all own their own companies, and Sendaur can bring them a lot of profits. They are also very optimistic about the future of Sendaur, so they are prepared to hold onto their shares and not touch them.

And you know what? Financial institutions are afraid of these kinds of stock investors because they can't make money if the stock price doesn't fluctuate.

But for Xu Zhishen, that's impossible, since he's really short of money right now.

It's important to understand that his shares have already been pledged to rescue the market. If the market fails to recover, financial institutions could use the courts to investigate all of his assets.

Xu Zhishen had no choice but to ask his friends for help. However, even Fang Dezhao, who was his closest friend, could only give him tens of millions of yuan, which did not solve any problems at all.

Under these circumstances, the funds from the stocks that Xu Zhishen had pledged were quickly depleted, and the financial institutions immediately demanded that Xu Zhishen repay the loan.

Xu Zhishen was unable to repay the loan, so his shares became the property of institutional investors. It remains to be seen how these institutions will handle these shares.

By this time, Xu Zhishen had reached his wits' end and had no way to save Yuanda Construction. He had no choice but to sell Yuanda Construction, which was currently a sunrise industry.

However, although Yuanda Construction is currently involved in two projects, Lu Tao's project is not profitable and cannot be sold at a good price, so it is essentially stuck in his hands. The other project has not yet been topped out and requires several hundred million yuan in further investment before it can be sold.

Therefore, if Xu Zhishen sells Yuanda Construction at this time, he can only get back a few hundred million yuan, which is not enough for him to get back the shares.

(End of this chapter)