What's wrong with me being a rich man?

Chapter 613 Fire

Yu Xing was unsure whether Tie Niu Group had sufficiently serious problems.

He disapproved of Zotye's car manufacturing logic, and based on this, he frankly expressed his thoughts on some occasions.

As for the issues that are now being questioned online, given the Silicon Carbon Group's established position in the industry over the years, these concerns are more or less inevitable. The question remains whether Ying Jianren, who actually controls the Iron Bull Group, can manage this situation...

Yu Xing is also quite bewildered by the current spread of this situation. What can he do? Should he stand up and appeal to everyone not to investigate the companies he mentioned?

Even if it were impossible, people's enthusiasm would probably only rise even higher.

Moreover, the stock price of Jinma Shares, owned by Tieniu Group, has already been substantially affected.

Yu Xing thought and thought, and even spoke with Liu Wanying in Hong Kong, but still had no solution to the situation.

“Whether it explodes or not doesn’t depend on you,” Liu Wanying sighed. “Ultimately, it’s about whether the company itself has problems. Anyway, you did criticize them back then, so it’s not too unfair to blame you. Too many lice don’t itch, too many debts don’t worry, too much short selling will just… Blow it up, blow it up, blow it all up!”

Yu Xing said, "Whether it's exposed or not, the pressure feels really different."

Liu Wanying understands: "Now we have to take responsibility for what we've said, even to the point of being overly responsible."

We couldn't find anyone before, but now we know the source.

Yu Xing remained silent, refusing to express his views through any channels, hoping to move forward with the affairs of his own silicon carbon group.

However, calls from people trying to persuade and plead on his behalf soon came knocking.

Guo Guangchang from Fosun called, hoping that President Yu would show leniency.

Yu Xing had met Ying Jianren of the Iron Bull Group. It happened that he and Guo Guangchang and others came to attend the Kyushu press conference of the Silicon Carbon Group. There were a few interesting anecdotes at the time.

“Mr. Guo, this has nothing to do with me,” Yu Xing replied. “You’ve got the wrong person. You should go directly to Mr. Ying and ask him what happened.”

“Mr. Yu, you’re shorting Jinma on that forum, and didn’t you say before that you weren’t optimistic about Zotye?” Guo Guangchang didn’t believe that Mr. Yu wasn’t involved in this matter, and advised, “We’re all from the same hometown, Mr. Yu, there’s no need to go to such extremes.”

“You can’t blame the netizens’ problems on me. If Tie Niu had a problem, they would be analyzing it elsewhere, even if they weren’t on this forum,” Yu Xing said. “My opinion on Zotye is from before, and although I still hold that opinion, the current situation is beyond my control.”

"What do you mean you can't control it?" Guo Guangchang asked, somewhat displeased. "President Yu, isn't what you're doing just a witch hunt?"

Upon hearing this, Yu Xing countered with a question: "Did you hunt down the witch?"

Guo Guangchang remained silent for a moment, not answering the question, but instead asking, "President Yu, this year the Fosun Group has been the target of a lot of false information spread by short sellers. Are you aware of this?"

“Short selling of stocks that have passed through the mountain peaks has been documented with rigorous short selling reports. I don’t need to take the blame for the others,” Yu Xing said calmly. “However, I am indeed very surprised that President Guo would call me at this critical juncture.”

Just last week, Guo Guangchang went missing for 48 hours without warning, and his listed companies were suspended from trading. It was eventually confirmed by the company's announcement that he was assisting with an investigation.

He resumed public appearances this week, and his company also resumed trading, but all opened with declines. Shencheng Steel Union plummeted 8%, Fosun Pharma dropped 6.74%, and Nanjing Iron & Steel Co., Ltd. fell sharply by 5.65%...

Yu Xing was genuinely surprised that he still had the leisure to look for him; perhaps he had already found a new stronghold.

"I was asked to do this," Guo Guangchang's voice noticeably deepened. "In that case, let's leave it at that."

He himself was indeed in a rather disheveled state, and it was inappropriate for him to act like a big brother anymore, especially since the other party was the king of short selling; he had to be careful. Not long after Guo Guangchang ended his call with Yu Xing, another call came in from Ying Jianren.

Hearing the other person's voice, he could only say, "President Yu is busy with his own affairs right now, so it's impossible for him to bother you at a time like this. Just handle things normally, keep a low profile and get through this period first."

Guo Guangchang concluded earnestly, "Being able to endure is also a skill."

Ying Jianren was not satisfied with this reply and made an appointment to meet, and then go to see Yu Xing together.

Considering his own situation and Yu Xing's personality, Guo Guangchang politely declined the visit request and did not want to get involved in the matter any further, lest he inadvertently get himself into trouble.

He was unaware of the specifics of Tieniu Group's business, but judging from Ying Jianren's reaction, there were likely significant problems. Moreover, Yu Xing's words might not be false, and he would find it difficult to control the situation.

New developments have emerged at both Baixiaosheng Forum and Tieniu Group over the weekend.

Once the online discussion gained traction, it did have an effect. The Shenzhen Stock Exchange sent a letter of inquiry to Tieniu Group, asking two questions: first, whether the sudden acquisition of Zotye shares was intended to circumvent regulations on backdoor listings; and second, the reasonableness of the valuation of Jinma Shares' acquisition of Zotye.

The Baixiaosheng Forum was summoned for talks and was asked to standardize its activities, gather positive energy online, and properly guide the development of forum content.

This meeting proved effective. On the one hand, some people switched to platforms like Weishi and Leyin, and on the other hand, everyone put positive energy into their titles and content, turning to academic financial and business analysis.

On Sunday night, rumors circulated that the person in charge of the Iron Bull Group had sought help from an intermediary, but the short seller king declared that he would not lift a finger.

The message was presented in a very formal and straightforward manner, and many people believed it. Even Li Song called to inquire about the situation, wanting to know if there was any conflict between the two sides.

Yu Xing couldn't hold back any longer.

He wanted to post on Weibo, but after thinking about it, he posted a message on WeChat Moments instead: "There are too many rumors. Discern for yourself and don't be fooled."

This new post has been widely circulated, but different people have different interpretations of it.

Lingang Carbon Silicon is quite happy about this, well, the boss is now in a free state.

On the Baixiaosheng Forum, a new interpretation from the "King of Short Sellers" has emerged: "Short selling is risky; proceed with caution."

On Monday morning, Jinma shares opened lower again, and fell another three points within half a day.

Ying Jianren of the Tieniu Group endured it for three days and searched for it for three days, but finally couldn't hold back any longer.

He accepted a pre-arranged media interview, becoming the first person in the business world to publicly criticize the "King of Short Sellers."

"Yu Xing of Silicon Carbon used the mountain peak to short sell; this matter should be thoroughly investigated!"

"I've seen him face numerous lawsuits. How can we allow Silicon Carbon Group to list in Hong Kong in the name of fairness and justice in the market?"

"Range-extended technology is an outdated technology in the industry. It is extremely irresponsible for Carbon Silicon Group to repackage it and sell it to the market! Zotye will never build such a car!"

One stone stirs up a thousand waves; some applaud, some silently support, and some watch the drama unfold.

But no matter how much the market fluctuated, Jinma was the first to be affected, and its stock price plummeted.

(End of this chapter)