The penniless son of the penniless ...

Chapter 23 Hanbao Steel explodes!

When he returned to the hotel in the afternoon, Zhang Junfeng was very excited when he saw the two stock lease agreements that were successfully signed. Although he was a loyal Monopoly player in his previous life and had seen many "opportunities" of all kinds in the game, this great opportunity that he personally facilitated after his rebirth was much more exciting than the experience in the game!
The next step is to divide the borrowed Hanbao Steel shares worth a total of 16 billion US dollars into dozens of accounts and sell them off in a dispersed manner, and then the second step of the plan can be put on the agenda!
Even top multinational companies with a market value of hundreds of billions of US dollars in the past will be powerless to recover and eventually collapse when faced with a huge scandal in which financial problems are disclosed!
Hanbao Steel not only has a serious financial deficit, but the severe decline in sales of steel products will be a fatal blow to this large enterprise!
Zhang Junfeng even wondered if his sudden attack would directly detonate the "time bomb" of Hanbao Steel, which was already in danger, a few months in advance? However, when he thought that if he operated properly, he could reap hundreds of millions of dollars in profits in a very short period of time, the remaining sense of guilt disappeared without a trace!
……

As time went on, something unusual happened at the Korea Stock Exchange. A large number of Hanbo Steel shares were sold out of a large number of newly established accounts, which attracted the attention of many people in the financial industry.

At the beginning, many investors and institutions who wanted to take advantage of the opportunity to make a fortune were quite interested in the sudden sale of Hanbao Steel shares, and they paid money to buy a lot of them. After all, the gold content of stocks of large enterprises is still quite high, and value investment is worth having!

However, as Hanbao Steel's stocks continued to be sold, some quick-witted people gradually realized that something was wrong and began to question whether something had happened to Hanbao Steel, which led to the massive selling of stocks? !
However, Hanbao Steel has not yet figured out which link went wrong. To be on the safe side, they arranged for staff to speak as representatives to calm down the negative public opinion in the market, while speeding up the investigation to find out who was behind the incident!
However, when they received news from the executives of those banks that someone had paid a huge deposit to borrow the mortgaged stocks from them and that the Five Star Group was involved, Zheng Taishou, the chairman of Hanbao Steel, was completely dumbfounded!

He didn't understand why the Five Star Group suddenly attacked Hanbao Steel. The two companies had a lot of business dealings over the years. It was like they were backstabbing their teammates when they suddenly did this!
Zheng Taishou, who was a little annoyed, quickly called Li Jianxi, the chairman of the Five Star Group, to ask for an explanation from him!

However, Li Jianxi, who had been on guard for a long time, made it clear that he wanted to distance himself from the matter. He just said that this matter was done by a younger generation in the family without telling him, and he had already taught him a lesson.

However, things have come to this point, and he cannot go back on his word in order to avoid affecting the reputation of the Five Star Group. He asks Zheng Taishou to contact two banks that allow lending of stocks to think of a solution. If it doesn't work, he can use the money to buy back the company's stocks that have been sold!
This really pissed Zheng Taishou off! It was beyond his expectation that Li Jianxi, the chairman of the Five Star Group, could do such a "rogue" thing. As for the bank, he had contacted it, but it was useless!
Zhang Junfeng and Wu Mingxi seemed to have anticipated the measures that the other party might take, so when signing the stock leasing contracts with the two banks, they added a penalty clause that required the payment of 15% of the total amount of the leased stocks in case of breach of contract, in order to restrain the actions of both parties and ensure the stability of this "transaction."

At this point, there is only one solution left, and that is to find the mastermind behind this incident and negotiate with him to make him stop. Only in this way can Hanbao Steel get through this safely!
As for using funds to repurchase stocks to stabilize the company's stock price, this most feasible method is simply impossible to do due to the serious internal financial deficit of Hanbao Steel. Negotiation has become the only solution at present!
What Zheng Taishou didn't expect was that before they could find Zhang Junfeng, an explosive piece of news made the front page headlines of major domestic media and news almost overnight!

There is a large amount of financial fraud and corporate deficits within Hanbao Steel, and it also falsifies its performance every year in order to obtain more loans from banks for its working capital!
The news caused an uproar! Even though Hanbao Steel sent a representative to hold a press conference to clarify the news, the result was still minimal.

Investors and retail investors who originally had confidence in Hanbao Steel, a large enterprise, began to sell their stocks, fearing that once the news was confirmed, the entire Hanbao Steel would collapse in an instant!
As a large number of stocks were sold by institutions and retail investors, Hanbao Steel's stock price plummeted in a very short period of time! Many financial professionals analyzed that under such circumstances, Hanbao Steel could only use a large amount of funds to repurchase the company's stocks to prove that the company did not have huge financial problems as rumored!

But what disappointed everyone was that even at this juncture, Hanbao Steel still did not take any action, and the repurchase of the company's stock that everyone expected still did not happen. This also made investors who were unaware of the situation more certain of the authenticity of the previously leaked news!
……

Jiangnan District, inside Jun He Law Firm.

Zhang Junfeng and Wu Mingxi, who were leisurely drinking coffee, had bright smiles on their faces while watching the news report on TV.

"Boss, your prediction is quite accurate. Hanbao Steel's deficit is definitely real. That's why they haven't spent a penny to buy back stocks and stabilize their own company's stock price after so many days! We will definitely make a lot of money this time!"

Unlike Wu Mingxi's excitement, Zhang Junfeng seemed much calmer. "This is just what was expected. What we need to do next is to wait for things to continue to ferment, and start buying back Hanbao Steel's stock when the stock price drops to the bottom to maximize our interests!"

"In addition, we must also pay more attention to the safety of the law firm and ourselves! No one can guarantee that these guys will not do anything desperate. After all, we have offended them very much this time!"

Although he was reminding the other party to be careful, Zhang Junfeng still had a bright smile on his face, and he was obviously very satisfied with this action!

(End of this chapter)