Wang Yue from Wanxiang Group took advantage of the recent stock market downturn, resulting in a significant decline in Anshi's shares. Surprisingly, this news was considered relatively positive for the An family, as it indicated that the funds entering the market were not from Tiansheng Capital. This suggested that equity was not becoming increasingly concentrated in Tiansheng Capital, and Wanxiang Group's actions were seen as profit-driven, positioning them as another player in the mix.
This unexpected development led to a reversal in Anshi's shares despite the broader market downturn. By August 21, Anshi's shares had achieved eight consecutive upward limits, reaching 30.62 yuan, a 9.99% increase, and a total market value of 483.796 billion yuan. Continuing this trend, on August 24, the shares hit nine consecutive upward limits, closing at 33.68 yuan, a 9.99% increase, and a total market value of 532.144 billion yuan.
This outstanding performance drew attention as Anshi's shares defied the overall market trend. Lu Ming's involvement, with a low cost price and a six-month holding plan, seemed to align perfectly with the current speculative environment.
Tiansheng Capital's holding of Anshi's shares reached 3.66 billion shares, accumulating a total value of 123.268 billion yuan, with an average cost of about 16.23 yuan. This presented a substantial floating profit of 63.866 billion yuan, doubling their original investment.
However, realizing such profits in the secondary market seemed improbable, and Lu Ming's intentions didn't appear to be an immediate cash-out in the capital market. As the market closed, Anshi Group received an inquiry letter from the China Securities Regulatory Commission regarding the recent abnormal fluctuations in its stock price.
Anshi's meteoric rise in August has led to concerns about a potential market crash. Investors, especially those who entered the market recently, expressed anxiety and uncertainty. The situation sparked various reactions in online forums, reflecting the mixed sentiments of investors witnessing Anshi Group's extraordinary market performance.
Blessings are unmatched, and misfortunes seldom come alone. Less than half an hour after the China Securities Regulatory Commission issued an inquiry letter to Anshi, a financial storm hit from Wanxiang Group.
Wanxiang Group's semi-annual report pre-disclosed a significant blow to its asset allocation business platform, revealing more than 30 billion yuan in bad debts, with the figure still on the rise, resulting in substantial losses.
The comment section of Anshi Co., Ltd. erupted in chaos:
"Double whammy! Those who chased the limit today are in trouble!"
"Calamities from all directions, a real mudslide!"
"This is more insidious than reality; someone is probably fleeing, which explains why they didn't increase their holdings. Damn, he must have run away!"
"The explosion in their financing business, and they still wanted to profit in the stock market to cover the losses? That's incredibly naive!"
"Run, brothers, the old king's scythe is raised... [Holding face]"
"Tomorrow will be a bloodbath!"
"This sudden stroke of bad luck; it's okay to score twice..."
"This market turmoil is thrilling!"
"Suddenly realized that Anshi's stock trend is almost identical to Nimatel A, with consecutive daily limits, and then... Your Anshi shares are a component stock of the 50, 150, and 300 indexes, and as a heavyweight white horse, shouldn't it be more stable? Demon stocks and junk stocks can't you settle down a bit?"
"Constantly stir-frying, a stroke of genius, a beautiful stroke... [Funny]"
...
On Tuesday, August 25th, Anshi's shares held a call auction at 30.31 yuan, opening at the limit-down price, with over 6 million orders queued up to escape.
On Wednesday, August 26th, Anshi's shares continued to open at the limit-down price, where any intentions of prying the board were swiftly buried.
On Thursday, August 27th, Anshi's shares only opened after two consecutive one-word boards fell. This triggered a massive fund exodus, leading to another limit-down in the afternoon. However, some bottom buyers stepped in, and the closing price was 24.67 yuan, down -9.57% after hours.
After the market closed, two well-known hot money traders expressed their frustrations on their personal social accounts. Clearly, they got caught in the Anshi shares' two consecutive limit-downs, and the pain was palpable.
...
At 5:00 in the afternoon, at Tiansheng headquarters.
"Wang Yue, the head of Wanxiang Group, has come for a visit," An Yirou informed Lu Ming. Despite the challenges at Tiansheng Capital, An Yirou remained in her position.
While the An family suspected that Lu Ming was holding An Yirou hostage, she was secretly content. Lu Ming was surprised to learn about the personal visit of Wanxiang Group's CEO. A few days ago, Wang Yue had enthusiastically purchased Anshi's shares, likely making profits even if he didn't exit the market. Lu Ming estimated Wanxiang Group's cost to be around 22 yuan.
More importantly, despite their earlier announcement hinting at a potential stake increase, Wanxiang Group had not raised its holdings above 5%, choosing to profit in the secondary market without exceeding that threshold.
With Wanxiang's boss making a personal visit, Lu Ming recognized the significance and promptly set aside his work to meet him.