The next day, the three companies of the Yimin Department launched an operation.

The announcement stated that the audit committee has jointly conducted a self-inspection with well-known local law firms and Deloitte Touche Tohmatsu.

At the same time, accusing Muddy Waters of confusion is that the so-called "evidence" is untenable, and everything that is done is to seek benefits for the short hedge funds behind it.

At the same time, the three companies of the Yimin Department also clarified the acquisition of Zhongjiang Trust.

There are no related party transactions, including bad debts left by former shareholders and management, and only the investment company composed of Yimin is responsible for recovery, and there is no need to cover the back.

The rest, such as "the risk control engine technology is not up to standard", "the borrower evades the debt" and other issues have also been clarified one by one.

Muddy Waters will naturally not rest on its laurels and issue another short report.

This report was written by Muddy Waters hired by a research company from each country to personally visit borrowers in Southeast Asian countries such as Indonesia and Malaysia, as well as in countries where Yimin business is conducted in China.

According to the report, the borrowers all believed that the interest rates of several financial companies in the Yimin system were too high, and made it clear that they would not repay these high-interest loans.

Yimin's internal loans totaling hundreds of billions of yuan, and the bad debts are conservatively estimated to be no less than 50 billion yuan.

Finally, it was also said that several companies in the Yimin system were suspected of inflating their revenues and profits.

There is a lot of evidence that Muddy Waters has come up with, and it looks quite like that.

This has frightened some institutional investors in the US stock market.

50 billion yuan of bad debts

With such a big hole, the combined market value of several companies in the Yimin system is only a little over $5 billion, which is not enough to fill the hole.

A large number of sell orders were thrown, which directly hit the stock prices of the three U.S. listed companies into an avalanche

A class action lawsuit was followed by a dozen law firms.

In the eyes of the outside world, the three companies of the Yimin Department are like a three-leaf boat in the storm, and they are in danger of capsizing at any time.

Investors with good relationships, led by Shen Beipeng and Xu Xiaoming, called one after another to express their condolences and concern.

At present, institutional investors who still hold shares in three companies, such as Gopher Assets, Morgan Stanley, Bank of America Merrill Lynch and other investors, are more excited.

"Mr. Zhang, we have to fight back, fight back fiercely"

Morgan Stanley doesn't have much of a stake in Yimin, but it still has some interests in it.

Evans only said that he was going to fight back, but he didn't say what Morgan Stanley was going to do.

Zhang Yida almost understood what they meant, that is, he wanted to encourage himself to go up and be tough, so that they could hide behind and pick up the fruits of victory.

It is really worthy of the old drivers of Wall Street who have money to earn together, and difficult teammates to carry.

"It's clear that this is a malicious shorting

But many institutional investors don't know about my companies, and they make a fuss at the slightest fuss, much like our big A-share scattered.

Let them build it with all their might, and we will respond to all changes with the same.

When our transformation plan is successful, the stock price will naturally rise back.

We should take a long-term view, and Mr. Buffett's value investing theory is very good. ”

Zhang Yida's words made Evans hesitate a little, what does this mean, shouldn't he just give up treatment

Evans advised: "Mr. Zhang, if left unchecked, the market is likely to lose confidence and the stock price will remain depressed for a long time."

At the same time, the company may also face a lot of troublesome litigation.

The most important thing is that there is no problem with our company, so can we let the muddy waters bully

The securities investment market pays attention to the law of the jungle, and if we do this, we will certainly be treated as the object of weakness and bullying, and more hungry wolves will pounce on us. ”

"The Hungry Wolf Pounces"

Zhang Yida smiled and pounced, so that the meat was fat enough.

Evans felt that everything that needed to be said was almost enough, and whether Zhang Yida was willing to listen to it was his own business.

The combined market value of Morgan Stanley's Yimin stocks is less than $100 million, and it will not risk helping Zhang Yida get ahead.

Because according to their understanding, some of the problems pointed out by Muddy Waters, such as the large number of Chinese borrowers evading debts, are real problems.

How big the pit inside the Yimin Department is, it is estimated that Zhang Yida himself knows best.

After Evans, Wang Jingbo also called.

She didn't expect to get out of the two pits of Yimin Wangjin and Yimin Loan now, so she chatted a few words weakly and hung up the phone.

Compared with these two old pits, Noah's wealth has stepped on a new pit.

Luo Jing, a strong woman who is even more powerful than her.

In the "2018 Business Mulan China's Most Influential Business Women Selection" held by Chinese entrepreneurs last year, Luo Jing won 133 votes, beating Gree's "Iron Lady" Dong Mingzhu and the female leader He Qiaonu.

Luo Jing owns three listed companies, Hong Kong's main board-listed Chengxing International Holdings, A-share listed Boxin shares, and Singapore's main board-listed CASG Hcare.

To put it simply, Luo Jing took an account receivable with Goudong and borrowed 3.4 billion yuan of supply chain financing from Gopher Asset Management Company, a subsidiary of Noah Wealth, with equity as a guarantee.

After Luo Jing's arrest at the end of last month, more information about her company surfaced, which is difficult to describe in words like a thousand holes.

Goudong began to shake off the pot at this time: Chengxing International was suspected of forging a supply chain financing business contract with Goudong, and the company had reported the case

Noah Fortune directly sued Goudong and Chengxing International in court, and is currently waiting for trial.

Goudong said that he was very innocent and directly disclosed Diss Noah Wealth: in the process of being defrauded, he did not verify the authenticity of the contract with Goudong in any way, exposing its own major deficiencies in compliance and risk control.

It is hoped that Gopher will face up to its management problems and work hard to improve its own professionalism, rather than trying to shirk its responsibilities by obfuscating the public.

Wang Jingbo had a war of words with Goudong while carrying out various aftermath work after the thunderstorm.

The current market value of the shares pledged to Noah is only about HK $45.4 billion, or about RMB 400 million, which is far from the financing amount of 3.4 billion yuan.

Noah's own stock price also plummeted from $4,474 in the previous trading day to $345 in shares, with a maximum decline of 23.

Investors are also making a lot of noise, demanding an explanation.

Wang Jingbo sent an announcement letter to explain to investors: From a macro point of view, the economy has come to the end of the cycle.

When the economy is down, collateral is exhausted, and the price of capital goods is no longer rising, there will be more and more thunderstorms, and the systemic risk will also increase

This may also be a fate that cannot be resisted by those who are engaged in the financial industry

As soon as these words came out, more people scolded her, and many customers asked for the redemption of their investments.

This incident once again exposed Noah's unprofessionalism, many investors plan to invest in Yimin Wealth or Yimin Trust, which is called doing practical things, and does not treat customers as fools.

Wang Jingbo is having a headache here, and Zhang Yida is counting the hedge fund's gains with Ding Siyao.

The market value of Chengxing Holdings has evaporated nearly 10 billion Hong Kong dollars, and they have ambushed and shorted the floating profit of nearly 200 million US dollars in advance.

Noah's wealth has lost more than $600 million in market value, and their hedge fund has also made more than $50 million in profits.

Combined, the two earned $2.5 billion

It's not a lot, but it's easy and it's like picking up money.

Ding Siyao is now completely convinced, and said with a smile: "Mr. Zhang, your news is really amazing. ”

Zhang Yida smiled and didn't speak.

"Do you still have this kind of financial fraud company in your hands?"

Zhang Yida shook his head very hard, "No, you really look like a cabbage on the street."

"Alright, now that the appetizers are gone, it's time to beat the dog behind closed doors"

Zhang Yida looked at the computer, the red piece of the self-selected stock, and the corners of his mouth rose slightly.