readx;

Chapter 1138 The Turbulent Danger

The fiberglass-shaped giant sailing building in front of the Aida Building has become a distinctive feature of the building, which is not only the location of Kumho Commercial North Company, but also the headquarters of the world's first Chinese portal Quantum Online. Pen | fun | pavilion www. ｂｉｑｕｇｅ。 ｉｎｆｏ

The news department produced a news feature with "Internet stock market crash, crisis coming" overnight, and Ma Xiangdong, Liang Wenjiang and other senior executives of Quantum Online looked solemn and couldn't relax their mood. With the support of Kumho, they gradually developed the website into the world's first Chinese portal Quantum Online, which was successfully listed on NASDAQ. At the peak of their careers, the entire management held a total market value of $600 million in the company's stock, which became a sensational wealth myth.

They have experienced the hardships and persistence of entrepreneurship, enjoyed the joy and passion of success, and have not experienced the ordeal of setbacks, Quantum Online fell 20% of its market value in two days, which is somewhat unprepared and hesitant about the future.

"It's really lightning fast, I don't know if I can stop the decline tonight......" Ma Xiangdong patted Liang Wenjiang on the shoulder.

"The company's operations are as usual, and in two nights, eight billionaires will be shrunk, which I really didn't expect before." Liang Wenjiang said.

"We didn't and didn't expect to get so much before!" Ma Xianglong laughed, "Do you remember when I was showing a movie in the school auditorium, I once mentioned my life plan? At that time, I only planned to dig the first pot of gold in my life before the age of 30, and I was very content to become a millionaire. ”

Even if the market value has shrunk, the total market value of the shares held by the company's management is still more than $400 million, which is a wealth that they did not dare to hope for a few years ago.

It's not so much about worrying about the shrinkage of personal wealth as about how Quantum Online will deal with the imminent online stock market crash.

"The video conference is connected!" Xiao Ma, the administrative secretary, walked in and told them that the video conference was ready, Ma Xiangdong and Liang Wendong walked into the conference room, and all the senior executives of Quantum Online in Beijing were sitting in the conference room. Everyone is very familiar with each other, start a business together, do not share with each other, the meeting will not be very dull, even now in this situation, everyone is chatting one after another, joking with each other, it is still difficult to hide the inner worry: if the Nasdaq index collapse can not be contained to form a rare stock market crash, what will they do?

The picture on the plasma screen of the ultra-wide screen hanging on the wall of the conference room is a slightly messy study, the study is empty, the study room is against the wall and there are bookshelves full of fine porcelain, in front of the bookshelf is a red maple desk, on the desktop is a laptop, mobile phone, ceramic pen holder is full of all kinds of pens, a wallet, in addition to a few cards with gold or black edges, you can see from the display screen that there is only a ten-yuan bill in the wallet, and a novel written by Yukio Mishima Kinkakuji.

"If Zhang Ke and I were left alone in a remote town without an ATM, maybe I would be ric......her than him," Ma Xiangdong pulled a chair and joked with Liang Wenjiang, waiting for Zhang Ke to appear on the monitor. Today's meeting was to discuss the current crisis facing Quantum Online and the strategies to be chosen, and Zhao Zilin, president of Oak Park Ventures, did not participate, but Zhang Ke personally participated, after all, it was not a formal board meeting, and other shareholder representatives were not notified to attend.

"It turns out that he will also read Yukio Mishima's novels, will he be a little flattering?" Yuan Jing, the chief financial officer, has never had the opportunity to contact Zhang Ke, but as a senior manager of Quantum Online, many things are clear, and the person who single-handedly created Kumho's economic empire is full of mystery in front of her eyes, and she didn't expect that there would be a random copy of RB literature on his case.

The picture shook, a giant hand appeared on the screen, and then there was a very beautiful nose bridge, when the nose bridge occupied one-third of the forty-six-inch wide screen, the nose bridge was very limited, and the people in the conference room were startled, watching the face that occupied the display screen gradually distance itself from the lens, and the whole display was on the screen, before getting used to it.

"You haven't slept in the past two days, okay, look at everyone's listlessness?" Zhang Ke honestly sat behind the desk and spoke to the camera, and the picture and sound were transmitted to the display screen here, but Zhang Ke was still holding a mobile phone in his hand.

Ma Xiangdong and Liang Wenjiang exchanged glances, they knew that Zhang Ke would have a spare mobile phone, but the spare mobile phone would be in the hands of the assistant, he had only one mobile phone in his hand, if the mobile phone in his hand was his, then whose mobile phone was on the desk? No wonder I think that mobile phone is an eyesore, it turns out to be too delicate.

Ma Xiangdong said teasingly: "Ke Shao didn't sleep either, right?" ”

At this time, a slender and tender finger appeared on the screen, and the finger pointed to the mobile phone on the table, Zhang Ke picked up the mobile phone on the table and handed out the picture, which really made people reverie: Who is the owner of the finger? When I saw the whole leopard, I saw this tender jade finger, and subconsciously thought that the owner of the finger should be a stunning beauty.

Obviously, it is impossible for ordinary female staff to casually put their mobile phones on Zhang Ke's desk.

"You cousin, you can catch up in the next life." Wang Cailing leaned over and whispered to Liang Wenjiang to laugh, "I remember that Tang Jing has always been in Hong Kong, and his two secretaries also went to the Hong Kong headquarters for internships......"

Liang Wenjiang smiled helplessly, his aunt often complained that the girls around Zhang Ke were too beautiful and it might not be a good thing, etc., he couldn't gossip about who the woman outside the camera was.

Zhang Ke's eyes re-saw the camera, he seemed to be aware that the female finger that suddenly appeared on the screen just now would cause some discussion, and he went straight to the point: "The situation is not very optimistic, the two-day plunge is likely to be just the beginning, Quantum's stock price is forced to be thirty dollars per share, you have to be prepared for this, Quantum Online's stock price is likely to be ten dollars per share for a period of time in the future......"

Zhang Ke's words shocked everyone present, a year ago on the NASDAQ opening price of nearly $10 per share, driven by the new economic wave and the frenzy of the Sino-US bilateral agreement, Zhang Ke predicts that Quantum Online's stock price will soon return to its original shape, so that everyone here is not shocked? No one had the heart to pay attention to Zhang Ke's affair anymore, Ma Xiangdong asked, "Is the crisis really so serious?" ”

"We are thousands of miles away without hard communication, all thanks to the development of telecommunications technology and large-scale telecommunications investment, but this level of communication demand is still very small, which highlights the excessive investment," Zhang Ke said, "Now the vast majority of network companies are developed in the mode of capital operation, and most of the operating capital is provided by venture capitalists, all of us who understand the nature of venture capital know that how can the bubble be suppressed in this process?" Elaborate lies, flashy packaging, and repetition blow up the bubble so much that venture capitalists are desperately trying to advertise the number of clicks on their websites or the level of attention they attract, and investors lose sight of what they really need to care about is a viable business model and future profitability...... Once there is a twist, these venture capitalists will slip away faster than rabbits...... The situation needs to be contained unless these venture capitalists and speculators do not hold their ground. ”

"Isn't there a turnaround?" Liang Wenjiang couldn't help but interject and asked.

"The crisis is only at the level of the capital market, and the excessive hype of the concept has brewed a huge bubble, but the actual application demand has been increasing over the years, and will continue to rise, after all, we are still on the right path, but a little ahead. Sooner or later, perhaps in two or three or five years, the capital market will be extremely dangerous, and it will not blindly slip, and overly detailed forecasts are not a task that economic analysis institutions can accomplish......"

Ma Xiangdong put his hand to his lips, this is his usual action when thinking, Zhang Ke's prediction is specific enough, Quantum Online is far from being able to achieve profitability, the capital market is in crisis, the door to refinancing will be closed, Quantum Online can only rely on the existing funds to support the moment of profitability or wait for the turnaround.

Ma Xiangdong put down his hand, smiled, and said, "Now it's time to tighten your belt and live......

In Kumho's influence, after the successful listing of Quantum Online on the NASDAQ, it still did not turn into the direction of aggressive investment, and the largest investment was to inject capital into the e-commerce website Zhuoyu, which was only two or three million US dollars, and the financial situation at this time was still quite abundant, although the advertising business income could not fully make up for the expenditure, but it was also growing steadily, and the key was to tighten the mouth at this time to prepare for a protracted war.

Liang Wenjiang asked again: "When can I choose to increase my holdings?" ”

"It's too early to discuss this at this time," Zhang Ke said, "What I can clearly say here is that the lock-up period of Oak Park Venture Capital's shareholding in Quantum Online will be extended for another two years, and I will have someone send you a fax to announce the news in due course, so that we can recover the decline a little, as for when to increase the holdings, it is better to discuss it depending on the development of the situation......

Compared with institutional investors, management is more constrained to reduce holdings, and people like Ma Xiangdong and Liang Wenjiang can only reduce their holdings of a very small percentage of stocks every year. The quota for reducing holdings had already been used up before the crisis erupted, and if they wanted to reduce all their holdings, they would have to resign from all positions in Quantum Online, and after the six-month time limit had passed, they could reduce their holdings without restrictions - this plan was obviously not a viable plan, and they could only sit back and watch their personal wealth shrink seriously with the deep drop in stock prices. Due to the reduction of a certain proportion of personal holdings at a high level, Ma Xiangdong, Liang Wendong and other high-level private individuals are still quite rich, with a total of almost 40 million US dollars, compared with investment in other fields, they are more focused on their own careers, moderately choose to increase their holdings, but also to enhance the management's control over the company, but the increase in holdings is also to choose the timing.

Oak Park Ventures is only an institutional investor for Quantum Online, and it can immediately reduce its holdings with a single announcement, and the only restriction is that reverse operations are prohibited within a six-month time limit. Due to the relationship between ESS and Oak Park Venture Capital, and since ESS only completely emptied its Quantum Online stock in early April, Oak Park Venture Capital Fund will have to wait until the beginning of October to increase its holdings.

Although Oak Park Ventures Fund will suffer certain economic losses if it gives up its holdings, it is necessary to ensure the relative control of Quantum Online, the stability of the management team of Quantum Online, and the ability to guide Quantum Online in the right direction.

Shanghai Securities News and other major domestic financial media reported on the online stock market crash that occurred outside the country, and the online concept stocks in Shanghai and Shenzhen were full of mourning.

"Financial New Weekly" published a report, directly pointing out that China's first e-commerce website enterprise 8818, which has been piling up a lot of funds, is the largest Internet bubble in China, and Haisu Technology has only 30% equity in 8818, and its market value has reached 167 billion, which is a bubble in the bubble.

The report was finalized a week ago, and it was purely out of luck to give Haisu Technology a blow at the time of the stock market crash.

Since the beginning of the year, there has been a lot of controversy about bubbles, but the stock market has been soaring, and those voices claiming that there is a bubble on the Internet have not been loud and have little influence, but at this time, such a report has been reprinted by many portals, and the impact has suddenly become great.

As soon as the Shanghai market opened, Haisu Technology poured out a large number of selling orders, and the stock price hit the falling limit within a few minutes, with a large backlog of selling orders, and occasionally small and medium-sized retail investors who did not know whether they were alive or dead to buy sporadically, but they were not large-scale at all.

"It won't be a big problem!" Hu Jinxing sat in a semi-arc light coffee-colored swivel chair, turning around restlessly, but his eyes seemed to be staring at the LCD screen, he and Chen Yong were looking at stocks in the manager's room of the Chuangyu Internet Cafe, although he said it easily, but the huge selling order still pressed on his heart a little breathless. Yesterday was still good, they raised 30 million yuan from Yunlin Securities to invest in Haisu Technology, and yesterday they also accumulated a profit of more than 2 million, and they vomited it up within a few minutes of opening today, and they also lost hundreds of thousands. Even if he knew that Hongxin and Jingdian had been planning for nearly a year in Haisu Technology, they would never give up easily, Hu Jinxing always had some worries in his heart.

"Why don't you ask Wang Haisu out for dinner?" Chen Yong's heart is even less steady, Hu Jinxing has a closer relationship with that side, and he is still in contact with Hu Jinxing all day long, he didn't expect that Haisu Technology has risen thirty times in the past 11 months, but when they are determined to make a big deal, they will cause a global new economy stock market crash. Although it is still too early to say that it is a stock market crash at this time, the vigorous reports of the media are shocking.

"There's nothing to worry about, I'll see if he has time to come out and eat together." Hu Jinxing picked up his mobile phone and tried to call Wang Haisu.

Wang Haisu's butt was almost glued to the chair, and he couldn't leave the headquarters building of Haisu Technology at all.

The total market value of Haisu Technology was once close to 17 billion, of which nearly 70% of the stocks are restricted from listing and circulating corporate shares and private placement shares, and the market value of unrestricted listed and circulated stocks is 5 billion, and the circulating market value of Haisu Technology shares held by a large number of related accounts controlled by Horizon Investment is almost 1 billion, that is to say, there are 4 billion market value of circulating stocks scattered in the hands of other investment institutions and retail investors, and the external situation is vicious. It's just that I didn't expect the pressure to be so huge, and the drop limit quickly backlogged more than 600 million market value orders after the morning opening, and by 3 o'clock in the afternoon, the sales accumulated to a billion market value.

Even though I had predicted that there would be a lot of pressure, I didn't expect the selling pressure to be so huge.

At three o'clock in the afternoon, the securities market stopped trading, and Yan Wenjie, Lin Xue, Wang Haisu, Liu Qijun, Zhang Wenxin, and several managers of the investment department held a strategic response meeting in the meeting.

"In another half an hour, the main European securities markets began to trade, after the main European securities markets closed, it was the turn of the North American securities market to open, if there is no reversal news in Europe and the United States tonight, tomorrow's selling orders will be more turbulent," Liu Qijun analyzed, he has not closed his eyes for forty consecutive hours, his eyes are bloodshot, and his voice is a little hoarse, "We can only use 500 million funds now, without the cooperation of media and public opinion, I am afraid that it will be difficult to resolve the selling pressure......

"Tomorrow you still have to stand still?" Wang Haisu asked.

Lin Xue pursed her lips in disgust, she can understand the truth, but Wang Haisu wants to ask more, if the 500 million funds on hand are exhausted, and then fall into complete passivity, now several major financial media are reporting on the stock market crash, even if you want to create a favorable atmosphere of public opinion, it is impossible to be tough, and if you sell too fiercely tomorrow, you can only let it go.

"After tomorrow is the May Day holiday, the Shanghai and Shenzhen stock markets will be closed for a total of nine days, nine days have passed, no matter how turbulent the European and American securities markets are, we should breathe a sigh of relief," Liu Qijun ignored Wang Haisu's question, and analyzed, "We should also make good use of these nine days......

"Well, I'll leave it to you here, and I'll go to Beijing in the evening." Yan Wenjie decided, "Even if we can't turn the media around, we will muddy the waters, and most of the economists who have the ability to muddy the waters are gathered in Beijing, and I want to hurry up and visit a few people -- of course, we are not the only ones who do not want to see the situation continue to deteriorate." On the side of Galaxy Securities, it will be entrusted to Mr. Lin......"

"It's only been more than 20 days, and I've been staring at them every day." Lin Xue said.

Liu Qijun said to Yan Wenjie again: "Do you want to make more preparations in terms of funds?" ”

When Wang Haisu heard Liu Qijun say this, he also turned to look at Yan Wenjie's face, and saw that he touched his nose and thought about it, knowing that he didn't have any plans to see him well, so he didn't say anything annoying.

Wang Haisu didn't notice until the end of the meeting that he saw that there were several missed calls on his mobile phone from Hu Jinxing, and when Yan Wenjie and Lin Xue left the headquarters building, he returned to the office to call Hu Jinxing back, and watched Yan Wenjie and Lin Xue's cars drive into the software industrial park through the floor-to-ceiling glass window, and then he went downstairs and drove to Xuefu Lane to find Hu Jinxing.

After all, Wang Haisu is nominally the president of Haisu Technology, and he can't run to the Chuangyu Internet café without anything to do, and meet Hu Jinxing and Chen Yong in the café opposite 1978 in the inner alley, they sit on the second floor, and they can see the 1978 on the other side of the alley through the glass window.

"What will happen tomorrow? If there is another drop limit, the deposit you lent us will be lost......" Chen Yong said anxiously, "We can only go to jump Xiaojiang to compensate you." ”

Hu Jinxing was a little calmer, and to put it bluntly, he and Chen Yong were speculating in the stocks of Haisu Technology in the periphery just to make some extra money, even if there were some losses, he could bear it.

When Haisu Technology was established to build a software industrial park, his uncle Hu Zongqing accounted for a considerable proportion of dry shares in Haisu Technology in his name. In addition to the huge amount of money in foreign accounts, Yan Wenjie also let him directly enter the work of Haisu Technology, promising to give him personal shares in the name of equity incentives.

Even if there is a wealth of hundreds of millions of dollars to be obtained in the future, but at the moment the money is quite tight, Hu Jinxing recruited Chen Yong to speculate on the stocks of Haisu Technology in the periphery to make some extra money, on the one hand, he did not expect that Haisu Technology would be hyped up by Horizon, and he felt that the previous distribution was a bit of a loss, so he wanted to get some compensation outside. Even if there is a loss now, it is just a little heartache, and he doesn't think that losing a few million is a loss now.

Chen Yong pinned all his hopes of making a fortune on this, and he was anxious, if there was another drop tomorrow, they would not be able to break their wrists if they wanted to be strong.

Tomorrow's operating tone has been determined, unless there is a reversal in the European and American stock markets, otherwise they will choose to continue to relieve pressure tomorrow, Wang Haisu doesn't know how to comfort Chen Yong, if it weren't for Chen Yong's Lao Tzu still has some use, he didn't bother to comfort him, and said: "The European market is about to start trading, maybe there will be some good news coming, the Nasdaq has fallen sharply for two days in a row, and it should be slowed down; Even if the situation tomorrow is not optimistic, the domestic May Day will be closed for nine days, and the situation will ease down after nine days...... "The mobile phone rang a few times, and a text message came in, which was a text message notification from the Ministry of Investment, and the main European securities markets began to trade, and the new technology economic sector was bleak, and there was a tendency to fall into a vicious circle, and the decline was even more fierce than yesterday.

Wang Haisu had a simple dinner with Chen Yong and Hu Jinxing in Xuefu Lane, and continued to go back to the Haisu Science and Technology Headquarters Building at night, but the North American stock market still failed to give people hope at night, and the Nasdaq index showed no signs of cheering up, and in the early hours of the morning, it fell 7% again.

Internet stocks have once again become the hardest hit area, and Internet stocks with a decline of more than 10% abound.

The management of Quantum Online and Oak Park Venture Capital Fund have announced plans not to reduce their holdings, which only makes the decline look better than that of other Internet stocks, after all, venture capital funds such as Goldman Sachs and Walden, which jointly participated in Quantum's online investment, are about to flee for their lives at this time. Everyone envies ESS for resolutely emptying 17 million shares of Quantum Online in the past four months, otherwise this time they will follow the road and flee for their lives, and the stock price of Quantum Online will fall even worse.

In three days, the NASDAQ, the indicator of the global new technology economy, fell by 20 percent, and more than $500 billion in wealth evaporated in three days, which was shocking and comparable to the Asian financial crisis in '97. The direct trigger of the Asian financial crisis took nearly half a year to brew, and the Nasdaq index capsized almost overnight, ostensibly because of federal judge Thomas Jackson's public remarks to the media, which caused Microsoft's stock price to turn from bullish to bearish.

The major securities markets in the Asia-Pacific region, including the network concept stocks in Shanghai and Shenzhen in China, continued to be hit hard, and Haisu Technology gave a market value of more than one billion yuan to sell orders as soon as it opened.

Chen Yong wanted to cry without tears, and it took only two days to go from a profit of two million to a loss of four million.

In the past eleven months, he used inside information to speculate on the stock of Haisu Technology and made a profit of less than one million, and almost all of it was squandered by him. Because he speculated on Haisu Technology and succeeded one after another, doubling the principal dozens of times, promising high interest rates, and taking the name of his Lao Tzu to swagger outside, naturally a large number of people dared to lend him the coffin, and it was also very convenient to take the margin to Yunlin Securities for financing, and as a result, it rolled to the scale of 30 million, and he wanted to earn 10 million and Hu Jinxing and the two of them made a five-point point, where would they think that the crisis would come, and they would not discuss it at all.

The only thing that comforted him was that one billion orders were pressed, and it was impossible for Yunlin Securities to close the position for them, as long as they raised margin, they would have the opportunity to turn over, and Horizon Investment would definitely take action, Chen Yong even wanted Hu Jinxing to ask Hu Zongqing, deputy secretary of the municipal party committee, to intervene, so that Yunlin Securities did not dare to forcibly close the position - if they were forced to close the position, they would not even have a chance to turn over.

With so many deposits, except for the hundreds of thousands lent to them by Wang Haisu, the others were borrowed by him, Chen Yong was a little worried that Hu Jinxing would deny it at this time, and sat in the manager's room for a long time, not seeing Hu Jinxing show his face, and he didn't know where others had gone.

The mobile phone rang, it was an unfamiliar number, Chen Yong answered the phone:

"Chen Yong, you said that Haisu Technology will definitely rise sharply, why did you fall two times in a row? I knew I couldn't rush this matter, so I just called and asked. Also, Uncle Wang, I've been a little tight lately, can you pay me back the 50,000 yuan I lent you before, and I don't want interest. ”

"It's only been two stops, Uncle Wang, are you scared? If you are not washed out, you are not determined, and when the big pull rises, you will become a drag and a hindrance, and there are some things I can't say too thoroughly -- I have invested all the money, Uncle Wang, even if you don't want interest, I can't get the money to pay you back now. Believe me or not, you won't have to spend Labor Day to find out, and what I can tell you now is that there will be important people who will stand up for online stocks tonight! Chen Yong coped with the phone and hung up the phone, watched the red line on the chart continue to pull a straight line at the drop limit, and picked up the teacup in his hand and smashed it on the computer screen in frustration.

Hu Jinxing just pushed the door in and was startled: "What are you doing?" ”

"It's nothing, it's sullen to look at! Where did you go for most of the day? Chen Yong asked angrily.

"What is your heart! What do you think I'm doing, I've been called to my uncle's office for a long time. Yunlin Securities, my uncle helped us say hello, on the basis of the margin paid, double the relaxation, as long as Haisu Technology does not come to the two down limits, we will not force the liquidation," Hu Jinxing looked at Chen Yong coldly, very annoyed that Chen Yongyong lost his temper with him, and said coldly, "Wang Haisu just got the news that Wu Xiaobo, deputy director of the Financial and Economic Committee of the National People's Congress, will speak this evening in support of the domestic Internet industry...... What do you think I'm doing? ”

"......" Chen Yong is also young and vigorous, and he can't easily wipe off his face, so he muttered a few words and said: "I'm also sitting here and I'm very anxious, since there is good news, I will settle down a little......"

"You just have that little bit of interest, and you don't have to worry about anything about the billions of transactions behind the horizon and Jingdian, just you can't hold your breath here!" Hu Jinxing said in a suppressed voice, and it was not easy for him to get out of his breath.

On the eve of Labor Day, Wu Xiaobo, vice chairman of the Financial and Economic Committee of the National People's Congress, denied the fact that the bubble had caused the domestic network development to swell too quickly and bring about a crisis with the title of "Giving Birth to the Awareness of the National Network Economy, Catalyzing the Upgrading of Traditional Industries through the Internet, Urging the Information Industry to Synchronize with the World, and Giving Birth to a Cultural Atmosphere of Entrepreneurship for the Whole People -- On the Positive Role of the Internet Bubble."

Quantum Online announced its financial tightening strategy on the homepage of the website that night, announcing that it would implement a number of measures including reducing management salaries, abandoning new recruitment plans, planning to lay off 8% of employees, and reducing administrative expenses to reduce the operating costs of the website, announcing the advent of the Internet bubble crisis more clearly.

As the first portal in Chinese and the first Chinese Internet company listed on NASDAQ, Quantum Online can almost be said to be the vane of domestic Internet companies, and Quantum Online's financial contraction measures have attracted the attention of the media and the public, quickly covering up Wu Xiaobo's influence.