The Peninsula Hotel, Hong Kong. Pen? Interesting? Pavilion wWw. ｂiquge。 ｉｎfo

Yoshida from Nomura Securities in Japan is drinking afternoon tea on the balcony of the sea-view house, he silently watches the sea water in Victoria Harbour, but his mind is divergent thinking about many, many events.

The rabbit family has been engaged in the 'large-scale development of the western region', but the results have been unsatisfactory for several years. In recent years, the Belt and Road Initiative has been carried out, which seems to be unstoppable but also carries great shackles, like a giant dancing with chains.

Japan is extremely vigilant and opposed to the rabbit's 'One Belt, One Road'. The reason is simple: Japan is an oceanic island nation, and all it has to do is make use of the ocean as much as possible. But in fact, if you open the world map, where is the center of the world?

It's Eurasia!

Americans have been called hillbillies for a long time, and why? Because the Americas are in a corner of the world, far from the center of civilization. If it weren't for World War I and World War II, which shattered the Eurasian continent, the United States would not have developed at all, and at most it would have been a large Saudi Arabia.

And with the powerful navy of the United States, it is very difficult for rabbits to compete with it for the sea. But the rabbit has a great advantage, the ancestors have left a unique geographical condition for future generations - the best territory in Northeast Asia has been occupied by the Han people.

If the Eurasian continent can be connected by land, there will be no American in future history. One of the reasons why the Americans are tossing around in Central Asia and the Middle East is that they do not want to see anyone who can integrate the entire Eurasian continent.

And where is the center of Eurasia? Continue to look at the map, in the rabbit's home of Xinjiang. Why is there a large airport in Wushi, Xinjiang, which is not very economically developed? It's because it's the closest to any point in Europe and Asia.

The Belt and Road Initiative is a very ambitious plan, but it is also because of the grandeur that it brings great difficulties. Some of the difficulties are artificial, and some of them are caused by geography. For example, the China-Europe train from Yiwu to London is more than 12,000 kilometers and takes 18 days!

If you can use an airplane, it only takes more than ten hours, but intercontinental flights require large aircraft, and the cost of transportation by large aircraft is too expensive!

The reason why the 'great development of the western region' was extremely slow was that a large number of railways needed to be built. The investment is large, the construction period is long, and the supporting facilities are complicated, which cannot be done overnight.

In fact, Western countries are not interested in the Belt and Road Initiative, and Japan and the United States have been fighting against it. They all thought, 'Nima, if such a difficult thing is done by rabbits, will there be a way for me to live?' ’

But now the emergence of Singapore Airlines has made the Japanese feel a lot of pressure, judging from the current popularity of the northwest to southeast routes of the flower planter, those rabbits are really not afraid of heaven and earth, dare to think and dare to do. The most important thing is that they really seem to be doing it!

When Ichiro Sakamoto, who was wandering in the northwest, sent back the idea of shorting SIA stock, the Japanese cabinet took it seriously and asked the domestic financial community to investigate the feasibility. If you can do sabotage, you must destroy it.

After reading Ichiro Sakamoto's report, the senior management of Nomura Securities also felt that there seemed to be a lot of oil and water here. This is not profitable, do not get up early, everyone sees the benefits before they pounce.

Several Japanese financial institutions want to form a group to farm monsters, and Yoshida from Nomura Securities is here to explore the way. To be honest, after a cursory look at the listing information of Singapore Airlines, he also felt that this was a big fat sheep.

SIA was spun off from China Southern Airlines not long ago, and China Southern Airlines was originally listed on the Hong Kong stock market. After the split, SIA retains the ability to raise funds through a Hong Kong stock market listing, which is still very beneficial to SIA, which is extremely eager for great development.

Yoshida made an appointment with a senior executive of Hong Kong's Cathay Securities today to talk about the specific operation of shorting stocks. It's just that when the two sides talk on the phone, the other party is not very optimistic about the prospect of shorting SIA.

"Yoshida-san, your ideas are good, but companies in the mainland sometimes don't operate according to common sense. We can lend our shares to SIA, but I don't think you can really short it. ”

Yoshida was surprised by the communication on the phone, and he looked for all the information he had collected again, and after thinking about it, he couldn't understand what was wrong. He went on to find several other financial institutions and even spent money on secret business intelligence obtained by certain investigative firms. Outcome.......

"Singapore Airlines restructured, suspended and then resumed, and its asset information changed many times. But how can it still be profitable? Yoshida was puzzled by this, "It's not bad if it doesn't lose money, how can it still be profitable?" ”

SIA is not only profitable in the cargo market at ultra-low prices, but it is also very profitable. Yoshida has bank data from commercial espionage in his hand, and from the perspective of cash flow, the gross profit of more than 100 large passenger planes of Singapore Airlines is more than 100 million yuan per day.

And this kind of operation? It's just against the sky!

No way, it's absolutely impossible!

As a listed company, it is punishable by a fine for disclosing false data.

If the opponent is profitable, then going short is a joke. The annoyed Yoshida carefully studied the information he obtained, and first determined one point - Singapore Airlines does not have to pay taxes, and fuel does not cost money, and these are super preferential policies given by the state.

"What a generous support!" Yoshida sighed. He knows that fuel accounts for about a quarter to a third of the operating costs of a large airliner. The state will suffer a huge loss by bearing this cost. "Sometimes I really envy the courage of the Shina government, it's really ambitious!"

But even if there is a fuel subsidy, it is still a loss!

Yoshida continued to look for what he was looking for in various statements, but he soon discovered another strange thing: the operating statements disclosed by Singapore Airlines did not include expenses for the depreciation of the air.

Hey......, that's not right, right?

All companies in the world will have equipment depreciation expenses, how can Singapore Airlines not have them? This doesn't make sense!

What is this operation?

Yoshida was once again in doubt, and he had to call contacts everywhere, but no one in the entire financial community could explain the problem. A huge fleet is equivalent to using it without spending money, who would do such a stupid thing?

Yoshida finally found the senior management of Cathay who was willing to provide him with information, and the answer he received was: 'The matter of the flower planting government is so strange, and now the financial community is speculating, and there is no answer for the time being.' ’

There are more than 100 large passenger planes, worth tens of billions of dollars, and the annual depreciation of the entire operation period is more than 10 or 2 billion dollars. You must know that many large companies do not make more than ten or two billion dollars a year! Whose money does it belong to?

The world's arms giant, the famous Lockheed. The Martin company sells weapons all over the world. Without Loma, the U.S. military wouldn't have to fight. However, its annual turnover in arms sales is more than $40 billion, and its profit is only a few billion dollars.

A year's depreciation of SIA can kill Loma!

SIA does not provide any explanation or disclosure to this question. And just when all the vampires around the world are baffled, the rabbit government said that the depreciation of Singapore Airlines will be counted on the annual public safety expenditure of nearly a trillion soft sister coins.

What？！

At a press conference of the State Council, the spokesman publicly stated: "In the past, because of the high cost of logistics and low economic development, it was a loss to engage in agricultural and sideline industries in the northwest. It is precisely because of this that a large number of people from the northwest are leaving the country, which has led to rampant separatist forces in the region.

But now, SIA's low-price policy has opened up a new situation for the prosperity and stability of the entire northwest region. As the agricultural and sideline industries once again appeared to be profitable, and even profitable, a large number of investment and agricultural people from the mainland poured in.

Our country's farmers are among the most industrious in the world. In order to make a fortune, our peasants went to Russia to farm, to Africa to farm, and to South America to farm. As long as we can make money, we are willing to go anywhere, and there is no reason why we can't go within our own country.

As long as the population flows in and the society is stable, the country's public security spending will generally decline. It is very cost-effective to cover the operating expenses of Singapore Airlines in the long run. ”

As soon as this statement was released, others were still lamenting that the rabbit government was really rich, but Ichiro Sakamoto, who had been in the rabbit family for ten years, was shocked in his heart - the farmers of the rabbit family looked honest, but they could do anything to make money!

How did the minority of the rabbit family come about? It's not that if you can't fight these seemingly weak peasants, you will become a minority!

Western countries have spent a lot of manpower and financial resources and paid a huge price in order to disrupt the northwest of the flower planters, but now they have been cracked by an airline.

Is there still such an operation in the world?