legendary trader

Chapter 847 Chapter 848 Concealing Debt
That night, affected by Enron's poor financial report in the third quarter, Enron's stock price opened lower and moved lower. The intraday sentiment was sluggish, and there were hardly many buy orders.

In the past two days, investors with a little bit of strength have already left the market, and most of the rest are retail investors who entered the market greedy for cheap. Therefore, the market performance has been very bad for several days in a row, which is completely a trend of falling prices and decreasing volumes.

At the close of trading on Friday, Enron's stock price closed at 10.68 yuan, down 0.39 yuan, or 3.52%.

With the stock price hitting new lows, the force of the intraday sell-off has been reduced a lot. Most of the Enron stock holders are funds that entered the market during the current round of decline, and most of these funds have been locked in On the top of the mountain, there is no way to move at all. We can only wait for the stock price to reverse before we have a chance to make a profit and escape.

A few days ago, due to the continuous decline in the market, Chen Fan also refrained from making a move to cover the position, and still insisted on the short position of 2 million shares. In fact, at this time, he already regretted it a bit. It seemed a little early to cover the position.

2 million shares, the original purchase cost was about 17 million yuan. Looking at the current stock price, the loss of hundreds of millions of yuan is certain.

And the situation has developed to the present, Chen Fan has become more and more aware of the bad situation of Enron Company.

At the beginning, there was too much speculation that the company would take strong measures to protect the market, but it was obvious that Enron had no ability to stop the stock price from falling.

Especially in the case of repaying 30 billion yuan in debt last week, Enron's stock price trend has not ushered in a rebound, and Enron seems to be helpless.

If it is a normal company, if the stock price falls to this level, the company may have already repurchased the company's stock. At this time, entering the market to repurchase stock at this price will not only create value for the company's shareholders, but also a very cost-effective transaction in itself.

However, judging from Enron's inaction after that, the company also thought that it really had no money in its accounts, not even the money to buy back its shares.

After the end of the weekend trading, the focus of the media on the weekend has obviously shifted this week, and they did not continue to focus on Enron's pursuit. Although there were some analysis, it was all caused by the unsatisfactory financial report. It's pretty normal, there's nothing unusual about it.

No one doubted anything. They just thought that Enron might be out of money after repaying the debts. As for where Enron’s stock price would fall, who cares? It will naturally stop falling when it reaches a reasonable price. It can only show that the stock price has not fallen in place.

Chen Fan didn't pay attention to Enron Company during the weekend. Now that the overall situation is settled, he just needs to wait quietly. I believe there will be bad news about Enron Company coming out, so he doesn't need to dig it out.

On Saturday afternoon, Chen Fan returned to Baorun Mountain Villa. After a short rest, he went to the company. This afternoon, he wanted to hear Xie Kai's discussion on the previous project.

After receiving a call from Liu Ying on Friday afternoon, she found out about this matter, because Liu Ying had been in charge of following up the matter before, and now there are results, and since she is abroad, she naturally handed over the final decision to Chen Fan.

"1.7 billion yuan?"

Chen Fan sat on the boss's chair and looked at the document in his hand. It was a previous project about investing in Alima Company.

To be honest, when he nodded and agreed to continue the negotiation, it was mainly because of Liu Ying's face. He really had no interest in the so-called e-commerce conducted by Alima Company, because he thought about it from the perspective of a consumer. , I feel a little unreliable.

"After many rounds of negotiations and intermittent rounds, Mr. Liu also met with Ma Yun. Up to now, it is estimated that Alima's funds have reached the warning line, so they agreed to lower the market value."

Xie Kai said helplessly.

In fact, in his opinion, spending so much time negotiating this project is better than just spending money to start a company, which is as simple as Alima's business strategy.

He was a little exhausted after many negotiations, because Ma Yun was too difficult to deal with.

"I remember that they originally asked for 2 million yuan, but now it has dropped to 1.7 million yuan?"

Chen Fan recalled what he learned when discussing this project, "It seems that the Internet industry is still not favored by capital, how come it is only now at this price?"

Chen Fan couldn't figure it out. After the NASDAQ market crashed in the United States, the follow-up funds entering the Internet industry were much more cautious. At least he knew a lot. Many projects that were being negotiated or even negotiated projects were finally closed. Blow.

As for how Chen Fan knows this, every weekend now, he either attends the reception held in the investment circle, or finds his two Xiaomis to have a leisurely leisurely time. Not interested, just listening at will.

These days, most investment companies are starting to tighten up their projects. That is to say, Chaofan Investment is still spending money on investment projects because of its abundant funds. Of course, some of them have entered film and television projects. Although they don’t earn much, they can indeed make money. .

Therefore, Chen Fan is now considered a well-known figure in the investment circle of the imperial capital. If Tang Jianbin, Zhang Fuguo or Shen Wei were not in contact at ordinary gatherings, he would not care about them at all.

In fact, up to now, Chen Fan has faintly become a figure in the same level as those three in the investment circle of the Imperial Capital. This is all after Chaofan Investment has continuously invested money, and everyone can see that this is really a wealthy man. Master.

The only difference is that Chen Fan and Shen Wei are more similar, and they will not easily attend their parties, so most of them will invite Tang Jianbin or Zhang Fuguo to attract people.

In fact, Chen Fan also felt the same way. He already knew from Second Brother Wang that Shen Wei was in the same situation as him. topic.

Hearing Xie Kai's analysis of the current venture capital industry and the future development prospects of Alima Company, Chen Fan actually didn't pay attention to it.

To be honest, 1 million yuan, in his opinion, is really not much, and he can have it in the international financial market, as long as he wants it.

But still speaking, he still needs some industrial foundation, and this is the purpose of setting up a super investment company, and spend some small money to boost the growth.

"I remember at the time that Goldman Sachs was still going to quit. Has this been negotiated?"

Chen Fan waved his hand and interrupted Xie Kai's long speech. These things are in the document. If he is interested, he can come down and read it for himself. He understands it for himself. There is no need to sit here and listen to Xie Kai read it again.

"Contacted with Goldman Sachs, they agreed to sell their shares at a market value of 1.7 million yuan."

Xie Kai hastily interrupted his words and replied.

"The financing of Alima Company is not going well this time. They said before that they are unwilling to let a company take the share this time."

Chen Fan suddenly laughed.

Xie Kai on the side laughed twice, "The financing of Alima Company has indeed encountered obstacles. They want to contact domestic companies and disperse their equity, but domestic capital is not willing to invest in it at this time. Those foreign investors are not willing to enter now.”

"That is to say, if we spend this amount of money this time, how much can we become the third largest shareholder of Alima Company and get 19% of the shares?"

As Chen Fan spoke, he looked through the document in his hand, looking for the answer above.

“3230万米元，其中1千7百万给阿丽玛公司，还有1千5百多万是给高盛那边。”

There was no need for Chen Fan to search for the answer. Xie Kai on the side hurriedly replied that he was too familiar with this project. Talking with Ma Yun, I feel that this person is capable, but he is too difficult to deal with, and I don't want to deal with him anymore.

"Prepare the acquisition documents, ready, I will sign."

Chen Fan didn't want to continue entangled in this matter, it was just a small sum of money, no matter where it was invested.

As far as the money that can be expected to be earned from the investment project of Enron this time, it is more than enough to invest in ten or eight such projects.

"Okay Mr. Chen, then we will start drafting the acquisition contract next week and complete the contract as soon as possible so that we can complete the project as soon as possible."

Xie Kai smiled and said, it's finally over, Mr. Liu can do business.

Sometimes Xie Kai feels that working in this company is really tiring. The two bosses above can make a decision. Of course, this is Chen Fan and Liu Ying, and the other one who can make a decision is Zheng Xiaopang and Zheng Yu. But this guy obviously didn't want to take care of the company's affairs.

So far, Zheng Xiaopang still has the signboard of the company's financial director, but he only knows the situation, that is, the funds should be paid, but he has to report the situation to him every week because he needs to sign.

Although it is a bit of an afterthought, after all, the money has already been paid out, but you must know that most of the projects here are not paid out at one time. Many projects are allocated in batches according to the progress of the project development, so it will not What is the problem.

Moreover, he cares about it like this, but it just ensures the timeliness of the use of funds, because there will be no situation where the money cannot be transferred because no one can find a signature.

Of course, there is still a third-level review for money transfers. The project sponsor signs for the application for funds, the finance director signs, and his boss. When it comes to Zheng Xiaopang, it is the fourth-level signature, but generally patch.

Most of the projects were done by Liu Ying, and Chen Fan agreed with them all. What Chen Fan told him was to be done behind Liu Ying's back. Fortunately, it seems that Mr. Zheng Xiaopang and Mr. Zheng knew a little bit about these projects. All expenses are signed off.

A new week has begun, but Enron's stock price is still sluggish. It closed at 10.31 yuan on Monday and continued to fall on Tuesday. It once broke through 10 yuan in the session, but it was pulled back at the close and closed at 10.09 yuan.

But by this time, all blind people know that there is no suspense for Enron's stock price to fall below 10 yuan.

The long-awaited share repurchase proposal from the locked-in investors has not yet received a positive response from Enron.

In fact, this suggestion first appeared on the Internet, and was later brought to the TV station's financial program, because according to the current financial report of Enron, although the financial report for the third quarter of this year is not good, the current stock price is really worth it. Suspected of being underestimated.

And in this extraordinary period, the company should spend more money to stabilize the stock price.

But to the disappointment of all investors, Enron evaded this suggestion, and no one gave a positive answer to it.

On Wednesday morning, Chen Fan hadn't woken up from his dream, but the mobile phone beside his bed was already buzzing cheerfully.

Chen Fan sat up from the bed, rubbed his head, and seemed a little annoyed.

Picking up the phone and looking at it, he was surprised that Zhang Quan called. Although it was only 9:4 in the morning and he seemed to have only slept for [-] hours, he didn't hesitate too much at this time and answered the phone directly. He knew that when Zhang Quan called him, there must be some new news, and it must be something important and urgent, otherwise he would not have called at this time.

There is essentially no difference between contacting at this time and contacting in the afternoon. After all, during this time period, there is no transaction in Migumi, and there will be no loss at all.

Knowing that the news is earlier and later, is there any difference for the market that has been closed?

"Hey, what's the matter."

Chen Fan picked up the phone and asked, although he knew that something big must happen, but Chen Fan still had a bit of a bad tone because he was woken up after all.

"Mr. Chen, I just read a message from the American website that the money for Enron's loan repayment this time was raised through the fund of its affiliated company."

Zhang Quan's voice came from the microphone of the mobile phone immediately.

"Ok?"

Chen Fan didn't recall it for a while, "Is there any problem with this? What's the problem with the affiliated company raising funds?"

"This is the problem. Enron has never disclosed that this affiliated company has borrowed money. In other words, Enron's huge debts that have not been reflected in the financial report that have been circulated in the market before seem to have been hammered."

Zhang Quan's voice sounded again.

According to the information disclosure regulations of listed companies in the United States, Enron borrows or guarantees loans through its subsidiaries or affiliated companies. Because it involves listed companies, it needs to be disclosed in a timely manner and cannot be concealed.

Previously, there were rumors in the market that Enron secretly raised funds through its affiliates and some concealed affiliates, but these debts were not included in the financial report, and Enron exaggerated their shareholders' equity.

"Where did the news come from, is it credible?"

Chen Fan was sober now, and asked aloud.

"TheStreet.com website, a well-known financial website in the United States, has long been followed by Wall Street traders in the United States. Its influence is similar to that of the Bloomberg information terminal, but the timeliness is not so strong, but this website is more about tracking and digging news. , is still very influential in the American financial circle.”

Zhang Quan said on the phone that it is obvious that he has a high degree of trust in the articles published by such a large financial website.

This is not the information released by those street tabloids. Articles uploaded on such websites have a certain basis. If you write something casually, it can appear on it. Those who play finance in the United States will not read your stuff.

"The news has spread all over the financial circles in the United States. At first, our people didn't pay much attention to it. After all, it was public news. However, it was mentioned on many financial programs in the United States at night, so we noticed it."

Zhang Quan explained over there.

(End of this chapter)