Rebirth of financial migrant workers

Chapter 472 Ji Dong's Gift of Stocks
The Hong Kong Stock Exchange has a long history, having appeared as early as the early days of the opening of the Hong Kong port in the 19th century.

After more than a hundred years of development, the various rules and mechanisms of the Hong Kong stock market have become relatively mature and closer to mature Western exchanges.

The A-share market we are familiar with is mainly composed of retail investors, who account for more than 80% of the total, while Hong Kong stocks are mainly composed of institutional investors.

Coupled with differences in liquidity, stock market systems, etc., the overall valuation of Hong Kong stocks is relatively low, while the valuation of A-shares is relatively high.

Among them, bank stocks from the mainland are the most typical.

The valuation deviations of the five major state-owned banks and large joint-stock banks in the two stock markets are still within an acceptable range, but those of local and regional banks are much more outrageous.

For example, the share price of Hartley Bank in Hong Kong once fell to HK$0.239 per share, which was only 5.25% of its net assets.

Is such a huge deviation simply caused by the valuation difference between the two stock markets?

Ultimately, external investors do not trust banks from the mainland.

In recent years, the profitability of some mainland banks listed on the Hong Kong stock market has declined and their asset quality has deteriorated significantly.

What worries Hong Kong stock investors most is that the actual non-performing loan ratio of these banks is often much higher than the figures they publish.

If you want to ask what the exact number is, institutions don't know, and investors are not clear. Such top secrets are only kept by the top executives of listed banks.

Business decline, information opacity
If we dig deeper, take the example of Hardy Bank, its share price is already far lower than its published net assets.

However, the listed bank did not repurchase the shares. Isn't this clearly allowing state-owned assets to be lost?
There are no fools in the financial industry. They naturally understand that the real situation may be that the net asset figures announced by the other party are questionable and the deviation is quite large.

It is precisely because there are many such examples that Hong Kong investment institutions habitually lower the valuations of mainland banks.

Although Mule Bank does not have the above-mentioned bad habits and has been thriving in Shuanghe Province in recent years, it is, after all, just a smaller regional bank. The management naturally knows that it will be difficult to change the traditional concepts of Hong Kong investors by listing the bank.

Therefore, since the beginning of its preparations for listing, Mule Bank has invited all four major accounting firms to conduct multiple rounds of audits on the bank's credit assets, profitability and other indicators, in an attempt to win the trust of Hong Kong and city investment institutions in this way.

However, what they did not expect was that despite having made a lot of preparations, the stock price still took a big dive when it was officially listed.

Wang Chunliang didn't know whether Ning Minghao remembered his previous reminder or not, and realized that it was Hua Jinxi who did something behind the scenes.

If no contingency plan is prepared, it may be impossible to reverse the situation where the other party releases negative news to suppress the stock price and conduct large-scale acquisitions.

At this moment, the future father-in-law and others must be very worried and have no time to look around.
However, on the day of listing, it was not only Ning Minghao and others who were worried, but also the ordinary employees of Mule Bank.

Ma Xiaobao has a short working experience and does not have much spare cash, so he did not subscribe to the internal shares of Mule Bank, so he is not very interested in whether the stock price goes up or down.

He glanced at the balance in his mobile banking account, then glanced at the date in the lower right corner of the computer screen, and patted Li Xiao on his right in confusion:
"It's already the beginning of the dog days, why haven't the heatstroke prevention and cooling fees been paid yet?"

Li Xiao has been on many blind dates recently, and his pocket is no longer able to bear the constant bombardment of those blind date girls who are spending their money on Western food and watching movies, so he urgently needs this money to replenish his income.

So when he heard Ma Xiaobao's question, he immediately resonated with it.

Yes, why hasn’t the annual 10,000 yuan heatstroke prevention and cooling fee been paid out yet?
In the past, the branch was never vague when distributing money, so why did it drag on until now this year?

"I have bad news to tell you. There will be no heatstroke prevention and cooling fees this year." Gangzi suddenly appeared behind the two of them and answered expressionlessly.

And his next words made Xiaobao and the others even more miserable:
"Not only is it gone this year, it will never be available again. In addition to the heatstroke prevention and cooling fees, all other holiday benefits have been cancelled."

"What's going on? We bankers all rely on these benefits to make a living, why are they being cancelled?"

"Is it because the branch's performance is not good this year? That's not right. Our branch's performance is far ahead of the rest of the province. How could we be out of money?"

Gangzi's words immediately attracted the attention of other employees gathered around, and they asked one after another.

"According to reliable inside information, all of this was caused by the listing. I don't know which bastard mentioned this during the audit of our bank before the listing, saying that if we continued to pay employees so recklessly after the listing, we would inevitably be protested by shareholders. Then the leader made a stroke of the pen and cancelled all forms of holiday allowances except for the Chinese New Year."

The innocent Ma Xiaobao asked:
"What the hell, why didn't anyone inform us that this would happen before the listing?"

"Oh, if this decision is announced before the listing, the employees' anger will be directed at the leadership. But if it is announced after the listing, the employees can be guided to point their spearheads at the new shareholders after the listing."

The topic of listing was popular in the industry for less than three days before its popularity declined significantly.

Benefits have been cut, but work remains the same and life must go on.

The hard-working employees have strong adaptability and self-regulation abilities. Although they complain verbally, they do not do anything out of line.

After a few days of slump, the share price of Mule Bank in Hong Kong suddenly saw a slight increase.

Huajin Group and other small and medium-sized institutions seemed to have discussed it beforehand and were all desperately buying up stocks.

The rise in stock prices is good news, but the increasing number of Mule Bank shares held by the Huajin Group is not a good thing.

Ning Minghao in the chairman's office regretted not listening to Wang Chunliang's reminder and taking precautions against this hungry wolf.

But it is not too late now. Ji Dong's foreign nationality is the biggest obstacle for him to invest in the bank.

How could a country allow banks that hold the lifeline of social economy to be controlled by foreigners?

Ning Minghao patted the materials he had prepared in his hands and prepared to go to the province to report on his work.

But at this moment, the secretary knocked on the door and came in panic:
"Chairman, something big has happened. Just now, Ji Dong announced that he has donated 96% of Huajin Group's shares to the Zhao Family Foundation in Shencheng."

"In this way, Huajin Group is a genuine domestic enterprise, but what is Ji Dong trying to achieve by doing this?"

Facing Ning Minghao's question, the secretary reminded again:

"Although the equity donation has been completed, I found that Ji Dong is still the chairman of Huajin Group's public announcement."

"The relationship between the Zhao Family Foundation and Uncle Ji Dong is not ordinary. They must have signed an additional agreement, stipulating that the donated shares are restricted assets, and the actual management rights of Huajin Group are still in Ji Dong's hands. The old man played this hand very smartly!"

After saying that, Ning Minghao threw the report materials in his hand into the trash can, and he slumped down in the chair powerlessly.

(End of this chapter)