What's wrong with me being a rich man?

Chapter 658 Sweeping Through (4K)

Before the official listing, Yu Xing had already finalized all the procedures with the Hong Kong Stock Exchange.

Before 8 a.m. that morning, executives from silicon carbon, cornerstone investors, sponsors, and even the media had all entered and signed in.

The Hong Kong Stock Exchange put a lot of effort into the ceremony. Yu Xing and others arrived in suits, the large lightning bolt logo of the Silicon Carbon Group was already displayed on the big screen, and the emcee was adjusting the company's listing promotional video.

Representatives from IDG, Temasek, Capital Today, Goldman Sachs, and other institutions chatted in small groups about Silicon Carbon Group and recent news and gossip. At this stage of the company's listing, no one felt nervous at all. The stock price may fluctuate in the short term, but overall they are quite optimistic about the future of China's new energy industry.

Xu Xin glanced at the Hong Kong Stock Exchange representative who was preparing to give a welcoming speech on the other side, walked over to Yu Xing and asked, "Isn't that the person who voted for your listing before?"

Yu Xing didn't turn his head, but nodded directly and said, "That is Professor Zhang Minyi from Hong Kong University. She will definitely emphasize our compliance again in a moment."

Compliance is the central theme of Silicon Carbon Group's listing on the Hong Kong Stock Exchange.

Xu Xin clicked her tongue in amazement and asked again, "How are you going to resolve the conflict between Baidu and you?"

Yu Xing calmly said, "There's no friction between us. Carbon Silicon doesn't do search business, and Baidu's involvement in the automotive field is only for technical research; they won't engage in vehicle manufacturing. So there's no question of an ending."

Xu Xin laughed and said, "I think Li Yanhong is still quite angry."

Yu Xing shook his head slightly: "Even if you're in the wrong, you can still act tough."

He didn't know why Robin had to step forward, nor did he understand why he had to bring him up. Wasn't finding Bi Sheng a good target?

At 9:10 a.m., HKEX representative Cheung Man-yee took the microphone to deliver a speech for the listing of Silicon Carbon Group. As expected, after a brief welcome, she still emphasized the compliance review before listing and the compliance requirements after listing.

After a brief opening speech, Yu Xing gave a speech reflecting on the past, expressing gratitude, and looking ahead. Finally, Zeng Jia, a representative of Temasek, offered a short congratulatory speech.

The entire speech session lasted only ten minutes, consisting of two speeches at the beginning, five in the middle, and three at the end. After completing this process together, everyone walked together toward the gong of the Hong Kong Stock Exchange.

As 9:30 approached, the emcee solemnly began the countdown, and Yu Xing, Xiong Xiaoge, Xu Xin, Zeng Jia of Temasek, Huang Guobin of Goldman Sachs, and Cui Zhiyu of Silicon Carbon, among others, struck the gong three times together.

As the gong sounded on the big screen, it was announced that trading of the Silicon Carbon Group's stock had officially commenced, followed by the sound of celebratory cannons and enthusiastic applause.

Yu Xing smiled and clapped, glancing at the 2.73-meter-tall, 269-kilogram "lucky gong" that the Hong Kong Stock Exchange uses to strike. He breathed a sigh of relief, knowing that the promised options were not just worthless paper after all.

After everyone finished striking the gong, they stood in front of it and took a group photo, and then received a listing commemorative certificate issued by the Hong Kong Stock Exchange.

As is customary, the real-time stock prices of newly listed companies were displayed on the large screen. Yu Xing took photos with others as they competed for the alternation of red and green numbers. Cui Zhiyu and other executives went to the media area to be interviewed by Hong Kong Stock Exchange-designated media such as Hong Kong Economic Journal and Bloomberg. Other guests exchanged ideas freely and visited the trading hall.

Xu Xin circled around twice, then, seeing Yu Xing still slowly and freely arranging himself for photos, she couldn't help but walk over and urge him, "The media are all eagerly waiting for you, stop dawdling."

Yu Xing glanced at it, chuckled, and said, "They won't have any new topics to discuss, so they might as well take more photos together. I'm more satisfied with the listing of Carbon Silicon Group than with the listing of Baixiaosheng website."

Xu Xin was not satisfied. At this moment, the numbers on the big screen had turned red, indicating that factors such as the liquidity of the ChiNext board, the February sales of the Silicon Carbon Group, and international short-selling sentiment had clearly played a role.

Moreover, she now suspects there might be new developments on the other side of the mountain, because Li Song has been acting mysteriously lately, especially after their meeting in Hong Kong, where he seemed to be hiding something.

Yu Xing smiled and nodded at the Hong Kong Stock Exchange representatives who were watching him. He then walked toward the media area and said, "There haven't been any big news lately. It's all the same stuff. We haven't made any big moves either. We've just been making cars, developing the internet, and going through lawsuits."

Xu Xin felt that these words seemed to be directed at her, and without thinking too much, she said, "Not necessarily. You can also ask about the interaction between Baidu and you."

Yu Xing shook his head and went to the media, where he saw a Bloomberg sign.

He calmly accepted the media's polite congratulations, and as expected, he still heard questions about the stock price exceeding the peak. So he pointed to the stock price display on the big screen behind him with a bit of helplessness and said, "You can ask about the stock price falling below the issue price, but there's really nothing to say about the stock price exceeding the peak."

Regarding the issues of overshooting peaks and short selling, since appearing in Hong Kong, everything that can be said has already been said, and naturally, nothing that cannot be said can be said no matter how you ask.

However, media reporters and short sellers do not share the same stance, so such meetings are naturally intended to uncover hidden details.

A reporter from the Hong Kong Economic Journal said, "Mr. Yu, we believe that the stock price and market of Silicon Carbon Group will perform well this year. The current price is just a special stage in the ChiNext market. Moreover, many people are curious about whether you have shorted Baidu."

Yu Xing shook his head and said simply, "I did not short Baidu."

Another reporter followed up by asking, "Mr. Yu, Mr. Li from Baidu has been calling out short sellers, claiming that some short sellers are using public opinion to smear Baidu in order to suppress its stock price. We also know that Baidu has recently experienced fluctuations in public opinion and stock price, and there are many dissenting voices in the industry who believe that some of the criticisms are based on moral high ground. What is your opinion on this?"

Yu Xing paused for a moment before replying directly: "It is certain that Guo Shanfeng did not short Baidu. I have also noticed what you said. As for standing on moral high ground, I think sometimes we can't label someone just because we see criticism. Let's not talk about moral high ground or not, let's be normal people first."

The head of silicon carbon company gave a very direct response, which excited the reporter and the audience nearby.

Once a company reaches the level of a listed company and competes with giants, people like Li Yanhong and Pony generally don't engage in particularly confrontational public opinion. The competition takes place more at the company level, and even if there are some credible rumors circulating in private, they will be very careful to avoid discussing them in front of the media.

It's quite rare to hear such a comment.

The reporters' voices grew louder, and one asked a more targeted question: "Mr. Yu, how would you evaluate Ms. Li Yanhong?"

Yu Xing shook his head and said calmly, "I won't comment."

Since they were media outlets designated by the Hong Kong Stock Exchange, the reporters on site did not ask any further questions. Not commenting can be considered a form of comment, after all.

Seeing the reporters' eager expressions, Yu Xing took the initiative to steer the conversation back on track: "Let's not talk about anything else today. If you still have any questions about the Silicon Carbon Group, you can ask. If not, you're welcome to come over there and pick up our listing commemorative gifts."

"Mr. Yu, what is the sales target for Silicon Carbon Group this year?" the reporter asked cooperatively.

Yu Xing smiled and gave a goal: "We hope to sell 130,000 vehicles this year and launch a successful large five-seater model to provide more choices for users who are interested in our products."

The six-seater SUV segment has achieved success, but in any case, the five-seater SUV is more mainstream. Now, with the prestigious titles of the first domestic SUV and the first new energy vehicle, the five-seater model to be released at the end of the year will be able to obtain more resources. Moreover, with experience, the preparation and sales of the new model will have a much higher starting point.

"Mr. Yu, I heard that GAC Group in mainland China is also planning to launch a range-extended SUV model. Do you think this will have an impact on the market of Silicon Carbon Group?" The reporter asked a question that was closer to the competition.

Yu Xing answered without hesitation: "I have confidence in our cars, and I welcome more car brands to join the new energy vehicle race."

The Q&A session between the head of the Silicon Carbon Group and the invited media proceeded normally. However, as they went through the formalities, some people began to cast strange glances in their direction—more precisely, at Yu Xing, who was being interviewed. Yu Xing noticed, but didn't know what was going on. He glanced at the expressions of Xu Xin, Xiong Xiaoge, and the others, and guessed it wasn't anything too important.

He completed the interview a little longer than scheduled, and just as he was about to leave after shaking hands, a reporter who had already moved away suddenly rushed back, raising the microphone even higher.

"Mr. Yu, there was just a news report that a Baidu user died because of incorrect treatment information found in a search. What's your opinion on this? Do you think Baidu should take responsibility?"

Yu Xing paused, then frowned: "I don't know the whole story."

The reporter was somewhat disappointed, but then saw Mr. Yu extend his hand. He paused for a moment before realizing that the man wanted to see the whole story, and quickly handed over the tablet.

Yu Xing watched for about a minute, then silently handed the tablet back and said to the breathless reporters, "This is a tragedy that could have been avoided but became unavoidable because of Baidu's persistent problems in related fields. President Li knows better than anyone what Baidu is doing."

He shook his head, turned and left: "Let's all keep an eye on how things develop."

As an observer and a highly influential business figure, Yu Xing's immediate and direct comments upon learning of the public opinion situation undoubtedly satisfied the reporter.

However, as the reporter from Hong Kong Economic Journal watched Mr. Yu's retreating figure, he inexplicably asked loudly, "Mr. Yu, what is Baidu doing?"

Yu Xing replied without hesitation, "It's killing people."

This remark prompted the already satisfied reporters to immediately chase after them again, but they were immediately separated by security personnel.

Yu Xing ignored the question thrown his way and looked up at the company's stock price on the big screen, which was still in the green.

He frowned, completed the listing process for Silicon Carbon Group, and left the Hong Kong Stock Exchange with his entourage. Although he was questioned by other media waiting in the car as he got in, he simply got in and left without expression.

Compared to the reporters inside, the media reporters outside were unaware that the head of Silicon Carbon had given Baidu a response that would have a significant impact on public opinion. They were mostly asking about the situation at Shanfeng, but some also had questions such as whether he was shorting Baidu.

Xu Xin, who was in the same car, witnessed the latter part of Mr. Yu's Q&A session and couldn't help but ask, "You really didn't short Baidu?"

Yu Xing was checking the emerging public opinion information on his tablet. After a while, he shook his head: "No."

He didn't see the name that had appeared in Baidu's major public opinion events, but even without Wei Zexi, there were others. Baidu's medical advertising model is such that it's inevitable that some users will be wrongly influenced.

At this moment, Xiong Xiaoge said, "President Yu, your answer just now was too..."

Before he could finish speaking, he noticed that Yu Xing's gaze had become sharp.

Xiong Xiaoge suspected he might be kicked off the car, and his words became more assertive: "It's too easy to cause a huge uproar. After all, Guoshanfeng is still facing lawsuits. If Baidu's situation is true, the public opinion will be enough to make them suffer."

Yu Xing looked away, thought for a moment, and then shook his head: "Let's leave it at that. I'm already trying to restrain myself."

Xiong Xiaoge and Xu Xin exchanged a glance, both believing this statement.

The problem is that, given Baidu's situation, almost no industry leaders will come forward to comment. 360 is an exception because it competes with Baidu in the search field, and Zhou Hongyi himself has a outspoken personality. As for Yu Xing, he... is prone to getting into trouble and doesn't gain any substantial benefits.

The two looked out the window, but similar thoughts crossed their minds: Could they have really shorted Baidu?
Xu Xin thought about asking Li Song, while Xiong Xiaoge was thinking about the preparations for the Guoshanfeng Foundation.

The listed company, Silicon Carbon Group, was teetering on the brink of falling below its IPO price, and Yu Xing and his entourage quietly returned to their hotel.

The public opinion on Baidu, which had been brewing for only half a day, gained even more attention because the short seller did not shy away from his comments.

The Baixiaosheng website was at the forefront of the last time when Baidu Tieba was overly commercialized. This time, after witnessing the public opinion situation, it adopted a cautious attitude and first verified the information from WeChat. Someone even contacted the user to learn the specific situation.

Immediately, the entire website was filled with criticism of Baidu's irresponsible search advertising, as well as requests for short sellers to aggressively short Baidu.

Bi Sheng, who thought the public opinion storm surrounding Baidu had almost subsided, noticed the situation immediately and naturally did not hesitate to continue serving as a loyal friend.

Pinduoduo founder Bi Sheng gave a phone interview to Sina News, expressing his deep regret: "This is the evil deed of Baidu. Its rampant growth in search advertising destined what happened today. The entire management team of Baidu must conduct a thorough self-examination, and Li Yanhong is the person primarily responsible."

Bi Sheng, who stabbed Baidu three times, garnered some media attention. After all, he did have connections with the giant. However, most media outlets simply used Hong Kong media interviews, reporting with headlines or subheadings like "Baidu is killing people."

The medical field is extremely special. When Baidu Tieba was commercialized, it promised to make internal reforms. There was also an internal open letter from its head, Li Yanhong. Later, Bi Sheng directly mentioned the direction of medical advertising, but there was no effective response.

This time, before the related reports had even faded, a "murder incident" broke out, which inevitably made people even more indignant. Even some people who previously thought it was a case of dog-eat-dog business competition using moral high ground were shocked—this is not a high ground, it is just demanding that a company take on normal social responsibility.

That evening, Zhou Hongyi of 360 publicly commented on the matter, stating that "commercial interests should not be placed above the lives of users."

He answered questions in the comments section on Weibo, and one of his comments about a fan asking for his opinion on Yu Xing's daytime evaluation was quoted by the media.

Zhou Hongyi commented: "He's in a lot of trouble now, but to say something like that takes guts."

Later that day, 360 made a timely official announcement: "360 Search will abandon all commercial promotions in the medical field" and plans to cooperate with more manufacturers in the hope of losing Baidu's market share.

That evening, during Nasdaq pre-market trading, Baidu's stock price plummeted by three points, a prelude to the secondary market's trading.

Li Yanhong was in the headquarters conference room, frantically discussing how to mitigate the impact and make rectifications, when she suddenly received a message on her phone from Chief Scientist Andrew Ng.

Andrew Ng simply stated, "I cannot agree with Baidu's values, and I am now resigning from all positions."

Li Yanhong's face instantly darkened. The stock price was about to plummet, public opinion was still brewing, and internal turmoil was breaking out again.

He immediately looked at Xiang Hailong, the vice president in charge of advertising search.

Xiang Hailong sensed the gloom in his boss's eyes and knew that the person primarily responsible was going to make him, the second person in charge, take on the role of the primary person in charge.

He sighed almost imperceptibly, thinking, "Serves him right for being shorted by the king of short sellers."

(End of this chapter)