Starting with a fully invested A-share portfolio to become a capital...

Chapter 184 Multiple departments set the tone for the trend; has Zhang Yang become the Air Force Commander?

While Chen Sanrong was being thoroughly vilified by retail investors, several trading groups for speculative investors also erupted in a frenzy, with messages raining down like a downpour.

[Limin Road]: "I fucking bastard! Fishing to raise prices and then crashing at 924, Fuchun Road, I curse your ancestors!"
[Hujialou]: What happened?
[Brother Zhao]: Did Fuchun Road stock crash again? Which stock was it?

[Nanyang Battle Song]: Gezhouba Dam and Anhui Provincial Water Conservancy Bureau, I saw the abnormal activity notification yesterday and even went in to give it a push, but I didn't expect it to be that beast on Fuchun Road.

[Ma Xinqi]: ​​That's not right. He wasn't on Gezhouba's leaderboard yesterday. Could it be that he changed his seat in the past two weeks?
[Jumping Bro]: Fuchun Road has definitely changed seats. Everyone be careful. That bastard loves to fish for losses and then dump his shares!

While the speculators were discussing the matter, Chen Sanrong mingled with them. At this moment, he was like someone acting in "Infernal Affairs," so ruthless that he even cursed himself.

He couldn't help but sigh that the speed at which speculative capital could make money by banding together was far beyond what a lone individual could achieve.

Previously, it would have taken him at least six months to earn 200 million.

This is because in 2007, Chen Sanrong suffered a major setback in the A-share market. At that time, he was not so decisive and still fantasized about a V-shaped reversal. As a result, his capital shrank by 80%, and it was only in the last six months that he gradually recovered to tens of millions of yuan.

Because of his small capital, he cannot control the market on his own and can only follow the trend.

No matter which stock you want to control, the threshold is over 5000 million. If you have less than 5000 million, you can only follow behind the big speculative funds and eat scraps.

Of course.

Small-scale speculative funds can also band together to drive up prices.

At this point, some people may wonder, won't speculative funds stick together and get hit by a crackdown?
At the juncture of economic recovery in 2009, China's financial sector was just beginning to emerge, and the China Securities Regulatory Commission (CSRC) would not impose penalties unless things went too far.

For anything to develop, it must go through a period of rapid, unregulated growth.

This is why it was very common for funds to pool together in 2009, and financial regulation during this period mainly focused on foreign exchange and foreign investment.

[Jumping Bro]: That bastard on Fuchun Road has his eye on the South-to-North Water Diversion Project concept. Everyone be careful and don't let his tricks succeed.

[Jumping Off Building Guy]: Everyone should pay more attention to trending news and not get carried away.

[Jumping Bro]: What I hate most are those speculative investors like those on Fuchun Road who only care about their own enjoyment and don't care about the lives of others. They're simply beasts!
Chen Sanrong continued to take advantage of the situation, engaging in lofty discussions in the chat group.

Upon seeing the message, Liao Guopei, who was on the same floor as the financial research website, immediately complained to Zhang Yang and Lin Guangchang: "That guy who jumped off the building is pretending to be innocent in the chat group."

Which chat group?

Lin Guangchang inquired.

Liao Guopei: "The one created by A-God, this guy is playing Infernal Affairs."

The main chat groups for speculative investors are basically created by A-God using alternate accounts. Xu Xiang and Zhang Jianping are afraid of Iron Fist and never thought of creating their own.

For speculative funds of their size, there are many eyes secretly watching them, and if they are too blatant, they are likely to be made an example of.

Upon hearing this, Lin Guangchang quickly searched and, sure enough, found Chen Sanrong playing a double agent. He then looked at Zhang Yang and said, "This guy is really bragging, pretending to be a saint."

"Oh, right." Lin Guangchang suddenly remembered something and asked, "Joker, you don't seem to be in any speculative trading groups. Should I add you to one?"

"No need, there's nothing to talk about, and it would be better to avoid revealing my identity."

Zhang Yang refused outright.

The primary function of speculative investor groups is to build their own small cliques; no one discusses stocks in public groups.

Because sending text messages could potentially become evidence of wrongdoing, no speculative investor would be foolish enough to publicly discuss which stock they are manipulating.

Moreover, he has already joined forces with Liao Guopei and Lin Guangchang, so there is no need to look for new people. After all, the more people there are, the greater the risk of exposure.

"Indeed." Liao Guopei nodded in agreement, then asked, "Which vote are you controlling today?"

"Let me see."

Zhang Yang opened the document he had organized last night.

1. The U.S. Department of Commerce released preliminary figures for second-quarter GDP, showing that the economy contracted by 1.0% quarter-on-quarter. Although still in recession territory, the decline was significantly narrower than the 6.4% drop in the first quarter, indicating that the economy may have bottomed out.

2. The Bank of England announced that it would maintain its benchmark interest rate at 0.5% and continue its quantitative easing policy to support economic recovery.

3. Bozhou State-owned Assets signed a contract with Shanghai Pucheng Investment Co., Ltd. to transfer 40% of the equity of Gujing Group to the latter for RMB 4.65 million, marking a substantial step forward in the restructuring of Gujing Group, a long-established liquor company.

4. Rumors of Ziguang Guhan's restructuring continue to circulate, with some market rumors suggesting that the company will soon suspend trading for restructuring.

……

8. Significant breakthroughs have been achieved in the comprehensive mechanized mining technology of thin coal seams at Huangsha Mine. The 112-89 thin coal seam longwall face of the mine achieved a national record of 2058 tons per day, marking my country's leading position in the field of ultra-thin coal seam mining.

9. International oil prices remained in the range of $68-70 per barrel. The deputy director of the State Oceanic Administration revealed that day that China's offshore oil resources amounted to approximately 240 billion tons and natural gas resources amounted to 14 trillion cubic meters.

10. After the market bottomed out and rebounded in 2008, there was enthusiasm in the capital market. There were rumors that the securities transaction stamp tax would be slightly increased to tighten market liquidity.

Looking at the whole picture, yesterday's news was mostly positive for the market.

Judging from the significant narrowing of the initial estimate of US second-quarter GDP, the Bank of England's announcement to maintain its benchmark interest rate at 0.5% and continue its quantitative easing policy, and the fact that international oil prices have remained in the range of $68-70 per barrel, the global economy is in a period of recovery and growth.

Zhang Yang is very clear that the supporting logic for this round of economic recovery is massive stimulus, which directly results in the postponement of deflation.

Until "unlimited energy" is realized, the economic cycle is unavoidable; this is the fundamental path of the world economy.

10 seconds.

20 seconds.

30 seconds.

After pondering over the document, Zhang Yang looked up at Liao Guopei and Lin Guangchang and said, "Perhaps we could give baijiu (Chinese liquor) and mining machinery a try."

"Maotai?"

Lin Guangchang asked instinctively.

When talking about baijiu (Chinese liquor), one cannot avoid mentioning Moutai. If baijiu were ranked, Moutai would definitely be at the top of the pyramid.

“No, it’s Gujing Baijiu.” Zhang Yang said the name and then explained, “Bozhou State-owned Assets and Shanghai Pucheng Investment Co., Ltd. just signed a contract to transfer 40% of Gujing Group’s equity to the latter for 4.65 million yuan. Enterprise restructuring has been the main theme of the market for the past six months.”

Since the A-share market emerged from its historical low in November 2008, the market has been speculating on the concepts of asset restructuring and corporate reform.

Companies like ST China Eastern Airlines, ST Shanghai Airlines, ST Tangtao, Sinochem Group, Ping An Insurance, Shenzhen Development Bank A, Meijin Group, and Kainuo Technology, etc.

Every month, or more precisely, every two weeks, a company is reported to be undergoing share issuance, restructuring, or reorganization.

The reason why these companies with significant business adjustments have received less market attention is largely due to the popularity of concepts such as H1N1 influenza and the South-to-North Water Diversion Project, which have led to the continuous rise of large-cap blue-chip stocks and distracted investors.

"Gujinggong Liquor, 23.07 yuan, up 1.94%, with 5150 million A-shares in circulation, 6000 million B-shares, and 12350 million restricted A-shares."

Having spent a long time with Zhang Yang, Liao Guopei was also adept at reciting basic data.

Upon hearing this, Lin Guangchang immediately calculated the amount needed for short-term control and said, "In other words, controlling Gujing Gongjiu requires 1.18 million."

To gain short-term control of a stock, one only needs to acquire 10% of its circulating shares. In the A-share market, there are 515 million shares, so 10% would be 5150 million shares, with a total value of 1.18 million yuan.

As for B shares, these are shares specifically for foreign investors and are generally not available for purchase by domestic investors, so they are not a concern for them.

Seeing that the two were becoming more and more proficient in their work, Zhang Yang said, "The Huangsha Coal Mine has made a major breakthrough in the comprehensive mechanized mining technology for thin coal seams. We can try to push up the prices of Jizhong Energy, Tiandi Technology, and Zhongchuang Zhiling."

Jizhong Energy is a holding subsidiary of Jizhong Energy Group and a major contributor to the technological breakthrough in thin coal seams at Huangsha Mine.

Tiandi Technology is a listed company under China Coal Technology & Engineering Group. Its hydraulic support electro-hydraulic control system technology achieved a breakthrough in localization in 2008, and Zhang Yang found that it may have provided automation control solutions.

Zhongchuang Zhiling is not directly related to the Huangsha mine project, but as a leading domestic supplier of coal mining equipment, its products are widely used in the field of thin coal seam mining, and its technology path is highly compatible with that of the project.

All three companies have points of interest, and coal mining companies, as "hard currency," are easily favored by retail investors.

"Tiandi Technology, Jizhong Energy, Zhongchuang Zhiling, let me check their current stock prices..."

Liao Guopei has not paid much attention to coal because, in his view, the country has been emphasizing the development of green electricity in the past two years, and thermal power will eventually be phased out.

He generally avoids sectors with policy risks.

Not only Liao Guopei, but Lin Guangchang would also deliberately avoid it.

Why do they deliberately avoid it?

The reason is simple: you never know when a document will be issued from above, which is like having the Sword of Damocles hanging over your head.

However, their current strategy of quick entry and exit allows them to mitigate policy risks to some extent.

……

And at the same time.

the other side.

Beijing, China.

One after another, several black Audi cars drove into the Yanjing Conference Center.

People’s Bank of China Governor Zhou Chuan, China Securities Regulatory Commission Chairman Lin Shangfu, Financial Regulatory Commission Director Huang Haoxuan, Central Huijin Investment Ltd. Chairman Feng Junnan, and China Securities Finance Corporation Chairman Chen Bin arrived at Conference Room 103 one after another.

Since the Shanghai Stock Exchange submitted documents regarding the trapped funds yesterday, several departments have become uneasy. If this continues, it will definitely lead to a liquidity crisis in the market.

As the leaders took their seats, Lin Shangfu, the "village head" of the China Securities Regulatory Commission (CSRC), holding a prepared statement, went straight to the point: "The main topic of today's multi-departmental seminar is to discuss 'Preventing Liquidity Risks and Eliminating Bubbles in the A-Share Market.'"

"Clap clap-"

As soon as he finished speaking, everyone else applauded.

As the applause gradually subsided, Lin Shangfu glanced at the manuscript and said, "The current A-share market is characterized by 'stable total volume but unbalanced structure.' We not only need to readjust the capital structure, but also need to crack down on the irrational expansion of off-exchange leveraged funds."

"In addition, according to data submitted by the China Banking Regulatory Commission, the current scale of credit funds illegally entering the stock market has reached 4200 billion yuan. We need to use gentle means to withdraw credit funds from the stock market to avoid the accumulation of risks."

"Governor Zhou," Lin Shangfu said, turning to Zhou Chuan after initiating the discussion, "what is the central bank's stance now?"

"Cough-cough-"

Zhou Chuan cleared his throat and began to explain: "Regarding the problem of illegal lending entering the market and causing market overheating, our proposed solution is..."

1. A 15-day buffer period is provided to prevent excessive volatility in the capital market due to liquidity shortages.

2. Banks are required to strengthen post-loan management and issue risk warnings to accounts that continuously engage in "consumer loans + bank-securities transfers".

3. Establish a "blacklist" for credit funds entering the market, issue industry-wide notices to major violating institutions, and impose penalties.

The central bank's statement is very clear: it will continue to withdraw loans, and other departments need to take preventative measures against a liquidity crunch.

Huang Haoxuan, the director of the Financial Regulatory Bureau, nodded and continued, "A bubble is like a boil. If you want to squeeze out the filth inside, you will definitely experience pain. This is unavoidable."

"but!"

Suddenly, he changed the subject and looked at the chairmen of Huijin and Zhengjin, saying, "The pain must not develop into excruciating pain."

China Securities Finance Corporation Chairman Chen Bin and Central Huijin Investment Ltd. Chairman Feng Junnan immediately felt a chill. Both of them were seasoned veterans in the business world, so it was impossible for them not to realize that Huang Haoxuan was targeting them.

The phrase "painful contractions turning into severe pain" can be translated into plain language as: the price has fallen too sharply, and the decline needs to be gradual and rhythmic.

Chen Bin's eyes darted around, and he said in an official tone, "Whether it's contractions or excruciating pain, it's all a way of squeezing out pus. In the future, we will learn from this experience and strive to complete the task of withdrawing credit funds in a gentle, painless, and efficient manner."

“Chairman Chen is right. Huijin will also learn from this experience and cooperate with relevant departments to efficiently burst the credit bubble,” Huijin Chairman Feng Junnan quickly echoed.

Before anyone else could speak, a leader from the China Banking and Insurance Regulatory Commission (CBIRC) stated: "In order to further prevent financial risks, we will work with the CBIRC to establish a 'blacklist of credit funds entering the market,' launch a special 'penetrating tracing' campaign, initiate investigations against 12 banks involved in the case, and trace the responsibility for the entire process of loan approval, disbursement, and flow."

Everyone spoke in official jargon, conveying their own side's attitude.

After going through the process, all departments received a definite message: the bubble still needs to be deflated, but not with daily drops of 7% or 8%; a gentle decline is needed.

What is a mild decline?

To put it bluntly, it's like cutting meat with a dull knife.

Only by using a blunt knife can the credit funds be squeezed out without affecting the market's liquidity.

The central bank's 15-day deadline, Huijin and China Securities Finance's mild sell-off, and similar messages have been conveyed in official pronouncements.

After discussing for half an hour, Zhou Chuan suddenly changed the subject and said, "I heard that on the second day of Huaguo Construction's listing, multiple funds pushed up the intraday stock price, which constitutes stock market manipulation and has resulted in more than 300 billion yuan of retail investors' liquidity being trapped. Village Chief Lin, is this news true?"

"Mostly true."

Lin Shangfu did not deny it, but added "basically" to the fact that it was true.

What is the difference between "basically true" and "true"?
By confirming the facts, they are essentially admitting that there was manipulation of stock prices, resulting in over 300 billion yuan of retail investors' liquidity being trapped.

The phrase "basically true" implies that most of the statements are correct, but some details may be incorrect.

Sure enough, the next second, Lin Shangfu stated: "There was indeed a concentrated sell-off by multiple institutional funds, but at that time, the A-share market was in a period of collective correction, and many institutional managers could not judge whether Huaguo Construction's stock price would undergo a deep adjustment, which led to the concentrated sell-off."

When he said this, he emphasized the words "institutional funds".

Institutional funds are, in a sense, state funds, because many institutions are state-owned or locally controlled enterprises.

"I've also heard that a large amount of working capital is tied up, which serves as a reminder that we must weigh things carefully."

Huang Haoxuan stepped in to smooth things over.

Upon hearing this, the others silently took notes of the key points of the meeting.

……

During this secret meeting, Jizhong Energy and Tiandi Technology both hit their daily limit, but speculative funds in Zhongchuang Zhiling and Gujing Gongjiu did not fall for it and remained unmoved regardless of the fluctuations in their intraday charts.

With the resurgence of the 924 knife technique and the fishing-style price surge strategy, speculative funds have become extremely cautious.

Although they only attracted speculative capital from two stocks, making a few million was still achievable with proper handling. Of course, Zhang Yang, Liao Guopei, and Lin Guangchang weren't in it for the money; they wanted Chen Sanrong to leave behind evidence of his crimes.

At 3 p.m., the A-share market quietly closed.

On the last day of July, which was also the last trading day of July, domestic and foreign capital seemed to have reached a consensus, with a net inflow of more than 20 billion yuan.

The Shanghai Composite Index closed with a solid positive candlestick with a slight lower shadow, up 2.72%, closing at 3412.06, with a turnover of 2239 billion yuan, basically unchanged from the previous trading day.

The Shenzhen Component Index rose 3%, also forming a solid positive candlestick, reaching 13670.72 points, with a turnover of 1065 billion yuan.

The two major indices rose for two consecutive days, boosting retail investors' confidence that they could reverse the losses from the negative close on July 29.

[Dongji Island Owner]: This is too strong! The A-share market is too strong. The sharp drop was indeed a shakeout. I'm waiting for the market to open next week with thousands of stocks hitting their daily limit up. The market index will be a bullish engulfing pattern!

[ColaLovesSprite]: In this kind of market, maybe we shouldn't have a weekend off. I can't wait to see a bullish engulfing pattern.

[Lunar New Year's Day 10]: A-shares, what did you do? Why did I feel empty after your market closed on Friday, and even more so over the weekend, like ants were crawling all over me? What did you do to me?
[Fish from the Arctic Ocean]: Once you start investing in stocks, you'll do it again. Once you're hooked, you can't quit.

[K-line Master]: Are you all addicted to stock trading? I don't think it's hard to quit. I only do it five days a week and I don't feel anything at all.

Retail investors chimed in with their own opinions, having already forgotten the crash on July 29th. They went from fearing the market opening to looking forward to it.

Just when retail investors thought there was a high probability of a bullish engulfing pattern next week, Zhang Yang once again issued a reminder through the Caiyan.com membership channel.

[Financial Research Network Closing Commentary]: The Shanghai Composite Index recovered more than 100 points in two days, demonstrating strong resilience. However, we need to be wary of the liquidity risks brought about by the withdrawal of credit funds. In addition, the MACD lines are converging, indicating that the A-share market is at a turning point.

Zhang Yang's continued bearish outlook has left many users of Caiyan.com confused.

[Jia Ding Tavern]: Joker, what's wrong with you? Li Daxiao is always shouting "bullish" on Weibo, and you're always shouting "bearish" here, huh?
[The order has been changed]: Haha, Air Force Commander VS Bullish Governor, if you ask me, why don't you let Joker also name it after a bear?

[Not Going to the West Tower]: I watch Li Daxiao's videos every day, I'm familiar with him, how about calling him Credit Bear or Gliding Bear?
[White Sanctuary]: Just reduce your holdings and that's it. I saw a market news article saying that the government is going to raise the stamp duty, so everyone really needs to be careful.

Unlike the "bearish" sentiment on Caiyan.com, Li Daxiao's Weibo account is full of "bullish" comments, which indirectly reflects a clear divergence in market sentiment.

In Zhang Yang's view, the A-share market is already quite weak and is only being kept alive by state funds.

If government funds abandon market support, or even lead the sell-off, it could trigger an avalanche-like decline.

"The two consecutive days of rebound are very likely forming a double top trend. The lower shadow on July 29th is most likely a remedy for insufficient market support. Retail investors' greed often gets them into trouble," Zhang Yang muttered to himself.

Because he possesses the anchor of his past life's memories, coupled with the recent actions of the A-share market, he can basically assert that the Shanghai Composite Index and the Shenzhen Component Index are about to experience a sharp drop.

The lower shadow line on July 29th conveyed a lot of information, namely that the national funds may have overestimated the market's ability to absorb the losses.

why would you say so?

Zhang Yang speculated that the government funds were probably aiming to drive the price down by about 3%.

However, unexpectedly, there were too many profit-taking positions. As soon as the national funds dumped the shares, a large number of retail investors followed suit and sold off, causing the national team's traders to fail to react in time, resulting in a sharp drop in A-shares on the 29th.

Of course.

This was merely his guess.

Although it's just a guess, Zhang Yang believes it's pretty close to the truth, because the lower shadow line, as well as yesterday's and today's rises, were driven by index-weighted stocks, especially banks.

Who would approach a bank?
Retail investors?

hot money?

mechanism?

neither!
The banking sector, a pillar of stability, can only be swayed by state-owned enterprises, namely Central Huijin Investment Ltd., China Securities Finance Corporation Limited (CSF), and a few leading securities firms and mutual funds.

Although he foresaw a significant correction in A-shares, Zhang Yang dared not reveal it openly, and could only repeatedly remind people of the risks involved in A-shares.

"咚咚-"

There was a knock on the office doorframe.

Zhang Yang looked up and saw Yang Wei, who had been away on a business trip for several days to poach people from the Red Alliance. A tall, long-haired man was standing next to him.

"Mr. Zhang, this is Bing'er."

Yang Wei explained.

Upon hearing this, Zhang Yang quickly stood up and sized up the tall, long-haired man.

The other person had delicate features, with feminine facial features and long, black hair that fell naturally. If it weren't for the tight jeans and ripped T-shirt he was wearing, he would have thought he was a girl.

"this way please."

Zhang Yang quickly greeted them.

Bing'er and Yang Wei followed Zhang Yang to the negotiation area and sat down.

As soon as the three sat down, Yang Wei introduced, "Bing'er, this is Zhang Yang, Mr. Zhang. We can discuss the salary details."

"Calling me Bing'er in the real world makes me sound a bit effeminate. Just call me Wu Zheng. I've heard of President Zhang's reputation."

Before Zhang Yang could speak, Wu Zheng continued, "Regarding salary, I don't want to beat around the bush. An annual salary of 150 million yuan—if that's acceptable, I'll stay; if not…"

"can."

Before Wu Zheng could finish speaking, Zhang Yang agreed to his offer and continued, "Not only is there an annual salary of 150 million, but also performance bonuses and year-end bonuses. However, there is a condition: I do not want to see the Caiyan.com server paralyzed in any way. To put it bluntly, if the Caiyan.com server is attacked and paralyzed by hackers, not only will your performance bonus and year-end bonus be deducted, but your salary will also be reduced to 100 million."

The fact that the other party dared to offer an annual salary of 150 million shows that they are very confident in their own abilities, and since they are also a core member of the Red Alliance, their minimum performance level is guaranteed.

Offering high salaries is a skill in itself; it's because Zhang Yang wanted to build a cybersecurity team through him, or rather, with him at the core.

Zhang Yang may have connections in the capital market, but in the field of cybersecurity, Wu Zheng's connections are far beyond his reach.

They cultivated Wu Zheng as the core, then let him recruit people to build a team, and finally presented him with a "betting agreement"—a perfect closed loop.

Wu Zheng thought for a moment and agreed, "No problem. When can we sign the contract?"

“Take him to sign the contract.” Zhang Yang looked at Yang Wei, then his gaze fell on Wu Zheng and said, “If the team is short of people, you can also tell me or HR, and we will try our best to accommodate you.”

"understood."

Wu Zheng nodded slightly.

Not a moment.

He and Yang Wei left the office.

The two had only been gone for less than five minutes when Xu Zhirou rushed in without knocking.

"problem occurs."

"!!!"

Zhang Yang tensed instantly and asked, "What happened?"

"Tonghuashun said it would upgrade its website in 14 days, during which time there might be data interface incompatibility or data corruption. It felt like they were putting pressure on us."

Xu Zhirou kept it brief, her eyes filled with sorrow.

She genuinely didn't understand why the two major financial websites, along with other financial websites, were targeting Caiyan.com so aggressively; she had never heard of other financial websites receiving such treatment before.

However, what she didn't know was that other financial websites were backed by large capital firms, and Eastmoney and Tonghuashun were simply not to be trifled with.

As for Caiyan.com, they had already found out that Zhang Yang had only signed a "betting agreement" with Alibaba, and Ma Yun only held 5% of the shares, so the support she received was limited.

Strangely enough, Shen Jun, the CEO of Eastmoney, and Yi Zheng, the CEO of Tonghuashun, only used a few hundred thousand yuan to extract inside information about Alibaba and Caiyan.com.

They didn't dare to think about it in detail; all they needed to know was that Caiyan.com had no power, influence, or support.

With competitors entering the market and taking away market share, Eastmoney and Tonghuashun naturally have to squeeze them out.

"okay, I get it."

Zhang Yang silently made a note of it.

"Aren't we going to take any other action to retaliate?" Xu Zhirou couldn't help but ask again, hearing Zhang Yang's nonchalant attitude.

"Our database isn't ready yet, so it's not wise to completely break ties. Let's wait a bit longer."

Zhang Yang is not a reckless man; within calculable limits, he will repeatedly weigh the pros and cons.

"Ok."

Xu Zhirou agreed with this statement.

"Oh, right," Zhang Yang said, seeking opinions, "if Caiyan.com adopts a freemium model, could it drive out its competitors?"

"Free?" Xu Zhirou was stunned for half a second and asked in confusion, "We just broke even. If we offer free melons, we'll open up new gaps. Do you have that much money to subsidize this?"

"Besides!"

"You still have a bet!"

“That’s true. You should go back first. I’ll think about it some more.” Zhang Yang nodded slightly, weighing the pros and cons of the free business model.

The freemium model he mentioned involves attracting users with free gimmicks, quickly capturing the market, and establishing a user base advantage. Then, paid value-added services, such as premium features, exclusive benefits, and ad-free experiences, are offered to a portion of users to generate profits.

If Eastmoney and Tonghuashun continue to press forward, Caiyan.com will really have to flip the table and see who has the stronger endurance.

The labor costs of small companies and large companies are not on the same level.

……

Saturday, October 8.

Pudong, Shanghai.

Shangri-La Hotel.

Because the Capital Markets Exchange Forum is to be held at this hotel, the Shangri-La Hotel has stopped accepting outside guests since yesterday, and the hotel doormen have received basic training and can only enter with an invitation.

At 1:36 p.m., Yang Delong and his two teachers, Li Yining and Cao Fengqi, entered the hotel to find their branch venue.

With his graying hair and steady steps, Li Yining asked as he walked, "Is Zhang Yang really coming?"

"Yes, teacher. I called him last night to confirm," Yang Delong quickly replied.

"I heard that Zhang Yang is Bao Xingwei's favorite disciple, but I don't know if it's true or not," Cao Fengqi chimed in from the side.

He leaned on a cane, his back was hunched, but his eyes were bright and piercing.

The three walked very slowly, and people kept passing them and entering the branch venue first.

"I don't know if he's Bao Xingwei's favorite student, but Zhao Yanfeng often mentions him to me, as well as that guy from Peking University..."

"Dean Xiong."

"Yes, Xiong Xinghuai, those two love to gossip and boast all the time."

"Isn't that normal? Even Peng Ge has been full of praise for Zhang Yang. Today we can finally meet him in person."

"I heard he's been bearish on A-shares, so we can discuss that further later."

The three of them chatted as they entered the sub-venue for "China's Macroeconomic Outlook and Future Prospects." After finding their seats, Yang Delong immediately looked at Li Yining and Cao Fengqi and said, "Teacher, I'm going out to meet Zhang Yang."

"Well, let's go."

"Go back quickly."

With permission granted, Yang Delong quickly left the branch venue and headed towards the hotel entrance.

At the same time, Zhang Yang had already brought He Jing to the Shangri-La Hotel.

Perhaps it was the Mercedes-Benz S600 that spoke up for Zhang Yang once again, because the hotel doorman jogged up to him. He didn't ask if there was an invitation, but instead inquired whether they needed valet parking service.

"Let's sit in the car for a while." Zhang Yang casually handed over a 50 yuan tip.

"Okay, boss, I'm right over there. If you get tired of sitting, just let me know."

The doorman quickly stuffed the money into his pocket.

The ostentatious Mercedes was parked blatantly in the parking space at the entrance, without any hotel doorman coming to shoo it away.

Seeing this, He Jing couldn't help but sigh, "Money really can make the devil turn the millstone."

"Money is..."

"Teacher Da Xiao!!!"

"Ahhh, Teacher Da Xiao!!!"

"I love you, Teacher Da Xiao!!!"

Before Zhang Yang could finish speaking, screams and shouts came from outside the car window.

He and He Jing glanced to the side and saw dozens of people holding up their phones and cameras, completely surrounding an Audi car next to them.

The security guards, who were prepared, quickly stepped forward and cleared a path for the crowd.

As the car door opened, Li Daxiao, dressed in a loose American-style suit, with his hair slicked back and a smiling face, stepped out of the car and waved to greet everyone, saying, "Hello, comrades, hello, comrades."

(End of this chapter)