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

Chapter 226 Undercurrents Under the Night: Mountain City Beer Exposes Vaccine Development Failure

As night fell, the stars twinkled.

The September nights were devoid of any coolness, only oppressive heat emanating from all directions, as if one were trapped in a steamer.

After reaching seven consecutive limit-up days, Shancheng Beer has reached a critical moment of "passing the tribulation".

Why is it called a tribulation?
The reason is that eight consecutive limit-up days will trigger the "Announcement of Serious Abnormal Stock Trading". The China Securities Regulatory Commission (CSRC) has also made explicit provisions on this matter, stating that the "Announcement of Serious Abnormal Stock Trading" must provide a positive response to the focus of market speculation.

In other words, Shancheng Beer must provide a detailed explanation regarding its curative hepatitis B vaccine, also known as its "synthetic peptide vaccine."

As night fell, Xu Haiou, the "social butterfly" of the Ningbo Limit-Up Daredevil Team, had already arrived in Chongqing and was drinking with Liao Ziliang, the vice president of Jiachen Biotechnology.

Inside the private room, beautiful women accompanied them, each one of whom was as pretty as a class beauty.

"I must toast Mr. Liao with this glass of wine. I am grateful to Jiachen Biotechnology for its contributions to hepatitis B patients worldwide. Once the synthetic peptide vaccine is on the market, it will be a boon to hundreds of millions of hepatitis B patients. I'll drink it."

Xu Haiou raised his glass, seemingly praising Liao Ziliang and Jiachen Biotechnology, but in reality, he was pointing out the key point of the dinner.

As soon as Xu Haiou finished his drink and put the glass down, the female companion immediately picked up a decanter and refilled his glass.

The other hostesses weren't idle either, all praising Liao Ziliang.

"I've heard that there are hundreds of millions of hepatitis B patients in our country. If we can cure them all, Mr. Liao and Jiachen Biotechnology will definitely leave a significant mark on human history!"

"Your name will be etched in history, Mr. Liao!"

"I'd also like to raise a glass to Mr. Liao to thank him for his contributions to human health!"

"Thank you, Mr. Liao!"

The female companions flattered Liao Ziliang, eventually attributing all the credit to him and showering him with praise.

Jiang Zhiqiang, the middleman who organized the event, quickly chimed in, "President Liao's contribution is worthy of a Nobel Prize nomination in Medicine. That's over 100 million lives at stake, haha!"

Liao Ziliang is a seasoned veteran of dinner parties; he wouldn't get carried away just because of a few compliments.

He waved his hand and smiled slightly, "I don't deserve it. Actually, Jiachen Biotechnology is not as great as you think. We're just working hard for a few coins."

Liao Ziliang was not lying; acting for profit is indeed an unspoken rule in the industry.

Why are there basically no cures for rare diseases?

The reason is that the number of patients is small, the cost of drugs is high, and the market consumption potential is insufficient to support pharmaceutical companies' investment in research and development.

Imagine a rare disease with only 1 patients worldwide. If you were a pharmaceutical company owner, would you be willing to invest hundreds of millions of dollars in developing a cure?

obviously.

It's highly unlikely.

Drugs have patent periods, and pharmaceutical companies have market evaluation teams. The birth of every effective drug is the product of careful capital calculation and "accidents".

Even if Jiachen Bio doesn't develop a curative hepatitis B vaccine, there's Guangfu Pharmaceutical. If neither of them develops one, there will be a third or fourth pharmaceutical company that will invest funds. The reason is that the number of hepatitis B patients worldwide is extremely large, representing a trillion-dollar market!

Xu Haiou's mind works incredibly fast. He gleaned from the phrase "a few taels of silver" what Liao Ziliang might be trying to say, and then tentatively asked, "In any case, synthetic peptide vaccines are a boon for hepatitis B patients, and besides, who doesn't love a little silver? This cannot erase President Liao's contribution."

“Everyone says that a gentleman loves money, but he acquires it in a proper way. Saving millions of hepatitis B patients is definitely the right way!” Jiang Zhiqiang echoed again.

As the middleman, he had already received a bribe of 10 yuan from Xu Haiou, so naturally he had to say all the right things.

The fundamental reason why many people have money but can't get things done is that they don't know how to find a middleman, or a guarantor.

Imagine you're walking down the street and a stranger suddenly asks you to do him a favor, handing you a box containing 50 yuan in cash. Would you dare to reach out and take it?

It's obvious that anyone with a brain wouldn't dare to take it.

1 is a stranger, and I don't know anything about them.

2. The amount involved is large, making it easy to be falsely accused.

But what if it's someone you know?
Hey!
The situation is different!

The phrase "introduction by an acquaintance" is not only applicable to places of entertainment; it can also be used to exchange gifts and build relationships.

Jiang Zhiqiang and Liao Ziliang were childhood friends. With Jiang acting as the middleman and guarantor, Xu Haiou was no longer a "stranger" to Liao Ziliang. After all, a friend of a friend is a friend of oneself.

Liao Ziliang understood what the two were trying to say. He stood up, raised his glass, and said, "Since you two have come this far, let us wish for the early launch of the synthetic peptide vaccine, for the sake of Suiyin, and for the health of millions of hepatitis B patients."

"For the sake of hundreds of millions of hepatitis B patients!"

"For their health!"

"May the synthetic peptide vaccine be available soon!"

"cheers!!"

The glasses clinked together with a crisp sound, and everyone drank their drinks in one gulp before moving on to the simple act of eating.

The brief conversation just now has led Xu Haiou, Jiang Zhiqiang, and Liao Ziliang to reach a preliminary consensus on cooperation.

Because of the presence of female companions, they couldn't speak too openly.

……

The dinner party lasted until late at night. After Liao Ziliang and Jiang Zhiqiang each took a beautiful woman up to their hotel suites to rest, Xu Haiou, who was sitting in the private room, finally dialed Xu Xiang's number.

"Dududu-"

After a brief busy signal, the call was connected.

"Hey Xu, is everything settled?" Xu Xiang on the other end of the phone went straight to the point; he knew the purpose of Xu Haiou's trip.

"It's basically done." Xu Haiou paused for a moment, then said, "They're busy right now. I estimate that around 1 or 2 a.m., they'll be able to have a frank talk with Liao Ziliang. What about you, Chief?"

"I've basically reached an agreement on my side as well."

Xu Xiang smiled faintly.

Because they were tasked with controlling the "demon stock" of 2009, they not only had to bear the responsibility of shaking out weak hands, but also had to balance the funds from all sides.

Xu Haiou's purpose in contacting Liao Ziliang was simple: to have him release negative news in tomorrow's "Announcement on Serious Abnormal Stock Trading" to shake out all the retail investors' shares.

To avoid panic selling by public and private funds, which would lead to insufficient buying support, Xu Xiang informed some institutions holding a high proportion of Shancheng Beer shares of his plan to shake out weak hands.

As for other speculative funds, in Xu Xiang's eyes they are no different from retail investors; they are all targets to be exploited.

"It's good that we've reached an agreement. The weather here in Sichuan and Chongqing is really hot and dry. I'll go cool off too," Xu Haiou said meaningfully.

Xu Xiang: "Don't forget to get down to business."

"How could we forget? The concept of a curative hepatitis B vaccine is the key to our growth to a market size of tens of billions. Don't worry."

"As long as you know your limits, that's fine."

"Don't worry, don't worry."

After hanging up the phone with Xu Xiang, Xu Haiou quickly searched his contacts and asked an acquaintance to introduce two girls to him.

While Xu Xiang and Xu Haiou were busy trying to control the market for Shancheng Beer, Ma Xinqi was also busy guiding public opinion among retail investors online.

Is this the day Chongqing Beer faces a major crisis? Tomorrow, September 16th, will the leading company in the curative hepatitis B vaccine sector be able to achieve an eight-day winning streak?

"Shancheng Beer achieves 7 consecutive daily limit-ups! The concept of a curable hepatitis B vaccine has completely ignited the A-share market, with related concept stocks collectively hitting their daily limit. Want to know where the top of this trend is? Let me explain!"

Shocking! The number of hepatitis B patients in China has reached over 8 million. Experts predict that the potential market for a curative hepatitis B vaccine will exceed one trillion yuan. Can Shancheng Beer, the leading stock in this concept, break through its eight-day winning streak?!

Since nightfall, numerous news articles of this kind have flooded the internet, seemingly reminding retail investors to be aware of the risks, but in reality, each one deliberately emphasizes the eight consecutive limit-up days.

Why emphasize 8 consecutive limit-up days?

Because an eight-day winning streak would trigger a "Serious Abnormal Stock Trading Announcement," these news reports are meant to remind retail investors to pay attention to the contents of the announcement.

If it's too straightforward, retail investors will become suspicious and might notice that it's a shakeout.

Now, people are only reminding that Shancheng Beer is about to reach its 8th consecutive limit-up. Retail investors can follow the 8-limit-up trend and naturally find the negative information carefully prepared by the Ningbo limit-up daredevil team.

Besides the Ningbo limit-up daredevil team operating, two market researchers, Wang Xi from Industrial Securities and Liao Wanguo from Huachuang Securities, have quietly deleted their market research reports, seemingly contradicting their previous views.

One step after another, and only in this way can the retail investors inside the ticket be cleaned out.

……

The next day, February 9th.

Because Japan uses the UTC+9 time zone, while China uses the UTC+8 time zone, the former is one hour ahead of the latter.

Just as China arrived at 9 o'clock, it was already 10 o'clock in Japan, and the results of the Bank of Japan's policy meeting had been released. They will maintain the unsecured overnight call rate at 0.1% and stated that they will continue to pay attention to the sustainability of the economic recovery.

In less than 10 minutes, Bloomberg delivered its policy interpretation.

[Although the Bank of Japan's policy meeting did not introduce new tightening measures, the cautious wording suggests that major central banks around the world are considering exiting quantitative easing policies.]
This Bloomberg analysis was like a bombshell dropped on the Nikkei 225 index, causing the entire market to fall.

Currently, there are not many currencies that can be called world currencies. Besides the US dollar and the euro, the only other options are the British pound, the French franc, and the Japanese yen.

If Japan announces its withdrawal from quantitative easing, it will deal a heavy blow to the global economic recovery.

The rapid recovery of the global economy may not be clear to the average person, but international capital institutions do know that it is simply due to massive monetary easing by central banks around the world, using huge amounts of funds to drive economic recovery.

The clues can be seen at the G20 finance ministers' meeting on September 5, where finance ministers from various countries pledged to maintain policy continuity in the early stages of economic recovery and avoid prematurely withdrawing stimulus measures.

Previously, the inability to counter economic cycles stemmed from the inconsistent pace of different countries, with some easing monetary policy while others did not.

This is similar to walking with your feet tied together; if two or more people are not walking in step, it is easy to fall.

But this time it's different. Central banks around the world have jointly launched economic stimulus policies, which is basically a coordinated effort to inject liquidity. The overall pace is consistent, and initial results are already visible.

The Bank of Japan's cautious remarks not only caused its own stock market to plummet, but also dragged down stock markets across Asia.

South Korea's KOSPI index fell 3.9%, Singapore's FTSE Straits Times index fell 2.77%, India's Bombay Stock Exchange 30 index fell 4.96%, and Hong Kong's Hang Seng Index also fell, currently at 19764 points, a drop of 1.84%.

With the entire Asian market declining, the A-share market naturally couldn't remain unaffected, given that it's globally known that "A-share tycoons" (referring to the A-share market's financial leaders) like to foot the bill.

The Shanghai Composite Index opened 0.2% lower at 3027.51 points, while the Shenzhen Component Index also opened lower at 12396.5 points, a drop of 0.34%.

It's worth mentioning that when the A-share market opened, the interpretation of Japan's interest rate meeting had not yet reached the domestic market. As soon as the news reached institutional investors, a large number of mutual funds began to sell off their shares to avoid potential risks.

3021 points.

3009 points.

2994 points.

The market broke through the 3000-point mark without encountering any resistance, with the financial sector, including banks and insurance companies, once again leading the sell-off.

Retail investors, whose information is relatively slow, are unaware of what has happened and are watching the market index fall below 3000 points with blank expressions.

[Captain is about to take off]: What's going on? What happened?
[Loli is the best]: Can banks be delisted? It's them again leading the market crash, this is never going to end. Can the 3000-point mark be held?

[Past Events Drift Away with the Wind]: Didn't we agree to a target of 4000 points? I guess I'm the only honest person who actually believed it, right?

[Stupid Little Haizi]: 666, they're not even putting on an act anymore. This is just a pure scam to lure retail investors in and fleece them. Let whoever wants to fight this 3000-point battle fight it out. I surrender!

While retail investors were at a loss, Caiyan.com, Eastmoney, Tonghuashun, Sina Finance, and Penguin Finance almost simultaneously released the content and interpretation of the Bank of Japan's interest rate meeting.

The retail investors, who were initially bewildered, suddenly realized that they lacked strategic vision and were simply following the trend to sell off their shares.

The Bank of Japan is taking a cautious approach; who knows what other central banks are thinking?
Getting a head start and earning less money is better than being stuck at the top of the mountain feeling the wind.

2988 points.

2976 points.

2965 points.

The Shanghai Composite Index has fallen by more than 2%, and panic is spreading rapidly.

Unlike other retail investors who like to speculate and chase after volatile stocks, these retail investors have managed to avoid losses during this downturn.

Stocks related to the curative hepatitis B vaccine concept almost unanimously rose, with the leading stock, Shancheng Beer, showing an exceptionally strong trend of eight consecutive daily limit-ups in eight trading days, currently trading at 45.59 yuan.

The intraday chart showed eight consecutive days of limit-up trading, coupled with the continued fermentation of public opinion, leading many cautious retail investors to choose to sell their stocks rather than gamble on the content of the "Announcement of Serious Abnormal Stock Trading".

Happiness belongs to those who are content, and this applies to the stock market as well.

……

And on the other side.

Financial Research Network office space.

Zhang Yang, Liao Guopei, and Lin Guangchang were all intently watching the market, especially the stocks related to the curative hepatitis B vaccine. "Tiantan Biological Products indeed plummeted, with trading volume shrinking by almost half, but it didn't hit the daily limit down. Perhaps the major shareholders haven't finished unloading their shares yet!"

"The intraday trading of Shancheng Beer is quite interesting. There are consistently large sell orders. Is it retail investors, speculative funds, or institutional investors selling off their shares?"

"Guangfu Pharmaceutical is also shipping out its stock, and they're not even putting on a show. The opening auction saw a surge of 10 lots, which seems like they're aiming to clear out their entire inventory."

"Are they all shipping out their products? Is the market for curative hepatitis B vaccines over?"

"Probably."

Just when Liao Guopei and Lin Guangchang thought the rally was over, Zhang Yang, who had been keeping a close eye on Guangfu Pharmaceutical, shook his head and said, "It won't end so quickly. Speculative funds and institutions have finally caught a new market trend, so this rally will last for at least a while longer."

Although the concept of a curative hepatitis B vaccine was hyped up once in 2006, it was during a bull market at that time, and coupled with the uncertainty of research and development, it was never even considered a viable option.

What now?
The market is chaotic and lacks a clear direction.

The announcement by Shancheng Beer that its "synthetic peptide vaccine" has entered Phase II clinical trials has undoubtedly provided the A-share market with a main theme for speculation.

After all, a curative hepatitis B vaccine has all the necessary conditions to become a main market trend, such as the time and space for hype, the supply chain of upstream and downstream enterprises, and a trillion-dollar market.

"So, Xu Xiang and his team are washing out the market?" Liao Guopei looked away from the screen and towards Zhang Yang on the side.

"It is highly likely that since last night, a large amount of news about Shancheng Beer's eight consecutive daily price limits has appeared on the Internet. I suspect that someone is pushing this up behind the scenes."

Zhang Yang said in a deep voice.

"Adding fuel to the fire." After careful consideration, Lin Guangchang voiced his guess: "Could it be that they want retail investors to focus on the 'Serious Abnormal Stock Trading Announcement' behind the eight consecutive limit-up days? Did Xu Xiang and his group know the contents in advance?"

"That's quite possible. He's an institutional manager at Zexi Private Equity now, so it's normal for him to secretly transfer some benefits to others."

Liao Guopei responded quickly.

Zhang Yang pondered for a while before speaking cautiously: "Shancheng Beer didn't achieve its eight-day winning streak from a single limit-up. The first few limit-ups gave retail investors plenty of time to rush in."

"I feel that Xu Xiang wants to clear out these profit-taking positions. Since Shancheng Beer is going to go up, it has to shake out the initial profit-taking positions and let new retail investors come in to reset their profit expectations. Let's wait for the 'Serious Abnormal Stock Trading Announcement'. If it is good news, the other party will probably take the opportunity to sell off their shares and then make a second wave trend in the future. If it is bad news, then today is most likely a shakeout."

Because it involves profit-taking, a pullback is necessary to avoid a market sell-off.

Retail investors who have profited from eight consecutive days of limit-up trading are extremely vulnerable; any slight disturbance can trigger them to sell off their holdings.

The situation is different for retail investors who profit from the first, second, and third consecutive limit-up days. They are less eager to cash in their profits, and these retail investors are often able to hold on and become the main force behind the buying.

After a brief analysis, Zhang Yang opened the Joker Speculative Capital Channel to remind all retail investors who were panicking due to the market decline.

The Bank of Japan's interest rate decision had a limited impact on China, and the outcome was in line with market expectations. my country's macroeconomic data for August showed a collective rebound. Furthermore, the G20 finance ministers' meeting mentioned that countries pledged to maintain policy continuity and avoid prematurely withdrawing stimulus measures in the early stages of economic recovery. Therefore, I personally predict that Japan will not rashly withdraw from its monetary easing policy.
"despair--"

Click the mouse to post.

In just a moment, the number of views exceeded a thousand, and the number of views was rapidly increasing at a rate of a thousand per second.

Since acquiring Baidu Finance and replacing it in Baidu's promotional channels, Caiyan.com's daily active users have increased dramatically, with daily active users exceeding 50, making it a top-tier financial website.

After browsing Zhang Yang's post, many retail investors felt as if they had found their way in a maze, and they bought back the stocks they had just sold, expressing their deepest gratitude to Zhang Yang.

[Sound of Dreams]: Thanks to the great Joker for showing up and clearing up the confusion. That damn notebook, I was almost fooled by it!

[Life is full of regrets]: Joker is absolutely right. I just checked the contents of the G20 Finance Ministers' Meeting, and it did mention that countries pledged to maintain policy continuity in the early stages of economic recovery and avoid prematurely withdrawing stimulus measures. Joker is awesome!
[Captain Jack]: We retail investors are too out of touch with information. A little bit of news in the market can throw us into a panic. If only I knew English, I could bypass the Great Firewall and browse the foreign internet to get first-hand information.

[Dreaming about her]: It's not that retail investors are uninformed, but that you don't have the habit of collecting news. If Joker is not mistaken, he must have the habit of collecting market information, which is why he was able to analyze from the details so quickly that Japan is unlikely to withdraw from the ranks of countries with loose monetary policies.

Just as retail investors speculated, Zhang Yang does indeed have a habit of collecting information and organizing it into investment documents.

For example, at today's Bank of Japan policy meeting, no matter how cautious the Japanese Finance Minister was, he did not believe that Japan would dare to be the first to tighten its loose monetary policy.

It's important to understand that the subprime crisis was caused by the United States, and now the US economy is in a critical phase of recovery. Japan wouldn't dare to cause any trouble.

……

While Zhang Yang's posts were being frantically viewed by retail investors, Hu Xi, dressed simply in a red polo shirt and washed jeans, maintained his view that as long as the A-share market fell below 3000 points, he would dare to buy.

Perhaps there really is a protection period for novice stock traders. Just as Hu Xijin added another 1 yuan to his position, the Shanghai Composite Index experienced a V-shaped reversal.

[Stock Anomaly Alert]: Huaguo Shenhua saw a super buy order, amounting to 1000 million.

[Stock Anomaly Alert]: A super buy order of 900 million yuan appeared for Yangtze Power.

[Stock Anomaly Alert]: A super buy order of 2000 million yuan appeared for Guizhou Moutai.

2972 points.

2991 points.

3000 points.

Although the banking sector is still underwater, other index-weighted sectors have already risen, with leading stocks leading the charge.

The phenomenon of many banks being idle during a bull market is vividly demonstrated at this moment.

Jiang Minjun, who had been in continuous contact with Hu Xijin, was completely bewildered. She could no longer tell whether Hu Xijin was genuinely bad at stock trading or just pretending, as he always seemed to be able to accurately buy at the points when the market was about to reverse.

With this question in mind, she tentatively asked, "I have a question for Editor-in-Chief Hu."

"You said."

Hu Xijin was in a good mood as he looked at his account showing a profit.

"Is this really your first time trading stocks?" Jiang Minjun was already starting to doubt herself; she really thought Hu Xijin was playing dumb to fool others.

"I opened my account a week ago, I'm a genuine new stock investor, no doubt about it!"

Hu Xijin seemed to have guessed something and shared, "I've emphasized this many times: below 3000 points, there's gold everywhere. As long as it dares to fall, I dare to buy without hesitation!!"

Countless netizens watching the live stream were completely bewildered.

Like Jiang Minjun, they were genuinely unsure whether Hu Xijin was faking it or was truly a naive young man.

If you're talking about a hothead?
Every time I add to my position, the A-share market reverses. Is there really such a coincidence in the world?

But if you're not a hothead...

Hu Xijin is too cunning; he actually dared to say something outrageous like "If you don't sell, how will you cut your losses?" to mislead retail investors.

While Hu Xijin profited again and cleared out his Shancheng Beer inventory, Li Daxiao was on the other side shouting his "pulling the bull" slogan.

Li Daxiao, beaming with confidence, passionately declared: "The battle at 3000 points is fierce, comrades! The market seems to be struggling around this level. Many may be pessimistic, many may be skeptical, but I can already smell the bullish momentum. Come on, comrades, let's help this bullish market break through its constraints and soar to the stars!"

Chow Yun-fat, the brand ambassador for Tonghuashun, is no pushover either. Perhaps due to his lack of understanding of the stock market, he frequently uses the phrase "all in."

Did it fail to hold the 3000-point mark?

Stud!

Has the 3000-point mark been held?

Stud!

Is the 3000-point level fluctuating repeatedly?

Stud!

Chow Yun-fat's "All-in" poker game, inspired by the character of the "God of Gamblers," has gone viral, drawing countless stock market investors to the Tonghuashun website to watch his "All-in" game.

The emergence of four "unparalleled geniuses"—Joker from Caiyan.com, Li Daxiao from Eastmoney.com, Zhou Runfa from Tonghuashun.com, and Hu Xijin from Sina Finance—has caused a continuous decline in traffic to financial websites such as Tencent Finance, NetEase Finance, Securities Star, and Gutianxia.

Eastmoney, Tonghuashun, and Sina Finance also seized the hard-won opportunity and have been recruiting aggressively during this period. Eastmoney, in particular, has hired more than 40 new employees, most of whom are market analysts.

……

At 3 p.m., the Shanghai Composite Index closed at 2999.71 points, a drop of 1.12%, with a trading volume of 1687 billion yuan. The Shenzhen Component Index closed at 12294.88 points, a drop of 1.15%, with a trading volume of 938 billion yuan.

It's clear from the decline that on September 16th, index-weighted stocks led the fall, while small and mid-cap stocks showed relative resilience.

However, it's worth noting that the Shenzhen Component Index's relatively small decline was mainly due to the positive impact of the curative hepatitis B vaccine concept. Many upstream and downstream companies, as well as companies in the medical and pharmaceutical sectors, followed suit with gains.

"Market closed! Time to go home!" Lin Guangchang stretched.

Liao Guopei, standing next to Zhang Yang, gestured and said, "Joker, I've sent you the transaction statement. The amount of shares accumulated today is not bad. I hope our judgment was correct."

"Okay, I'll take care of it."

Zhang Yang nodded.

"Thanks for your hard work, Joker. Here's a cup of coffee for you before you go."

After saying that, Lin Guangchang was about to tinker with his coffee machine.

"Thanks."

Zhang Yang did not refuse.

Ever since Lin Guangchang brought a coffee machine to the finance conference room, they have achieved coffee freedom and can have a couple of cups whenever they have a spare moment.

Lin Guangchang: "Haha, we're brothers."

"You guys drink, I just made an appointment with a black girl, I have to go now." Liao Guopei hurriedly left the meeting room.

For him, life should be lived to the fullest. In the few months he spent in Shanghai, he had lost count of how many foreign women he had met, including more than a dozen "black pearls".

Zhang Yang and Lin Guangchang were not surprised; both were busy with their own affairs.

“9月14号买入1400股，投入52752元，共持仓是1212.04万股，9月15号买入3200股，投入132640元，今天又买入1.7万股…”

He quickly calculated that the "Liu, Guan and Zhang gang" currently holds a total of 1214.06 million shares, with an average holding price of 24.27 yuan, and available funds of 8.774 million yuan.

Since Shancheng Beer has been hitting the daily limit for several consecutive days, and with multiple institutions and speculative funds vying for shares, even if they have seats, they simply can't acquire any shares.

"Joker, your coffee."

Lin Guangchang handed the coffee to Zhang Yang on the table.

"Thanks," Zhang Yang said.

Just as he was preparing to write his reflections for the day, a notification popped up on Huaxin Securities' website about an unusual stock price movement in Shancheng Beer. It was none other than the "Announcement of Serious Abnormal Stock Trading."

"So fast."

"What? So fast?"

Lin Guangchang was about to leave when he heard Zhang Yang whisper and turned to ask.

"Shancheng Beer has released its 'Announcement on Serious Abnormal Stock Trading'."

"So fast?"

Lin Guangchang was extremely surprised and quickly walked to Zhang Yang's side, and the two watched together.

[山城啤酒股份有限公司（以下简称“公司”或“本公司”)股票（证券简称：山城啤酒)于2009年9月7日至2009年9月16日连续8个交易日的收盘价格涨幅偏离值累计达到114.36%，根据《沪都证券交易所交易规则》的规定，连续10个交易日收盘价格涨幅偏离值累计超过100%，属于股票交易严重异常波动的情形。

As of September 16, 2009, the company's closing price was RMB 45.59 per share, with a static price-to-earnings ratio of 253.8 and a price-to-book ratio of 12.16. According to data released by Huazheng Index Co., Ltd., as of May 7, 2009, the company belonged to the "Food and Beverage" industry, with the latest average static price-to-earnings ratio of the industry at 51 and a price-to-book ratio of 3.4, which is significantly different from the company's latest price-to-earnings ratio and price-to-book ratio.

The company's main business is currently beer. In the first half of the year, sales reached 47.95 kiloliters, a year-on-year increase of 4.69%, which is lower than the average growth rate of 6% in the beer industry during the same period.

Revenue per kiloliter of liquor increased to RMB 2188, a year-on-year increase of 5.18%, with continued optimization of the product structure.

In response to market speculation, our company is the actual controlling shareholder of Shancheng Jiachen Biotechnology Co., Ltd., holding 85.1% of its shares. The synthetic peptide vaccine is currently in Phase II clinical trials. According to the results reported by the monotherapy group, the HBeAg seroconversion rate at 76 weeks was 30%, which was not statistically different from the 28.2% in the placebo group.

The synthetic peptide vaccine team is currently exploring the combination of synthetic peptide vaccines and entecavir. Further results will be available after comparing the treatment group and the placebo group.

Overheated stock prices in the secondary market may indicate irrational speculation, posing significant trading risks and a potential for sharp short-term declines. Investors are advised to be aware of these risks and avoid blindly following the crowd.
After reading the "Announcement on Serious Abnormal Stock Trading," Zhang Yang smiled and said, "Interesting. The drug alone is ineffective, so it provides an expectation of combination therapy."

"Is this a shakeout?"

Lin Guangchang inquired.

"It's basically confirmed to be a shakeout." Zhang Yang replied, while switching to information platforms such as Baidu Tieba and Weibo to wait and see.

Less than 10 minutes.

Online trolls and media outlets have begun to mislead retail investors.

"A Black Swan Event Hits Chongqing Beer! Jiachen Bio's Vaccine Development Fails; No Statistically Different Results Found Between Treatment and Placebo Groups!"

"Over a billion yuan down the drain? Chongqing Beer's synthetic peptide vaccine fails Phase II clinical trials; what will happen to its stock price after eight consecutive days of limit-up gains?"

Exposing a shocking scam! A synthetic peptide vaccine, involved in a 10-year-long investigation affecting hundreds of millions of hepatitis B patients, has been declared dead – there was no difference between the treatment group and the placebo group!

(End of this chapter)