Those Years When I Was Forced to Top the Forbes List

Chapter 230 One move to defeat the enemy!
At 5 p.m., many people kept refreshing the Shenzhen Stock Exchange's list of top traders.

Many investors are watching BOE Technology Group Co., Ltd., which hit its daily limit down today.

Since the Lunar New Year, BOE has been making headlines, with its stock price experiencing several bizarre drops. Moreover, the price fluctuations have been precisely controlled within a 6.9% range on several occasions, as if they are deliberately keeping the stock exchange's trading data from being viewed.

Today, the mystery will be unveiled for the first time.

When the stock hit its daily limit down at 3 PM, there was already a lot of speculation.

—Illegal sale by major shareholder?

Which market maker is forcibly shaking out weak hands?

Is Chen Xuebing still around?

Yes, Mr. Chen is already a well-known figure.

He is well-known, at least in the stock market, blog, and forum circles.

Initially, Chen Xuebing posted a message on Sina Blog expressing his "firm support for BOE Technology Group." The photo of 1677 million shares was screenshotted by many netizens to show off, and many people became aware of this retail investor tycoon.

Just a month or so later, news broke that Hefei-based Changzheng Capital had invested in BOE Technology Group.

There are also many photos of Chen Xuebing with provincial leaders!

An investment of 8 million!

These days, besides the evening news, how many news items can you see that exceed this number?
This guy is a big retail investor? This guy is a real big shot!

Looking at Chen Xuebing's blog photos now, netizens are surprisingly finding him somewhat approachable.

Some netizens who had interacted with Chen Xuebing on his blog felt like they knew him on TV.

He spoke to me! He even replied to my comment on his blog!
Looking back further, just a few months ago, Chen Xuebing was still discussing gossip about Yi Yeqing and Zhou Gongzi on Tieba. Everyone was among the common people, speculating about the lives of those high-ranking people. How did you suddenly end up in that position?
Even if Mr. Zhou really exists, he's probably not as rich as you, right?
How could you have the nerve to cricket?
During the period of continuous decline in BOE's stock price, many people have also thought of the bigwig who has been investing in BOE. Every day, people go to Chen Xuebing's blog to leave messages: "Big boss, how many hundreds of millions did you lose today?"
BOE Technology Group Co., Ltd. hit its daily limit down today, and of course, people left comments.

Some people are happy to see this, feeling that the rich should all be thoroughly fleeced.

Some people felt sorry that a big shot who was willing to gossip with everyone was probably now penniless, and a shining shooting star had faded away.

People with a narrow-minded mentality often believe that temporary success or failure represents permanence, especially when the parties involved remain silent: they must have given up.

Then came even more explosive news.

Shenzhen's Dragon and Tiger List released a Dragon and Tiger List at 5 o'clock sharp:

Buyer #1: Guoxin Securities Shenzhen Hongling Securities Department.

Seller #1: Guoxin Securities Shenzhen Hongling Securities Department.

Buyer #2: China Merchants Securities Shenzhen Zhenhua Road Securities Department.

Second seller: Haitong Securities Shanghai Yutian Branch Road Securities Department.

Buy three:
Seller 3: Shanghai Orient Securities Zhaojiabang Securities Department.

The buyer and seller are actually from the same company?
Left hand to right hand?

Soon, a seasoned stock market investor commented: No, no, no, this is not one company.

Guoxin Securities Shenzhen Hongling Road is where Guoxin Securities, an early securities company serving online stock investors, opened accounts for online retail investors. The name represents retail investor trading. China Merchants Securities Zhenhua Road, the second largest retail investor trading center, is another retail investor center.

Retail investors were fooled again today.

When the market hits its daily limit down, both buyers and sellers will give each other a contemptuous smile and call each other idiots.

However, there is another famous boss, Mr. Xu, who also likes to hide in the securities department on Hongling Road in Shenzhen.

If you don’t believe me, just look!

Selling at positions two, three, and four are all frequently used by Chief Xu!

The seller is none other than General Manager Xu!
Upon hearing this news, the buyer was immediately stunned: Oh no, I'm now on the opposite side of the leader.
The seller was very pleased with himself.

Then some people speculated: Don't panic, this is the Grand Master shaking out weak hands! The markets the Grand Master is involved in haven't seen a big surge yet, will it end? Is it possible that it will end just like this?
Yes, this is a shakeout!

The seller then realized it made sense and became confused, while the buyer was smug.

Everyone firmly believes in Master Xu's undefeated record: as long as you bet correctly whether Xu Xiang wants to buy or sell, you're guaranteed to win.

Although most discerning people didn't say it aloud, they subtly reached a consensus: Xu Xiang probably wouldn't leave like this.

But today, it was as if the sky had been ripped open; something extraordinary happened.

Xu Xiang's long-dormant stock forum account has surprisingly come back to life, and he's creating posts and making statements:

Please do not make any wild guesses; I am not optimistic about BOE.

The message is simple: I never recommend stocks, and I don't want retail investors to make the mistake of buying stocks because of me. This is a formal statement.

At this moment, Xu Xiang still needs to suppress the stock price, keep retail investors selling, crush Chen Xuebing, and then let him continue to accumulate shares at low prices, which is in his core interest. He does not want anyone to make wild guesses or stand on the opposite side of him.

As for the future, he doesn't need retail investors to follow him to drive up the price. He has invested heavily in this stock and plays the game of high control, so it's very easy for him to push it up.

A simple post caused the buyer's world to collapse.

There are also rational voices who think that Xu Xiang isn't doing charity work, so if he wants to sell, why should he warn everyone not to buy in?
But almost everyone is pessimistic about tomorrow's market.

Since Chief Xu has personally spoken, there will definitely be some damage before the holiday.

This sell-off will likely be followed by a long break. Will there be a technical rebound after the break?
Nobody knows how long it will take for the stock price to rise, but now is definitely not a good time to buy.

If things continue like this, tomorrow might see a unified collapse in stock prices.

At 9 p.m., blogger "Netizen Chen Xuebing" suddenly posted an article.

"I'm at BOE, bring it on."

Chen Xuebing continued his usual clickbait style, using his blog like a microblog, with a photo below the title showing Chen Xuebing shaking hands with Wang Dongsheng at the BOE groundbreaking ceremony.

There's another sentence:

"The market is like a game of chess; once a move is made, there's no going back."

It sounds like advice to Xu Xiang, and also like advice to stock market investors.

It's exploded again!
It was almost time to rest, but things still took a turn for the better!

Buyers who bought at the low prices today are now very excited.

I was just thinking about how much I'd have to cut my losses and run tomorrow, and now, a big player from the bulls has arrived!

They're shareholders, after all!
However, the shareholders have all spoken out, so why hasn't the listed company made any move?

In less than half an hour, Sina detected a surge in views and comments on Chen Xuebing's new blog post and quickly pinned it to the top of its homepage.

Some netizens who never pay attention to the stock market have gradually noticed this big news.

Bulls vs. Bears!

Wall Street, Boiler Room, The Smartest Man in the Room.
Is a plot from an American movie about to play out in the Chinese stock market?

Chen Xuebing didn't really care how the shareholders reacted.

However, he got the attention he wanted.

Market institutions are like wolves with a keen sense of smell. The recent booming real estate market has drawn their attention and funds to that sector. Chen Xuebing also made a fortune in real estate recently, and he knows that it will be difficult for funds to come out of there in the short term.

The optoelectronics sector has been lackluster for a long time, which is why Xu Xiang was able to short BOE at will. Chen Xuebing's creation of a "minor news" story that is not worthy of mainstream media attention should be able to attract some people's attention and put BOE into the next round of attention.

The following day, Chen Xuebing arrived at the company late at nine o'clock and asked Xu Jin to organize a short meeting for the traders.

"The target price is 2.15. We'll set it at that level today and not make any further moves."

How much liquid capital does Fund One currently have?

Chen Xuebing looked at Xu Jin.

"Most of those who could exit have exited! Of the 3.7 million, 1.1 million is in BOE and over 6000 million is in Oceanwide. Today is a technical low. Real estate stocks may still see some gains recently, and many people are optimistic about this leading stock. Selling now would be a bit of a loss, so I haven't made any moves yet. However, OCT has recently risen from 12 to 14 yuan, and it's unlikely to see a significant breakthrough in the short term. If I sell, and Oceanwide wants to exit, there are many people watching, so we can sell at any time."

Fund No. 1's returns this month include an increase from 270 million to 370 million.

one.

As Xu Jin spoke, he looked at the chairman with admiration.

The stocks he selected for his portfolio are truly remarkable.

Oceanwide Holdings was the first to surge, going from over two yuan before the Lunar New Year to six and seven yuan now, so I won't go into details.

It's OCT A, a master of swing trading. They bought in at 10 yuan and sold at 3 yuan before the Lunar New Year. After the Lunar New Year, when the stock price returned to 10 yuan, they bought in again and made more than 13 yuan. Later, the price rose to 13 yuan and then back to 11 yuan, so they bought in again. This time, the price rose to 14 yuan. They made several waves in a row, and their profits were close to double.

He did the math: when the market is rising, he doesn't need to do anything; he can just spread his money evenly across a basket of stocks and still outperform the market by 50%.

Previously, the chairman put the 1 million yuan dividend from Baosteel warrants that he and Liu Zengcheng received into Fund No. 1, which made them a little dissatisfied. Now, they have earned almost 80%.

Unfortunately, he's a manager, and according to regulations, he can't run his own account and trade stocks with the company. He's been to jail before, so he wouldn't dare touch that minefield again. Liu Zengcheng is at home resting now, but he's definitely not idle. He might have made a lot of money by trading stocks with the company.

However, the stocks in the basket are updated regularly, and the most valuable information is probably still in the chairman's mind.

Chen Xuebing noticed the enthusiasm in Xu Jin's eyes and smiled, "After this is over, we'll distribute bonuses as appropriate, and set up a separate employee fund account for you to manage. It will be used in conjunction with the company's allocation, with funds flowing in and out in the same proportion. As long as you are an employee of our Gu'an Group, you can invest whenever you want and withdraw your funds at any time. Consider it an employee benefit. However, the investment limit will be based on your job level, and the total funds cannot exceed 2000 million. You can set the limit."

These words excited not only Xu Jin, but also the traders.

They're envious of the company making money every day!
However, General Manager Xu and General Manager Liu have always been very strict with them. They are not allowed to bring cell phones to work, their computers are checked regularly, and if they are caught trading stocks in private, they will not only be fired, but also sued for infringing on the company's interests.

"What about Fund No. 2?" Chen Xuebing then asked.

"Ah, the same goes for Fund No. 2! 213 million came out, and Oceanwide has 17 million in it."

Fund No. 2 ultimately raised 203 million yuan in early April, but Mr. Wu of Southwest Securities ultimately failed to reach his goal of 100 million yuan.

But now the total amount has reached 230 million, earning 15%.

"That Southwest Securities investment made over 5000 million, right?" "Yes, over 5300 million. All 2.53 million in funds have been withdrawn and are ready to be deployed."

Yufu Borrowing, with its 3 million yuan investment in Southwest Securities, entered the market relatively early, on March 20th, just as a small peak was beginning, making a fortune. If it weren't for the need to exit in order to cope with this major battle, it would probably be close to 6000 million yuan by now.

Fund No. 1 has 370 million yuan in assets and recently earned 100 million yuan. After the last dividend distribution and exit, Changzheng Capital's total share is close to 47%, or 1.73 million yuan.

Fund No. 2 had 230 million yuan and earned 28 million yuan. Changzheng Capital had no underlying capital and its profit accounted for 40%, or 16 million yuan.

With a total capital of 8.53 million yuan, working capital of 6.66 million yuan, and more than 7000 million shares available for immediate sale, Chen Xuebing has the confidence to back up his business.

Xu Xiang never dreamed that Chen Xuebing, with a fund of 300 million yuan, distributed 30 million yuan in dividends and bought more than 100 million yuan worth of BOE shares, and still managed to come up with 740 million yuan in funds!

Meanwhile, in Shanghai.

"They only raised a fund of 200 million, right? At most 400 million! I can beat them all by myself!"

"Does he really think that having a securities company to cover for him means the secret will be airtight? Registering a fund requires approval from the China Securities Regulatory Commission!"

"Old Dai, OCT has made you quite a bit of money lately, so don't worry about a small loss, right? The stock I sold yesterday was already at a very low price! It'll definitely rebound! You won't lose money if you take over those 100 million shares! I still have 220 million shares. I'll sell 20 million first to create a big bearish candlestick. If there's still no movement, we'll hit his margin call line tomorrow, 2.12! Hehe, trying to buy my stock at a low price, we'll just give him a penny!"

Xu Xiang sneered into the phone.

A slightly worried voice came from the other end: "I currently have 130 million shares, you have 220 million, and that kid has 40 to 50 million, right? That's a total of 630 million shares in circulation. The three of us have drained nearly two-thirds of the market liquidity. If you piss him off and he swallows 400 million of our shares in one go and refuses to sell, how many shares will be left for us to sell? Even if we push the price up, we won't make much money. Be careful with your spending and just force him to surrender."

After this period of time, Xu Xiang gradually calmed down and began to return to a market-oriented mindset.

“I know, so we have to force him to liquidate his position. Only the investors I arranged can join forces with others to pressure him at the securities company. We need to control whether or not the 800 million will be liquidated so that he will obey. A liquidation auction would result in a loss of at least 200 million, which he can't afford. Moreover, I heard that he also signed an agreement with BOE to raise BOE's stock price to six yuan within six months and wants a seat on BOE's board of directors.”

Xu Xiang couldn't help but laugh as he spoke: "They also asked for three more seats."

Those on the other side laughed upon hearing this.

"Wow, a small person trying to run a big company. A stock speculator actually thinks he can manage a listed company."

Xu Xiang's face fell.

At this moment, I actually felt a certain empathy with Dai Zhikang at that time, and cursed him in my heart: He has no emotional intelligence at all!

9 points.

Xu Jin tapped his fingers incessantly on the table.

"Chairman, shouldn't we be placing so many orders now? He can see five price levels below the current level. What if he sees so many orders for 2.15 and then backs out?"

"Only two hundred million, not much. I'm afraid he'll crash the market as soon as it opens." Chen Xuebing leaned against the large round table with his hands in his pockets. "Old Lu has been under a lot of pressure these past two days due to a lot of questioning from investors. Let's not add to his troubles. It can't hit the daily limit down today."

Besides that, there's something he hasn't mentioned yet.

There is no margin requirement for investing in BOE's TMT funds.

Logically speaking, with 8 million in funds, a 15% margin should amount to 1.2 million. Where did he get the money recently?

Loans cannot be used as collateral.

He decided to simply skip the margin deposit altogether, figuring that as long as BOE's stock price rose, the profits would be the margin deposit.
Mr. Wu was one of his "own people" and helped him suppress the matter, which was one of the important reasons why he switched brokerages and third parties.

Once investors come to his door demanding to check his accounts, he has to quickly withdraw money from the stock market and transfer it to Southwest Securities.

“I don’t think we need to be so cautious. He won’t dump the stock at the opening.” Xu Jin analyzed with his arms crossed: “Yesterday’s news was mixed. If he dumps the stock during the pre-market session, some shareholders will buy it for him. If I were him, I would let the shareholders in the market have their own opinions for a while before he makes his move to drive the stock price down. That would be a real breakthrough.”

"Not necessarily, this person is quite vengeful."

"Want to take a gamble?" Xu Jin smiled.

"Okay."

The market opens at 9:30.

The two stared at each other.

Red plate, 1.7%.

"Chairman, your popularity is amazing! You've surpassed Xu Xiang!" Xu Jin exclaimed.

Neither side made a move, and the stock was up 1.7 points, meaning that most investors still believe BOE Technology will rise.

They chose Mr. Chen's side.

Chen Xuebing felt a little pleased.

However, after thinking about it, he still said objectively: "It's because those who have held on until now are all trapped investors. They naturally don't want to sell when they see hope. Others are probably trying to buy in at low prices."

"I'm afraid we'll end up halfway up the mountain," Xu Jin sighed, shaking his head.

"Hehe." Chen Xuebing chuckled and was about to speak.

Less than three minutes after the market opened, a large bearish candlestick appeared and the price plummeted.

"Damn it!" Xu Jin cursed, "Aren't you going to wait anymore? Getting impatient?"

Chen Xuebing looked at the rapidly declining bearish candlestick and still laughed: "Chief Xu's influence is waning. He's really in a hurry this time and wants to prove himself. He's made a call and asked Southwest Securities to place an order."

Xu Jin immediately got up and made a phone call.

"Place orders in batches, and try not to let the funds accumulating more than 220 million yuan." Chen Xuebing added.

2.2 million, another figure.

Based on BOE's total share capital of 28.5 billion shares, 1.425 million shares would exceed the 5% threshold for disclosure, requiring a disclosure to the Shenzhen Stock Exchange to become a formal shareholder.

They already have 4000 million shares in their account, and they are just 1.025 million yuan short. If they buy them at a price of 2.15 yuan, it will be a little over 2.2 million yuan.

Chen Xuebing is already a formal shareholder, so the 5% share acquisition will result in this share being subject to a one-year lock-up period.

Of course, since their two funds are two separate accounts, there is no immediate restriction on the sale of shares even if they are acquired separately. However, there is a risk of being investigated by the China Securities Regulatory Commission (CSRC) afterward.

Two funds under the same company will definitely be judged as acting in concert.

However, the risk of the money from Southwest Securities is very small, because the money belongs to Yufu Capital, and the shares purchased also belong to them.

That sum of money is only 2.53 million, so it can't buy more than 1.4 million shares.

In other words, Chen Xuebing can buy a maximum of 2.2 million + 2.53 million = 4.53 million yuan today. He can buy more, but there is a risk of being investigated when he sells.

However, the opposing side was very aggressive, and it only took a little over a minute to reach 2.15 before stopping when they received a 200 million buy order, instantly consuming more than 80 million of Changzheng Capital's funds.

Many small sales trays can already be seen from the back end.

Mud and sand were all carried away.

Some steadfast investors finally lost their nerve and began to withdraw in large numbers.

Fortunately, the traders at Southwest Securities reacted quickly, placing another 8000 million yuan order, restoring the buy order volume to 2.15 million yuan.

The hesitation on the other side lasted only a minute before they started selling off again, depleting the funds of Changzheng Capital.

1.5 billion.

1.8 billion.

In just five minutes, the turnover rate skyrocketed!
In that instant, even the A-share market, with a total transaction volume of less than 40 billion, experienced a slight fluctuation.

BOE Technology Group Co., Ltd. (BOE) quickly appeared on the list of large transactions in major stock market software development platforms.

Many stock investors were stunned.

The public sentiment has reached an exaggerated level; the back row of sell orders are all for 9999 lots!
One lot is 100 shares! 9999 lots is 100 million shares!

Has the sky fallen?

Was there an earthquake near BOE?

Some organizations that have developed their own backend monitoring software have also noticed the unusual financial activity at BOE.

If this were a live stream, the number of viewers would already be over 10.

Chen Xuebing's gaze remained calm.

Chen Xuebing finally took out his phone when the three funds of Changzheng had bought a total of 300 million yuan worth of stocks.

"Chairman He, we've eaten our fill. Now it's up to you."

After the call ended, at 2.15 yuan, which is -9.4%, the remaining order amount was less than 100 million yuan.

If it drops another cent, it will hit the daily limit down.

The transaction details show that there are only a few thousand lots of pending orders below, and the number is still decreasing. Many investors who wanted to buy at the limit-down price are retreating in droves, fearing that they will be trapped and unable to get out.

Master Xu is terrifyingly powerful!
But just when the funds in the order book on February 2.15th were down to only 5000 million, there was a sudden movement below.

one million!

Two million!
three million!
Three million...seven hundred thousand!

A chorus of "Holy crap!" echoed across the country simultaneously.

3.7 million lots of buy orders! 370 million shares!

8 million!!
Has the government's bailout funds arrived?

The order book at 2.15 yuan has remained at over 5000 million yuan, which is equivalent to 25 lots of buy orders.

It's quiet now.

Chen Xuebing watched as the frozen chart suddenly jumped upwards, the stock price returned to 2.16, and investors began to place orders.

A smile gradually spread across his face.

Defeat the enemy with one move.

(End of this chapter)