Wang Yue is not so much a market manipulator as a market pit.
In April 2015, when the news of Keying’s backdoor listing came out, the market value of Keying’s backdoor listing quadrupled in just one month, rising from 2.5 billion to 10 billion. After the end of 2015, the market value of Keying’s network soon surpassed 40 billion.
This price is so high that the management feels that it is foolish to remain unchanged, but after the transaction, the stock has not been lifted, so they can only watch the stock price drool.
On the one hand, it holds billions of shares which can not be realized in the short term, on the other hand, it can only get hundreds of thousands of dead wages, and it also needs loans to buy a house.
Clearly, they have all entered the rich list. They are free of proper finance, but they can’t spend money freely. Who can bear it?
As a result, shortly after backdoor listing, management began to pledge large-scale equity.
Now I can’t sell stocks, so I will use equity as a mortgage loan, and wait for the ban to be lifted before returning it.
And Wang Yue is not floating, mortgage almost 37% of the equity, and then set the pledge rate to about 30%, the actual amount of loans will be 10% – 15% of his family, worth 8 billion, the loan of 1 billion is also reserved for a very high security cushion is it.
Then buy, buy, buy villas, private planes, as successful people, venture funds also have to do, project investment, and then lend some to friends and relatives, the money will soon be spent almost.
Unfortunately, after Kay Ying’s bad network years, its performance was blown down by securities firms and failed to meet market expectations. The stock price fell all the way. By the beginning of 2017, its market value had been cut down, and it was close to the flat price of the original pledge. At this time, after continuous supplementary pledge, Wang Yue’s share pledge ratio had increased from 37% to 62%.
In June 2017, the company purchased three Internet financial companies and began to engage in the then flourishing small loan business. I remember that it was not long before the small loan industry became half-dead because of the tightening of national policies.
Fortunately, the stock market has also recovered as a whole, driving the company’s market value back to the safety line of 30 billion yuan.
2018 is the nightmare of the whole game industry. Of course, Kay Ying can’t escape. The version number can’t be issued. The result of the game’s failure to go public is that the performance has dropped sharply, driving the stock price down all the way.
In March 2018, Kaiying began to involve in the block chain project, and his eagerness to raise the stock price was obvious.
In April 2018, Kaiying’s market value returned to 20 billion yuan. By this time, Wang Yue had panicked and borrowed money everywhere to manage the market value.
As a result, we encountered a bear market in the second half of the year. This hole can not be completely filled. As a result, the market value reached 10 billion yuan. That is, we still owe hundreds of millions of dollars if we can’t get back our equity.
When the money is really gone, he is suspected of manipulating the securities market.
Originally seemingly safe equity pledge, but it makes Wang Yue’s wealth zero. In addition to the adverse years of the industry and the company’s own business problems, the biggest reason is that the market was fooling him, thinking that his company is really so valuable.