Chapter 932 - Cao Xu Missing! (1/2)

Everyone in the room was busy at work, carrying out the prep work for the early stages of the hostile takeover of the Century Financial Group. They would be holed up here for the next 5 to 10 days, with at least 20 people watching the computer screens at all times. There was even a special catering service hired.

Everyone was both nervous and excited. Each action they took caused major ripples in the outside world.

Nie Yan and his parents sat down on chairs off in a corner.

There were representatives of several dozens of companies, with three in particular attracting the most attention: the Glory Financial Group’s Xie Family, the Dragonsoar Financial Group’s Liu Family, and World Bloc’s Nie Family. The first two were long-established names while World Bloc was undoubtedly a powerful up-and-coming player in the industry. The heir was the guild leader of Asskickers United in Conviction, an inner member of Heavenly Kings, and someone Mo Yuntian paid close attention to. All these identities created a dazzling halo around him. There was one other matter that left everyone especially shocked, the engagement between Nie Yan and Xie Yao. The Nie Family only had one son. All the family’s assets would go to him. Once Nie Yan married Xie Yao, he would control 100% of World Bloc, 12% of the Dragonsoar Financial Group, and 28% of the Glory Financial Group. That was, assuming the current situation wouldn’t change. When the current higher-ups of the Glory and Dragonsoar Financial Groups handed over their power to Xie Yao, Nie Yan’s power would be even greater. If this attempt at a forceful takeover of the Century Financial Group succeeded, one could hardly imagine what the future would look like for him. They felt like they were witnessing the rise of a major global superpower under the leadership of Nie Yan.

The representatives approached the Nie Family, wanting to strike up a good relationship with Nie Yan. He in turn stood up and politely greeted them. It was better to make a friend than an enemy. He naturally wouldn’t push them away.

Xie Jun was the head of this operation. He put on a solemn expression and supervised the work. His usually calm and amiable demeanor was nowhere to be found. Right now, he gave off the air of a leader.

It was about time to get this operation underway. The room gradually settled down. Everyone became deathly quiet, especially the people in front of the computers. All of them were staring fixedly at the many screens. After going through five capital market reforms over several hundred years, in the process becoming one of the most important capital markets in the world, China’s stock market introduced a short selling mechanism.

“How are the preparations going?” Xie Jun asked.

“Everything is ready.”

Xie Jun turned to the higher ups of the Glory and Dragonsoar Financial Groups and asked, “Are the three large shareholders willing to take action?”

“They didn’t give us a straight answer. They are opportunists. Once the situation looks bad for the Century Financial Group, they’ll pounce on them like a pack of starved wolves. However, if Cao Xu manages to survive this, convincing them to help us will be a little harder,” an old man in casual clothing replied. Even though he was a bit thin and short, he still appeared hale and hearty. Everyone here knew him. He was the legendary Liu Hongze, the leader of the Dragonsoar Financial Group and Xie Yao’s maternal grandfather.

“Start the operation. Release the information online! Start short selling the shares in 10 minutes!” Xie Jun said heavily. He passed down the order. Even though he only spoke a few simple lines, everyone in the room held their breaths.

It was finally starting! A huge stir was about to overtake the world!

The various large economic news sites started reporting on the Century Financial Group’s financial scandal, how the higher-ups were corrupt and reporting false quarterly figures. If these claims were false, it would be considered slander, and Xie Jun and the others would be liable for defamation. However, if it were true, the consequences would be unimaginable!

The government watchdog agency announced almost immediately that they had started carrying out an investigation on the Century Financial Group. Naturally, this was orchestrated by the Glory Financial Group, Dragonsoar Financial Group, and World Bloc, or else they wouldn’t be so quick to act.

Apart from the investigation, various other information that painted the Century Financial Group in a negative light was also leaked out, such as how they were predicted to suffer an 80% decline in sales in the fourth quarter with a deficit of ¥1.7 billion. The Century Financial Group had completely withdrawn from the virtual reality industry, which accounted for nearly 35% of their total revenue. All of it was gone. The investment couldn’t be recouped.

All this news triggered a mass panic in the market. Plus, with the Century Financial Group’s shares being intentionally short sold, their stock price was plummeting.

The Century Financial Group’s shares dropped by 12% within minutes. As they tried to invest money back to prevent the drop, it would be immediately swallowed up.

After all, with several large financial groups working together, as soon as they took action, any sort of resistance would be futile. Cao Xu originally had an enormous amount of cash on hand. However, after failing to recoup his investment in Conviction, he was running short. To make matters worse, over the past year to keep investing in Conviction, in hopes of winning the war against Asskickers United, he’d even resorted to selling some of his shares. The controlling stake he had in the Century Financial Group had dropped to 30% by now, reaching a dangerous level.

The Century Financial Group’s net worth was over ¥500 billion, a drop of 12% in share prices meant a loss of ¥60 billion.

This was a frightening disaster! And it was only beginning!

...

The Century Tower. Tonight it was brightly lit. This 600-meter tall building, built several decades ago, towered over the eastern part of Huadong. The once unimaginably grand building appeared a bit aged and worn.

At the top floor, there were people rushing everywhere, similar to the situation at the Rekod Grand Tower.

Cao Xu sat in his office chair with his eyes closed. His former vigorous self now appeared desolate.