I'm back in 1990

Chapter 426: Removal

The stock of Zhaoyifeng Group suddenly fell for several days in a row, and there were also rumors that Zhaoyifeng Group's debt was as high as 91, almost reaching the point of insolvency. However, insiders know that the accounts are not calculated that way. Once it goes bankrupt and is liquidated, Zhaoyifeng's assets will be discounted, or even severely reduced.

"Fu Wen, quickly find out who is spreading rumors outside, and also notify the shareholders to come to the company immediately for a shareholders' meeting."

Fang Jiagan, chairman of Zhaoyifeng Group, had experienced many financial crises and was quite experienced in this area. He keenly sensed that someone was trying to short Zhaoyifeng's stock.

"Okay, I'll get right on it!"

Fu Wen was starting to panic. The sharp drop in Zhaoyifeng's stock price meant that his net worth had also shrunk considerably.

At that very moment, Ding Yi had already invested a large amount of money in the Hong Kong Stock Exchange to short the stock of Zhaoyifeng Group.

As the rumors intensified, retail investors and institutions alike saw Zhaoyifeng's stock price plummet as if it had taken a laxative, and panicked, selling off their shares at a loss.

In just one morning, Zhaoyifeng's stock price dropped by 33. Some experts predict that by the afternoon closing, Zhaoyifeng's stock price may drop by 50. That's terrifying! It means that if you haven't sold by the afternoon closing, your assets will shrink by half.

Ding Yi was busy shorting Zhaoyifeng, while Zhang Sui was waiting for the right opportunity. When Zhaoyifeng's stock price hit rock bottom, that would be her time to make her move.

That's right, Huang Xiaochuan is aiming to take control of Zhaoyifeng Group and remove Fang Jiagan from his position as chairman of Zhaoyifeng Group.

Ding Yi was responsible for exhausting the bailout funds of Zhaoyifeng, while Zhang Sui was responsible for acquiring Zhaoyifeng's shares from the secondary market and Zhaoyifeng's shareholders. Huang Xiaochuan had discussed this with Ding Yi beforehand, and Ding Yi suggested that Huang Xiaochuan acquire 69% of Zhaoyifeng's shares. After gaining control, he would then raise the share price and gradually sell off a portion of the shares to make up for the losses from this acquisition of Zhaoyifeng.

In the afternoon, Zhaoyifeng held a shareholders' meeting and reached a special resolution to repurchase the company's shares in order to boost the share price. However, this resolution still needs to be approved by the relevant regulatory authorities before it can be implemented.

After the resolution was reached, Fang Jiagan made a few phone calls, and then Fu Wen immediately went to the relevant departments for approval.

However, the timing is clearly unfavorable for Zhaoyifeng.

Fang Jiagan did have some connections, and through his efforts, he obtained some information and learned that the person who maliciously shorted Zhaoyifeng's stock was Ding Yi.

Soon, a call came into Ding Yi's cell phone.

"Young friend Ding, I am Fang Jiagan of Zhaoyifeng. I wonder if you would do me the honor of inviting me to dinner tonight?"

"Eating? No need for eating. Are we that close? Alright, I'm not going to waste my breath on you. I'm very busy."

Ding Yi didn't even bother to say goodbye to Fang Jiagan and hung up the phone directly.

Fang Jiagan, who had been in the business world for over thirty years, had never been humiliated like this before. He was so angry that he trembled all over. Fang Jiagan was known for his good manners, but today he was really angered by Ding Yi.

That very evening, Zhang Sui hosted a dinner for Zhong Gaoyuan, the second-largest shareholder of Zhaoyifeng.

After exchanging a few pleasantries, Zhang Sui got straight to the point.

"Mr. Chung, let's be frank. I want to buy all of your shares in Mega Fortune! I'll give you a fair price: HK$755, how about that?"

Zhong Gaoyuan shook his head: "Miss Zhang, I don't know what you're trying to do? But I've had a very good relationship with Lao Fang for so many years. I advise you to stop! We can offer you some benefits so you won't leave empty-handed. What do you say?"

Zhang Sui's gaze was firm as she quoted another price: "HKD 81!"

Zhong Gaoyuan shook his head again.

"9 Hong Kong dollars!"

"HK$11, this is the final offer. Either sell, or we'll kick you out after we take over Mega International Development. You should know that many people want to sell to us. HK$11 without you won't have much of an impact on us."

Zhong Gaoyuan glared angrily at Zhang Sui, who retaliated with a sharp retort.

After a while, Zhang Sui broke the silence: "Li Duo, give me the account information."

After receiving the bank account information, Zhang Sui tossed it in front of Zhong Gaoyuan.

"Mr. Chung, this is just a part of it, an appetizer. The main course is yet to come. Selling your shares to us now is the wisest choice for you."

Zhong Gaoyuan glanced at the account information and was startled by the enormous amount of funds on it. This money was only a part of the funds needed to acquire Zhaoyifeng. These funds mainly came from the United States and were raised by Zhang Yun.

Zhong Gaoyuan remained silent for a moment, then sighed, "Alright! As you wish." (The latest chapter is about to explode with plot developments! Follow for more updates.)

Zhang Sui smiled and said, "Chairman Zhong, please!"

However, Zhong Gaoyuan still informed Fang Jiagan about this matter.

Fang Jiagan was so angry that he immediately smashed the phone. His secretary witnessed the whole scene and was stunned. It was the first time he had ever seen Fang Jiagan so furious.

Rumors continued to circulate among investors, and the stock of Zhaoyifeng continued to plummet the next day, which was entirely expected.

Zhao Yifeng planned to borrow money from the bank to repurchase shares, but the bank refused to lend. However, Fang Jiagan still managed to repurchase some shares, but his funds were quickly depleted by Ding Yi. As the stock price plummeted, Fang Jiagan was at his wit's end.

Three days later, Dadao Group officially announced that it had acquired 33% of the shares of Zhaoyifeng Group.

Fang Jiagan personally went to see Cao Charlie, but Cao Charlie refused to see him. Instead, he had his assistant tell him to stand properly when he was beaten and to learn from this experience so that he would not offend people he shouldn't have.

Fang Jiagan racked his brains but couldn't figure out who he had offended.

Seeing that the other party was determined to fight to the death, Fang Jiagan went directly to the China Securities Regulatory Commission to file a complaint.

The China Securities Regulatory Commission (CSRC) stated that the acquisition was legal and all actions were within the legal framework, and that they had not violated any laws. They could not help Fang Jiagan with his appeal.

When Fang Jiagan came out of the China Securities Regulatory Commission, his face was ashen.

All struggles are futile in the face of absolute power. A week later, Cao Charlie appeared at Zhaoyifeng Group, following behind Zeng Jiahua. They were there to take over the company. They now hold 66% of Zhaoyifeng's shares and have absolute control.

Zeng Jiahua was sent to Hong Kong by his nephew in a daze. Huang Xiaochuan didn't tell him what it was about at all, just said that he would know when he got to Hong Kong.

Upon arriving in Hong Kong, Zeng Jiahua was treated like an emperor emeritus. Charlie Cho personally went to the airport to greet him and treated him to a lavish meal. That evening, he took Zeng Jiahua to Huang Xiaochuan's mansion in Mid-Levels.

The next day, Zeng Jiahua learned that his nephew had acquired a group company and appointed him as the chairman of the board, but he was not responsible for any specific affairs. He was a typical case of taking the money but not doing any work, with the general manager handling all the tasks.

After gaining absolute control, in accordance with relevant laws, Dadao Group will propose to convene a board meeting to remove Fang Jiagan from the position of Group Chairman, and will also propose to increase capital and expand shares, clearly intending to continue to dilute Fang Jiagan's shares.

When Fu Wen met Zeng Jiahua, he understood everything completely. Moreover, Cao Charlie of Dadao Group only dared to walk behind Zeng Jiahua, and his attitude was very humble, which made Fu Wen very confused.

Fu Wen whispered a few words in Fang Jiagan's ear.

Upon hearing this, Fang Jiagan stared intently at Zeng Jiahua. So that's how it is!

Is this the legendary "pretending to be weak to eat the strong"?

Seeing Fang Jiagan still sitting in the chairman's seat, Cao Charlie snapped, "Fang Jiagan, is that your place? Get up right now!"

Fang Jiagan's face turned ashen.

Seeing that Fang Jiagan had no intention of standing up, Cao Charlie directly proposed: "Now, let's vote by raising hands to remove Fang Jiagan from his position as chairman of the group. Those who agree, please raise your hands."

After saying that, Charlie Cao raised his hand.

"The vote has passed with a majority vote!"

Immediately afterwards, Charlie Cao called out to the security guards: "Security guards, quickly move that old man, chair and all, to the side."

The security guards of Zhaoyifeng Group knew that the company had changed hands and that the person speaking was a representative of the new boss. To protect their jobs, the four guards carried Fang Jiagan, chair and all, to a corner of the conference room without saying a word.

Then, Charlie Cao personally moved a chair to the previous spot and carefully helped Zeng Jiahua sit down.

This was Zeng Jiahua's first time attending such an event, and he was a little shy and not quite relaxed.

After Zeng Jiahua sat down, Cao Charlie did not take a seat but stood beside him and continued, "The second resolution of the meeting is that we propose Mr. Zeng Jiahua to serve as the chairman of Zhaoyifeng Group. Those who agree, please raise your hands."

As soon as Charlie Cao finished speaking, he raised his hand.

"With a majority vote, the resolution is in effect!"

"The third item on the agenda is, for the company's development, a decision has been made to increase the company's capital through a share issuance. Those who agree, please raise your hands!"

After saying that, he raised his hand again!

"The resolution is in effect!"

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