What's wrong with me being a rich man?

Chapter 610 Holding up President Yu as a torch (5k)

Yu Xing has already accepted the exposure of Shan Feng's identity.

Although its exposure was so sudden, with one moment they were saying goodbye to colleagues attending the Internet conference and the next they were being exposed by early clues and their own technology, which solidified their reputation as the king of short sellers, but... let everything happen.

Yu Xing was talking to Liu Wanying, who was still in Hong Kong, when he was reminded that what's done is done, and it can't be forbidden.

However, regardless of the circumstances, at least psychologically, the shock has been digested, and the focus has shifted to how to proceed. Overcoming adversity requires defending oneself, and subsequent legal proceedings and potential settlement funds also need to be considered.

But then again, digestion is one thing, but it can't go on forever.

An insider revealed that an A-share listed company was committing fraud on the Baixiaosheng Forum, a website owned by the "King of Short Sellers," whose identity has just been exposed.

This kind of thing happening at this critical juncture is practically a copycat crime!
This is clearly not Guo Shanfeng shorting the market, but it's as if Guo Shanfeng himself is shorting it!

Since Yu Xing relinquished control of Baixiaosheng's business, similar situations have occurred on the forum in the past, but this time the timing and impact are clearly different. Bi Sheng discovered it on Douyin, which in turn reposted it from Baixiaosheng...

A quick check revealed that several major portal websites had indeed published similar reports, and had even indicated the sources of the information.

Yu Xing then looked at the original post on the Baixiaosheng Forum, which was already extremely lively.

"We didn't know Dr. Yu was a mountain climber before, so we could only let him charge forward on his own. Now that we know Dr. Yu is a mountain climber, we must charge forward with him!"

"Deception will endure forever, let's use President Yu as a torch!"

"Charge forward with the king of short sellers in tow!"

Yu Xing knew that many people's replies were jokes or just for fun, but he was really being carried away this time, and... outsiders didn't care, but insiders would take it seriously.

He took out his phone, found the number of Liu Hao, the president of Baixiaosheng, and called to inquire about the situation.

"Mr. Yu, we have preliminarily reviewed the authenticity of the materials." Liu Hao also said with some helplessness, "That's how the forum works. It hasn't changed. They confirm that it will be published on our platform first. If it doesn't pass, they will look for other platforms, such as Douyin... His materials are fine, and they have also been sent to the China Securities Regulatory Commission."

"I tried calling you but couldn't get through, so I sent you a brief summary via text message."

"Mr. Yu, what should we do about this?"

Yu Xing's phone was overflowing with messages, and he hadn't noticed the one from Liu Hao. He was also busy with meetings all afternoon. He pondered for a moment and said, "There's nothing we can do now, it's already spread."

Liu Hao hummed in agreement, then asked, "What if a similar situation occurs again recently?"

After thinking it over, Yu Xing said, "There are so many social media platforms now. We don't object to posts about real situations, but we don't have to make them exclusive. Alternatively, we can submit the materials to the regulatory agencies first."

“President Yu, that’s what I talked to him about too,” Liu Hao described. “He asked me a question that I didn’t know how to answer: ‘Why didn’t Guoshanfeng report the materials to the regulatory agency first?’”

Yu Xing couldn't help but laugh; that was indeed a good question.

He didn't answer either, but said, "The truth is too sharp. If a few more such sharp truths emerge in a short period of time, the forum may have to wait for a technical upgrade."

The Baixiaosheng Forum had previously undergone technical upgrades due to external pressures, forcing it to shut down its forum.

Liu Hao then asked, "What standards should be used to deal with similar situations that may arise in the future?"

Yu Xing remained silent for only a few seconds before saying, "Let's do things with the mindset of waiting for technological upgrades."

“President Yu…” Liu Hao sighed, “President Yu, Bai Xiaosheng is innocent…”

He continued, "Baixiaosheng's stock price dropped 10% this week, and I, as the president, am innocent too..."

Bai Xiaosheng became a direct victim of the exposure of the "King of Short Sellers." He was doing his business normally when the major shareholder suddenly became one of the most talked-about people in the global financial industry, suspected of violating regulations and full of controversy.

“360 has been privatized,” Yu Xing pondered. “If Baixiaosheng continues to face downward pressure, privatization will be an option.”

Liu Hao quickly said, "President Yu, I was just joking. I can handle the pressure. Bai Xiaosheng's assessment was only temporary; it hasn't reached that point yet."

He absolutely believed that the king of short sellers was capable of doing such a thing.

Yu Xing chatted briefly with Liu Hao and ultimately made adjustments, requiring the forum to indicate on the original post that the content had been simultaneously sent to the China Securities Regulatory Commission.

However, by the time the call ended, updated messages had appeared on the forum, and an insider also posted that Lu Sheng Mo Long's senior executives were involved in insider trading.

Instead of looking at the latest news in detail, he instinctively looked up the specific details of the listed company and quickly gave his opinion based on the information available at the time.

Lusheng Molong belongs to the petroleum machinery industry, and the sharp drop in oil prices in the past two years has led to a downturn in the industry. The company's actual operations should be severely incurred. This time, the company used financial fraud to embellish its financial statements, partly to avoid the risk of being designated as a special treatment (ST) stock.

The actual controller of this company had already reduced his holdings through block trades last year. This attempt to embellish the financial statements is likely an attempt to further reduce his holdings and cash out.

Yu Xing gave his opinion after watching for only a few minutes.

Listening to Brother Yu's analysis, Bi Sheng, who was standing next to him, felt that the aura of the King of Short Sellers was no longer dazzling, but was beginning to be blinding.

He said with admiration, "Excellent, excellent, Mr. Yu, you truly deserve the title of King of Short Selling, your insights are penetrating, you don't even need to pretend anymore!"

“What does this have to do with whether it’s acting or not? These are all fundamental issues, and you can see them at a glance.” Yu Xing shook his head.

Bi Sheng laughed and said, "It's different, it's different. The words of the King of Short Sellers are different from those of others."

He pointed to the laptop screen again: "President Yu, the Baixiaosheng Forum is now full of soldiers trained by the King of Short Sellers. The power of the masses is boundless. Those fraudulent companies are probably trembling with fear now and hate you to the bone!"

Yu Xing frowned slightly: "It's hard to tell what's good and what's bad when things are at the height of a storm."

This left him unable to discern whether it was a good or bad influence. In any case, the next day, during an online meeting of the Silicon Carbon Group, a concern about the second model was suddenly raised.

The daily work of the head of the silicon carbon group was temporarily switched to online. Everyone got used to the format quickly, but they were still not used to the fact that the boss on the screen was actually a big empty shell.

Cui Zhiyu found it even more unimaginable that the boss would actually go to Europe under a false name and stab industry giants like Volkswagen and Mercedes-Benz in the back, causing bloodshed.

However, on second thought, it's a tradition for the all-knowing scholar to wear an alias, and it's also a tradition for the boss to stab someone in the back. Crossing the mountain peak has indeed combined the two traditions into one.

His current concern is: "President Yu, our next model is a business van that will compete with the GL8. Will the target audience for this vehicle have any issues with the acceptance of our Silicon Carbon Group?"

Silicon Carbon Group has already initiated a project for its next business MPV, with a very clear target model and user group. However, Guoshanfeng is now the world's most well-known short-selling institution, and its sharp pursuit of the truth is remarkable...

In business, sometimes things are done intentionally, and sometimes they're done by deception. Domestic tradition still values ​​moderation, and the silicon carbon group, which is inevitably inseparable from Yu Xing, has this kind of brand image…

Cui Zhiyu really has to consider this.

Yu Xing was also asked about it. For now, he can only proceed with the research and development according to the plan, and discuss the matter in detail later when the storm has passed.

With the stock market closed for two days over the weekend, the China Securities Regulatory Commission (CSRC) responded swiftly to the concerns raised regarding "Lu Sheng Mo Long" by immediately launching an investigation. Meanwhile, the company stated that it has accepted inquiries from the exchange and will provide explanations and conduct a self-examination and rectification.

On Sunday evening, Xu Xin and Li Song met Yu Xing in a hotel suite. Yu Xing had not made a public appearance for almost a week.

This was also the first time the two had met the king of short selling since the mountain peak was exposed.

Xu Xin's emotions were very complicated, and she remained silent, unsure of what to say.

In stark contrast to her, Li Song was extremely excited, talking about his achievements over the mountain peak and the changes in public opinion and reactions over the past week, his words full of praise and envy for the king of short sellers.

Finally, he revealed his true intention in asking his wife to bring him to meet President Yu: "President Yu, I am also very interested in short selling. It's inconvenient for Guoshanfeng to show his face right now, but if you need it in the future, you can leave it to me."

Yu Xing held his teacup, took a slow sip, and then said, "President Li, short selling may seem dishonorable, but there are some hurdles involved."

Upon hearing this, Li Song instantly lost his composure, his face flushing red: "President Yu! What do you mean by that! I also have a background in finance!"

Yu Xing sighed and said, "It's not enough to just study finance to do well; 'real research' in short selling won't work."

Li Song was stunned, and Xu Xin looked up.

A moment later, the two men looked at each other. Sure enough, President Yu knew that they were shorting the stock, and even knew the specifics of the "real research" he was referring to. This was unexpected, yet perfectly logical.

He's the king of short sellers; it's within his capabilities for him to detect it.

Li Song's supposedly mysterious identity was exposed in a single sentence, instantly turning his long-standing friendship into that of an unknown nobody in the industry.

He was stunned, a mixture of joy and sorrow on his face. He moved his lips but remained silent, as if a pitiful, thick barrier separated him from the king of short sellers.

Li Song's attitude finally became respectful, and he clearly said in a low voice, "President Yu..."

Yu Xing grunted in response, but said nothing more. Xu Xin, seeing her husband's expression and then at President Yu's demeanor, instantly became furious: "Yu Xing, what do you mean?! I've been investing in you and footing the bill since Bai Xiaosheng, and Li Song has been covering for you ever since you started that Guiai.com website. You've been involved with Shanfeng, keeping it from us for so many years, and now, you now…"

She angrily retorted, "You really have no conscience now!"

Yu Xing countered lightly, "Are you asking a major short seller to have a conscience?"

Xu Xin: "..."

She was speechless for a moment.

Those surnamed Yu are all kings of short selling; he deserves this.

Xu Xin looked at her silent husband again and angrily punched his arm.

"Mr. Li, why did you only think of contacting me today?" Yu Xing said at this moment.

Xu Xin said irritably, "What else could it be? I was worried you were busy, in the middle of a crisis, why would I need to contact you?"

Li Song glanced at his wife, hesitated for a few seconds, and then honestly replied, "She scratched my face, so it's easier to come out now that it's not visible."

Xu Xin's fist was faster than Yu Xing's laughter.

“It doesn’t matter who shorts it. Guo Shanfeng shorted Fenzhong Media back then. He was a newcomer and had no reputation. He just relied on facts.” Yu Xing laughed for a while, feeling that the pressure of the past few days had dissipated. “If you can get evidence, it doesn’t matter who you find. If you can’t get evidence, why would you, the ‘real researcher,’ be the one to do it?”

He wanted to continue speaking, but then he saw a text message from Xiong Xiaoge on his phone.

Yu Xing looked at it and said, "Boss Xiong asked me if you two were also members of Over the Peak."

"Pah!" Xu Xin scoffed. "I'm the one who doubts him!"

Before Yu Xing could reply, he saw that Boss Xiong had quickly sent a second text message.

This time, he showed the text message content directly to the two people.

Xiong Xiaoge's suspicions are quite logical. He noticed that Li Song had been praising the "King of Short Sellers" on Douyin before the exposure of Guo Shanfeng, but after the exposure, not only did he not follow up, he also deleted the previous video out of guilt.

This small detail suggests something fishy is going on.

"Nonsense." Xu Xin handed back the phone, her doubts fading, but she still asked, "So, President Xiong really isn't a member of Guoshanfeng? Not even a member, let alone the mastermind? Then who else is in Guoshanfeng?"

Yu Xing replied calmly, "No, it's not him. The mountain pass isn't very big, and there aren't many people there. How could I tell you?"

He then brought up a more serious matter: "Also, Silicon Carbon has submitted a written withdrawal to the SEC and Nasdaq. We will not be listing in the United States. We will submit our prospectus to the Hong Kong Stock Exchange next Friday."

Xu Xin was taken aback: "So fast? It can be this fast? Didn't the Hong Kong Stock Exchange still need to investigate Shanfeng?"

"It's indeed quite fast. Guoshanfeng will release a detailed report on past short-selling cases next Monday, explaining that we shorted based on public information and fundamentals." Yu Xing pondered, "Hong Kong is a special case. I don't know if it can be listed. There may be twists and turns. I can't say for sure right now. I can only say that we will do our best."

Xu Xin pondered for a moment, then shook her head and sighed, "President Yu, you really are... sigh, this setback you've suffered this time..."

"Setback?" Yu Xing raised an eyebrow. "I don't think of it as a setback, nor do I consider this a setback. It's just part of my life and career."

He stood up and gave a slight sneer: "If we really can't go public, then we won't. It's not like we can't do it without going public. Did Guoshanfeng do something wrong?"

Xu Xin pointed out one point: "I don't know about other things, but the information disclosure regarding Guoshanfeng is probably inadequate."

Li Song had expected Yu to offer some explanation, but to his surprise, the king of short sellers instantly stopped smirking and simply sat back down.

Yu Xing nodded: "What you said makes sense. Crossing the mountain peaks is not without its faults, but compared to the goals we have found, I think they are all minor matters."

Li Song said admiringly, "President Yu, no wonder you were able to build Guoshanfeng into such a large company. You can listen to any opinion."

Xu Xin, who was standing next to her, sensed something was off about those words and retorted, "What do you mean by 'what opinion'? Did I say something wrong?"

“Go back to scratching if you want.” Yu Xing tossed a cigarette to Li Song, then lit one for himself. “Mr. Li, Guoshanfeng isn’t recruiting right now, but if you have any good discoveries, you can tell me.”

Li Song's spirits lifted, his eyes shining brightly: "President Yu, is this part of the assessment?"

Yu Xing chuckled: "No, it doesn't. If you really want to make money by short selling, you can just invest your funds in our Hong Kong hedge fund."

“I’m not just doing this for the money.” Li Song shook his head. “If I wanted to make money, I could rely on my wife.”

Xu Xin hesitated, then held back.

Li Song continued, "Mr. Yu, that's how the financial market works, and short selling is part of that. I didn't know you were Guo Shanfeng back then, but I still admire Guo Shanfeng, which is why I did the 'real research.' What I wanted was to investigate and verify those fraudulent companies."

Yu Xing nodded almost imperceptibly and uttered two words: "Seek the truth."

Li Song's eyes lit up: "Insightful, President Yu."

Xu Xin knew that Li Song needed her help, but she still couldn't stand his tendency to become a sycophant.

Yu Xing shook his head and checked the time again: "President Li, President Xu, I still have a lot to do and I need to entertain my guests. We can talk later when we have time."

Xu Xin and Li Song knew that the situation was special, so they didn't exchange many pleasantries and immediately got up to say goodbye.

Yu Xing escorted the two to the elevator, but didn't immediately return to the suite.

He waited for two minutes before Liu Jiankai, who had returned from abroad, arrived.

Yu Xing shook hands with Liu Jiankai: "Liu Ge, it's been a long time."

"Mr. Yu, it's been a long time." Liu Jiankai shook hands with Mr. Yu excitedly and said, "King of Short Sellers, I've heard so much about you."

Yu Xing hears similar things almost every time he meets someone, and he's become desensitized to it. He even extends his hand to welcome Liu Ge to his suite for a chat.

Liu Jiankai pursed his lips. All the doubts that had occasionally surfaced in the past were perfectly explained after the exposure of the mountain peak.

He now has a different kind of expectation for the empowerment that may come from the king of short sellers.

……

On Monday, December 3, the stock market opened.

Shandong Molong, which is under investigation, experienced a sharp drop to its daily limit amid high expectations.

There was no suspense; it happened too fast, and the onlookers all felt it was a great disappointment.

"Damn, the domestic stock market's limit-down price action protected Molong!"

"Today's utterly helpless limit-down means that if trading isn't suspended this week, it'll just keep hitting the limit-down!"

"Isn't this enough to trigger an ST warning?"

"As expected of the King of Short Sellers, Mr. Yu's short selling skills in the A-share market are truly masterful!"

Similar comments have appeared on Baixiaosheng Forum, Weibo, and Douyin.

Some people are still trying to correct the situation, saying that this is not Mr. Yu's intention at all, nor is it short selling by Guoshanfeng. This is an exposure from a passerby, who at most chose Baixiaosheng Forum as the place to post.

However, with the popularity of the "King of Short Sellers" at its peak, Bai Xiaosheng was almost considered to be Guo Shanfeng's domain. This exposure of Lu Sheng Molong was so unreasonable that it was attributed to Guo Shanfeng.

Whether he's the king of short sellers or not, that's the opinion I have.

Holding up President Yu like a torch, the ink dragon sizzled as it burned!

On Monday afternoon, the official website of Guoshanfeng was quietly launched in China, and a white paper on short selling was released, which for the first time clearly reviewed and explained all the methods and sources of information for short selling.

In short, Guoshanfeng conducts its short-selling business strictly in accordance with laws, regulations, and exchange rules, adheres to domestic and international capital market regulations, upholds market trading rules, and maintains fair market order.

　I recommend a book; check it out if you're interested: "Who Made Him Do Art!"

　　— An urban rebirth novel with multiple female protagonists and a harem, focusing on the professionalization of art and involving novel business routes such as commissioned works and art promotion. New readers are welcome to add it to their collection and follow along.

　　
　
(End of this chapter)