I'm in the county town, and you say I'm a big shot?

Chapter 570 Hoping Mr. Fang can consider the bigger picture and stop short selling.

When he woke up, it was the next morning. He was lying in a hospital bed with his wife looking at him anxiously. There was also an acquaintance next to him, his assistant Zhou Fan.

"Zhou Fan, how's the futures market going?" Jiang Wei asked hurriedly.

Zhou Fan hesitated for a moment and said, "President Jiang, don't worry about these things, just get some rest."

"That's right, honey, are you risking your life for money?!" His wife chimed in, "Zhou Fan is keeping an eye on everything for you, don't worry."

"I don't know the situation and I can't rest," Jiang Wei replied, then looked at Zhou Fan: "Tell me the truth! I can handle it!"

Zhou Fan hesitated for a moment, but after Jiang Wei's repeated urging, he finally spoke: "M1403 hit the daily limit down last night, and it's still at the daily limit down this morning. Also..."

"What else?"

"Someone posted online that you personally opened multiple accounts to manipulate the methanol spot and futures markets."

Jiang Wei fainted again after hearing this.

The methanol M1403 contract hit its daily limit down for two consecutive days, finally closing on Sunday. Jiang Wei, lying in his hospital bed, thought he could finally catch his breath, but unexpectedly, it continued its downward spiral on Monday!
The extreme one-sided trend caused the contract price to fall by 20.1% in three trading days, and the price also dropped from a high of 4210 points to 3380 points, forcing the Zhengzhou Commodity Exchange to announce a one-day suspension of trading for the M1403 contract.

Today is Tuesday. Fang Qingye went to work at the bank in the morning, but didn't go in the afternoon. Shi Guangrong came instead.

Shi Guangrong came from Wuyang County. He went to see the wind power equipment factory he had invested in, and instead of going directly back to Shanghai, he took a detour to Nanxin to visit the nursery.

The weather was nice today, sunny and bright, so instead of staying in the office, I sat in the courtyard, enjoying the sun and drinking tea.

"How's the construction of your wind power equipment factory going?" Fang Qingye asked casually.

"It's still early. The factory has just been built and equipment is being delivered gradually. After the Spring Festival, the engineers will start installing and debugging the equipment. It is estimated that we will not start production until May."

After finishing his sentence, Shi Guangrong sighed and said, "Setting up a factory is much more troublesome than playing the stock market or futures market. I have to go to Wuyang every week. All sorts of problems keep popping up, things you can't even imagine. It's giving me a huge headache."

Fang Qingye chuckled and said, "That's right. Of course, running a manufacturing business is hard work. Look at Wenzhou in the past, where people used to make clothes and shoes. Now they've all stopped. What are they doing? Speculating in real estate, stocks, and futures!"

"Speaking of futures, did Lin Guangmao and the others thank you?" Shi Guangrong asked.

"They called as soon as methanol prices hit their first limit down, even offering to thank me in person at Nanxin, which I politely declined. They even came all the way here and asked my grandma to cook for them—don't they find that troublesome?!"

"Haha." Shi Guangrong laughed loudly and pointed at Fang Qingye: "You, you. If Lin Guangmao heard this, he would be so angry that he would vomit blood. It would seem like he came here just to freeload."

"I don't think it's necessary to make a trip. We can just talk on the phone if anything comes up," Fang Qingye said.

Shi Guangrong understood that he wouldn't really welcome Fang Qingye to this small nursery unless she was a true friend of his.

"Methanol has now hit the daily limit down for three consecutive days, and the price has reached 3310 yuan. According to Zhu Yi, their average holding cost is also around that level, which means they are not losing money. This has finally saved them."

"If there are three more limit-down days, it will break the 3000 yuan mark, and our small goal will be achieved."

Fang Qingye shook her head.

"What? You think it's impossible for it to fall any further?" Shi Guangrong asked.

Fang Qingye picked up her teacup, took a sip, and said, "Do you know why the M1503 contract is suspended from trading today?"

"The market is experiencing a sharp, one-sided decline. In order to stabilize the market and prevent further panic, the Zhengzhou Commodity Exchange has suspended trading for one day."

“But you still have nearly 4 short positions that haven’t been sold yet, and you’re planning to put them on the limit down tomorrow. How do you think they can stay calm?!” Fang Qingye replied leisurely.

"Ha, that's true, we're the biggest short sellers right now!" Shi Guangrong laughed.

"There are also rumors that 86 clients have been forced to liquidate their accounts due to the three consecutive days of limit-down trading, involving a total amount of 5.77 million yuan."

"What do you mean?" Shi Guangrong keenly sensed the meaning behind Fang Qingye's words: "The higher-ups want to interfere?!" "Yes, not today, but tomorrow. I reckon the call will come soon."

After Fang Qingye finished speaking, she picked up her teacup again to take a sip when her cell phone on the table rang. Fang Qingye picked it up and saw that it was a landline call from Shanghai.

Moreover, the company name was also there: it was actually CITIC Securities, the futures company where he opened his account!

"Look, speak of the devil and he appears on the phone." Fang Qingye picked up his phone and showed it to Shi Guangrong before answering the call.

"Hello, are you Mr. Fang Qingye?" A middle-aged man's voice came from the other end of the phone.

"Yes, who are you?"

"I am Gu Qingbin, General Manager of CITIC Securities."

"Hello, Mr. Gu."

"Hello, Mr. Fang, I'm calling to discuss something with you, which is about your investment in the methanol M1503 contract."

"What? Mr. Gu, did my investment violate any regulations?" Fang Qingye asked back.

"No, your position building and operations are completely in compliance with relevant regulations," Gu Qingbin said over the phone.

"Then I don't know, what did Mr. Gu mean by calling me today?"

"That's right. The impact of the methanol M1403 contract this time is too great, it has gone beyond the futures market and affected the spot market. The price has fluctuated wildly, causing some small and medium-sized investors to suffer heavy losses. In order to protect their interests, our futures company suggests that you stop shorting."

Fang Qingye laughed after hearing this.

"Mr. Gu, what are you saying? I'm operating in compliance with regulations and you're telling me to stop, but you're not doing anything about someone suspected of manipulating the market in the M1403 contract?! This isn't my opinion; there are posts like this all over the internet, making it sound so convincing that it's hard not to believe them."

"Mr. Fang, let me explain. I also saw the post online about Jiang Wei, the general manager of Chengdu Xinhua Huagong Company, manipulating the M1403 contract. But Jiang Wei doesn't have an account with our company, so we have no right to interfere. However, I heard that the Zhengzhou Commodity Exchange has started an investigation! If it's confirmed, it won't be resolved with just a fine!"

"I hope the truth will be thoroughly investigated and the investors will be given an explanation!" Fang Qingye said with a sense of conviction.

"Definitely, we have to give the higher-ups an explanation." Gu Qingbin paused on the other end of the phone before continuing.

"I just told you to stop shorting. Please seriously consider my suggestion. Of course, this is not only the opinion of CITIC Securities, but also the opinion of Zhengzhou Stock Exchange and Shanghai Regulatory Bureau of China Securities Regulatory Commission. I hope Mr. Fang can consider the overall situation."

Fang Qingye had the phone on speakerphone, so Shi Guangrong could hear their conversation clearly.

He smiled at Shi Guangrong.

See that? The big boss behind the scenes has intervened!
"Of course, it's not just you, Mr. Fang. As far as I know, several futures companies have received notices from above, giving the same advice to some investors who participated in this M1403 speculation."

"I understand, I'll cancel the order tomorrow!"

Thank you for your cooperation. Have a nice day, goodbye!

"goodbye!"

Fang Qingye hung up the phone.

Shi Guangrong said with a wry smile, "It seems I'll be receiving a call soon too."

Let's just leave.

Unfortunately, it seems that the plan to earn 800 or 900 million yuan to help Ele.me make some money is no longer feasible.

They only made 300 million.

(End of this chapter)