After returning to Shanghai, Mr. Xu only slept for three hours.

The next morning, he convened a meeting with the core team of Zexi.

Several elderly men who had followed him for many years sat on either side, their faces filled with doubt.

President Xu didn't explain much, he just issued a few orders.

"All high-risk leveraged accounts will be forcibly liquidated before the market closes today! All speculative funds and second-generation funds with unclear backgrounds, regardless of their connections, will be returned to their original sources!"

"All confidential projects involving side agreements, large-scale market capitalization management, and collusion with listed companies to manipulate the market are hereby suspended indefinitely!"

"From this moment forward, Zexi will be completely closed to visitors. No interviews, no public forums. Anyone who dares to stand out will be fired immediately!"

The huge conference room fell into a deathly silence instantly.

Someone couldn't help but ask, "Mr. Xu, with the market so good right now, isn't it a waste for us to sell now?"

Mr. Xu glanced at him.

"You can earn money later, but you only have one life."

After those words were spoken, no one dared to speak again.

This private equity king, who has always been known for his sharp edge in the market, has actually started to back down.

……

The market did not immediately fall in the following days.

Conversely, the Shanghai Composite Index fluctuated repeatedly above 5,000 points.

The stock price plunged several times during the trading session, only to be forcefully pulled back up by a surge of capital.

Every sharp drop during the trading day was interpreted by retail investors, who were blinded by greed, as a sign that the major players were shaking out weak hands.

Every late-day rebound was enthusiastically hailed by the media as "a pause to build momentum before a new surge to 10,000 points."

Long queues still stretched as far as the eye could see outside brokerage offices; financial experts on television programs sang eloquently, spouting witty remarks; and stock forums were filled with an almost religious fervor.

"5,000 points is just the beginning of a slow and steady bull market!"

"5178 is not the peak, but a golden relay station on the road to the 10,000-point mark!"

The balance of margin trading and securities lending continued to climb, finally reaching a historical high.

More and more individual investors are adding money to their accounts.

Some people mortgaged their houses, while others took out consumer loans.

Some people use various off-exchange margin trading platforms to amplify the money that was originally only enough to buy one lot of stocks into several times or even more than ten times the original amount.

The fervor was like a thick fog, obscuring all danger.

The fact that Taichu Capital went bankrupt at this time has become a topic of conversation for many people.

An article began circulating on several financial forums and social media.

The title is jarring.

[Prime Capital: Selling a Prodigy Halfway Through a Bull Market]

The article is very good at stirring up emotions.

First, they acknowledged that the net asset value of Taichu No. 1, 2.85, was nothing short of miraculous.

He then changed the subject, saying that his initial judgment was amazing, but he was ultimately scared off by the fear of high prices.

The last sentence of the article is particularly striking.

"The real bull market has only just begun. Taichu Capital profited from the first half, but missed out on the most lucrative second half."

This article was quickly reposted.

The comments section below was buzzing with activity.

Some people felt sorry for it, while others mocked it.

Some say that the primordial capital was nothing more than this.

Some people sarcastically remarked that young geniuses are ultimately timid, and it's understandable that they know when to quit while they're ahead, but they shouldn't try to portray themselves as having a deep understanding of the market.

When Zhao Qiang saw the article, he was so angry that he almost slammed his tablet on the table.

"What do these people know?"

"Mr. Chen liquidated his entire portfolio at the peak, and they're still saying he sold too early?"

"They're really capable; let them generate a net asset value of 2.85 themselves and see!"

In the office of Taichu Capital, several young employees were also holding back their anger.

They watched Chen Mo build up his positions, adjust his positions, reduce his positions, and liquidate his entire portfolio step by step.

Know how much judgment and execution is behind this net asset value curve.

But outsiders, seeing that the market hadn't fallen yet, couldn't wait to start mocking it.

Zhao Qiang took the tablet and went to find Chen Mo.

Chen Mo is looking at the asset screening table for Taichu No. 2.

Zhao Qiang handed over the article that had over a million views: "Boss, look at this! These people are utterly slandering us online!"

Chen Mo glanced at the glaring title and casually pushed the tablet back, not even bothering to open it.

"It's well written, and the wording is very effective at stirring up the gambler's emotions."

Zhao Qiang was taken aback: "Great? Mr. Chen, they're using this to belittle us to attract traffic. If we let the public opinion escalate, it will affect our fundraising for the next round of products..."

"If the market really does reach 10,000 points, then what they said will be true."

Chen Mo slowly raised his eyes.

"Never try to argue with emotions that are driven by desire."

"You just need to stand on the shore and watch coldly. The market, the ultimate judge, will soon give everyone a standard answer at the bloodiest price."

Zhao Qiang fell silent, his restlessness completely calmed down without him even realizing it. He took a deep breath and stepped back.

……

Mid-June.

The first crack finally appeared.

At first, it wasn't obvious.

Several securities firms have begun to tighten restrictions on some margin trading and securities lending targets.

Several large off-exchange margin trading platforms have increased their margin requirements.

Some stocks that had seen huge gains suddenly crashed during trading.

One second it was surging, the next it was hit by several large orders and plunged into deep waters.

The ChiNext market has begun to weaken.

The discount of stock index futures widened.

The number of times the stock price plunged during trading was increasing.

Even after each sharp drop, funds still rush in to buy at the bottom.

The upward momentum is not as strong as it was a few days ago.

The market remains bustling.

But beneath the surface of the excitement, funds began to feel uneasy.

In the Taichu No. 2 office, Chen Mo handed a thick list to Zhao Qiang.

"Send it to President Lu."

Zhao Qiang took it and saw a few words written on the cover.

[List of Core Assets Under Support for Taichu II]

The list is divided into several categories.

Financial weighting, military industry, high-end manufacturing, semiconductors, and new energy materials.

There are also a small number of leading companies with stable cash flow and long-term investment value.

Each company's listing includes the trigger price range, liquidity requirements, purchase timing, and account allocation recommendations.

Zhao Qiang turned a few pages, his breathing gradually becoming lighter.

He couldn't help but ask, "Mr. Chen, is it almost time?"

"not yet."

Chen Mo said.

"It's just a crack now."

"We'll only act when the cracks become a place for trampling."

Zhao Qiang nodded and immediately arranged for encrypted transmission.

Nine o'clock in the evening.

Lu Zhilan called.

She has already looked at the list.

"The preparations were very thorough."

Chen Mo said, "When the market really slows down, there won't be time for impromptu discussions."

There was a full five seconds of silence on the other end of the phone, after which Lu Zhilan let out a soft sigh.

"Chen Mo, you are truly a genius. The list is approved, and Primordial Beginning II is ready to deploy at any time."

The call was disconnected.

Chen Mo casually tossed his phone onto the table.

The city lights outside the window were dazzling, as if nothing had happened.

But just outside this bustling area, the first large-scale off-exchange margin trading platform issued a margin call notice to its clients.

Many people don't realize that it wasn't an ordinary text message.

That was the first crisp sound that came from deep within the mountain before the avalanche.

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