Plunging 87% in 1 second, does it sound exciting? Does it think which Tianshan old banker is back from the dead, with billions of dollars in smashing the market? The truth is absurd, the smashing money is only 40 yuan RMB.
40 yuan can’t order a hearty take-out meal, but it can smash 87% of the market value, which is very damaging and even more insulting. The one who was humiliated by 40 RMB is Yi Xiaodi, a real estate tycoon and one of the “Six Gentlemen of Vantone”.
Thirty years ago, Feng Lun, Wang Gongquan, Liu Jun, Yi Xiaodi, Wang Qifu and Pan Shiyi gathered together, and were known as the “Six Gentlemen of Vantone”. They adopted the same system as that of the Liang Shan Mountain: orderly seating, no distinction in profit.
At the beginning of the real estate industry, the “Six Gentlemen of Vantone” stood out from the many grassroots entrepreneurs. When they started to engage in real estate, Wang Shi was still thinking about dumping corn, engaging in garment factories, watch factories and so on.
After the good men of Liangshan Mountain had made some rivers and mountains, they went their separate ways. Vantone, which started with the “Water Margin Model”, eventually broke up. Leaving Vantone, Yi Xiaodi, like Pan Shiyi, engaged in real estate.
In 1999, Yi Xiaodi founded Sunshine 100, and took the company to Hong Kong stock market in 2014. The impression of Yi Xiaodi to the outside world is that he always wears a dark suit, speaks softly, and is gentle and elegant. When it comes to real estate, Yi Xiaodi is also called “Buddhist”.
It can be seen from the sales, in the year of listing in 2014, the sales of YangGuang 100 were about 6.667 billion yuan. 2020 sales were around 10.5 billion yuan, while the sales of the 100th ranked company had more than 33 billion yuan in the same period.
The transformation path of YangGuang 100 is also very winding. After listing in 2014, it began to transform from traditional residential developers to non-residential business, and in 2015, Yi Xiaodi increased the code of cultural tourism real estate and took over 51% of Li Yapeng’s Snow Mountain Art Town project.
Later, the snow mountain town demolition is not ideal, Li Yapeng was forced to debt news flying around. Some people went to the snowy mountain town site actual photography, found that the weeds are higher than people, full of desolation.
By 2019, Yi Xiaodi decided to leave the residential mainstream real estate market and go all out on an innovative product line consisting of commercial complexes, Himalayan serviced apartments, and cultural travel towns.
Non-residential business is not something that can be done whenever you want, it requires high operational service capability, and the long capital return period is also a big test. Yi Xiaodi failed to win the turnaround battle. In the first half of the year, the net loss of YangGuang 100 reached 360 million yuan, expanding 5234% year-on-year. In the first 11 months, sales of Sunshine 100 were about 2.913 billion yuan, down 67% year-on-year.
Under the sluggish performance, the capital of Sunshine 100 has been in trouble, with bonds and maturing notes defaulting one after another. The poor fundamentals made investors lose interest. The trading volume of Sunshine 100 was like stagnant water, and even three to four thousand Hong Kong dollars could be played for a day.
So there was an absurd scene. On December 6, the share price of Sunshine 100 fell from HK$0.39 per share to HK$0.05 per share in one second, causing the share price to plummet 87% because someone hung a sell order for 1,000 shares at the price of HK$0.05.
On December 6, a sell order of 1,000 shares at HK$0.05 smashed the share price of Sunshine 100 from HK$0.39 to HK$0.05 per share in one second
According to this price, 1,000 shares only cost 50 yuan, or Hong Kong dollars, which is 40 yuan. But if a listed company has a little bottom, why would it be so humiliated? Some investors said, if I can buy, I want to use 860 blocks and then give a doubling up, you think Yi Xiaodi do not want? Smash down easy, pull up as if to heaven.
In business history, evergreens are always few and far between, and the glory is always blown away by the rain. Faced with the dilemma of Sunshine 100, perhaps, the people will say: the old lady boiled donkey skin system gum – hard to boil.