My Fintech Empire

Everyone saw the announcement issued by the SGX, and saw Fang Hong publicly criticize a number of Internet platforms under the Qunxing Group, which made many people believe that the governance of "stock market essays" will usher in an unprecedented force.

Including some industrial chains and interest chains that receive "essays" have also realized that they may not be able to play in the future and have to find a new way out.

This is an all-round and full-link governance of stock market essays. Fang Hong has already spoken publicly and even criticized the Internet platforms under his own Qunxing Group. It basically indicates that these Internet platforms will soon usher in a large-scale cleanup and rectification of stock market essays.

And these Internet platforms of Qunxing Group are basically the mainstream platforms of the domestic Internet. As long as these platforms are restricted, the influence of stock market essays and the impact on the market will be greatly reduced.

In order to truly control stock market essays, many Internet platforms are indispensable key links. One of the important reasons why the power of essays can be so great is that they are quickly and widely spread through many Internet new media platforms.

One of the governance measures of the platform is to limit its flow.

The major Internet platforms under the Qunxing Group are currently discussing this matter and have decided that all platforms will unanimously implement special flow control on information related to the stock market and finance. For example, self-media, bloggers, etc., as long as they publish information and posts related to the stock market and finance, whether they are normal or not, they will be subject to flow control.

Because financial issues are relatively special and different from other sectors, they must be strictly controlled. This is also to prevent some self-media from developing in this direction. There is no future. After all, it is better to leave this sector to professional institutions.

However, it is not a one-size-fits-all approach. Information dissemination media endorsed by authoritative institutions will not be subject to flow control. Even if it is a media endorsed by an authoritative institution, it does not mean that all will be released. There are also preconditions, that is, the source of information must be clear. If the information released does not clearly identify the source of information, it will also be downgraded, that is, precise flow control.

The announcement released by the SGX and Fang Hong’s Weibo comment on the stock market essay released this morning have received strong support from the majority of stockholders.

[Many essays have been stirring up trouble in the market, cheating and committing evil, and they should have been severely regulated long ago. ]

[K God hit the nail on the head, and he is brave enough to criticize himself and not cover up his shortcomings. The platform under Qunxingxing is his own and he does not indulge it. This is very good and must be praised. ]

[Why can "small essays" affect stock trends? Are we all fools? ]

[This is not a question of fools. Even if you can see many loopholes in some small essays at a glance and they are obviously false and have been falsified later, why can they still succeed? Because you don't believe it yourself, but you will worry that others will believe it, and worry that there will be fools who will really be fooled. Others are also worried that others will believe it, so it is better to believe it than not to believe it, so you should smash the market and run away. This is also the reason why small essays are so powerful. ]

[It's a bit like a "prisoner's dilemma"...]

[The stock market is a market where information and funds converge. The current "small essays" have a low threshold and are in huge numbers. But the strange thing is that although many knowledgeable people have long believed that these psoriasis should be strictly treated, it is not difficult to find that some major media and newspapers, such as XXX.com, are not sure whether they are lucky or part of the interest chain, or they just do their own thing to gain traffic. ]

[What "small stock market essays" by insiders, sources, and celebrities are not as simple as gaining traffic. There are often interest chains and industrial chains lurking behind them. The false information that looks "positive" is deliberately released to enlighten investors who do not know the truth. ]

[The SGX market is the real future of the A-share market, no doubt! Why are you optimistic about the SGX market? Because they not only say it, but also do it, and they don't delay. ]

[Today is July 1, the first day of the official implementation of the new delisting rules of the SGX. It can be seen that the SGX market has made great efforts and done great things in improving the market mechanism, and is improving and clearing a series of obstacles that are not conducive to the healthy and benign development of the market. ]

[Since the establishment of the SGX, I believe that the stock market will get better and better. Of course, I am talking about the SGX...]

...

At this moment, there are still a few minutes to nine o'clock, and the SGX market will open.

These news that appeared before the market, the SGX's governance of the stock market has won wide support and praise from the market.

If the same thing happened next door, stockholders would definitely sneer at it, and even be afraid of the mention of investor protection, because every time the mention of investor protection is mentioned, stockholders will cry out in loss.

But the SGX is different. Stockholders feel differently from the bottom of their hearts. The SGX really does what it says to protect investors.

As nine o'clock arrived, the SGX market officially opened. Today is the first day that the new delisting rules have officially come into effect. The SGX 50 Index opened flat and then fluctuated upward after opening.

At around 13:00 in the afternoon, the SGX 50 Index regained the 5,400-point mark, and the historical high of 5,554.06 points on April 8 was already within reach.

However, today's A-share popularity rankings saw an epic death scene, which can be called a historical wonder and unprecedented.

Today, the top 15 stocks on the A-share popularity rankings all plummeted by more than 70%, and they were the 15 listed companies that refused to sign the SGX market. Today is July 1, the day when the SGX's new delisting rules are officially implemented.

These 15 listed companies, which were already well-known before, have not signed the new regulations supplementary agreement until today. The SGX has made a decision to delist these 15 listed companies for not complying with the new regulations.

It has to be said that the efficiency of this work can be said to be very fast, without any delay. Since they did not sign, they were sent away directly on the first day of the implementation of the new regulations without any retention.

Because these 15 listed companies did not sign the new regulations supplementary agreement, under the principle of non-retroactive law, the new regulations do not count as old regulations, so the delisting of these 15 listed companies will not be required to be implemented in accordance with the new regulations.

The reason why these 15 listed companies plummeted so much today is mainly because today is the first trading day of the delisting consolidation period.

According to the trading rules of the delisted stock consolidation period of the SGX market, the trading period of the delisting consolidation period is 15 trading days. On the first trading day of the delisting consolidation period, there is no price increase or decrease limit. On the second day of the delisting consolidation period and thereafter, the price increase or decrease limit ratio is plus or minus 10%.

The 15 listed companies confirmed to be delisted today had an epic explosion at the opening, and were therefore watched by countless stockholders. Everyone searched for these 15 stocks, so their popularity soared, resulting in the top 15 stocks with the highest attention on today's popular stock rankings being these 15 listed companies.

Among them, the first on the popularity list is Yiou Shares. This stock is the one that has not been ST among the 15 delisted stocks and has the highest market value among the 15 stocks. It is also the most tragic one. The market value before the plunge was 4.27 billion, and before that, it was less than 1.9 billion after eight consecutive limit drops.

At this moment, the intraday decline was -98.86% with only 1.878 billion left. The stock price fell from 10.52 yuan to only 0.12 yuan. Only more than 21.4 million yuan was left out of 1.878 billion. From 4.27 billion before the explosion to 21.4 million now, the market value of nearly 4.25 billion evaporated, and the decline rate reached -99.49%. It was basically wiped out. Only 5,000 yuan was left after investing 1 million, which was basically equal to zero.

The 28,000 investors in it, whether they were small and large retail investors or public and private equity institutions, the funds held in the stock were directly wiped out without distinction.

Because the company refused to sign the supplementary agreement of the new regulations, an epic thunderstorm broke out later. The company's performance was actually all inflated. It was found that the company created false performance through supply chain finance and other means. The founder was also exposed to have run away and the company did not want it directly because it had no value.

The new delisting regulations of the SGX were implemented, and the company refused to sign the supplementary agreement to advance its explosion.

...(End of this chapter)