Chapter 126： Huaxia Future Capital

With the slump caused by New Century Financial Corporation on "Black Friday", the market's attention began to focus on subprime mortgage-related companies, and the share prices of other related companies were also affected and continued to decline.

About a week later, on October 22, New Century Financial said it would report its 2009 operating results to the SEC at a later date. That same day, an analyst at Bear Stearns, one of America's five largest investment banks Downgraded the share price of New Century Financial Corporation.

Affected by the news, the company's shares fell another 12% on the day.

The next day, on Friday, New Century Financial said again that lawyers and the New York Stock Exchange of America were investigating his accounts, and the company's stock price fell as much as 10% on the day.

On the same day, officials at the US Federal Reserve said they would set new regulatory standards for the conditions under which subprime mortgages were issued.

These are far from over, just after the weekend, on Tuesday, October 27th, New Century Financial Company reluctantly stated that all institutions that provided loans to the company had either terminated short-term financing, or had notified them. will take this action.

New Century Financial uses the loans from these institutions to provide home mortgages, and if the mortgage lender fails to repay the loan, the company will sell the mortgaged houses in the subprime market and use it to repay the financing.

In specific disclosures, New Century Financial has received notices from Bank of America, Citigroup, Credit Suisse, Goldman Sachs and Morgan Stanley, some of which are urging the company to speed up the repurchase of outstanding mortgages.

If all institutions required New Century Financial to repurchase loans, the company would have to repurchase up to $8.4 billion in loans, which would be an unbearable burden and would result in the company having to liquidate loans and other assets.

As soon as this bad news came out, New Century Financial's stock price plummeted 68.87% that day, and its market value shrunk by $2.532 billion in one day. Since October 16, in just 11 days and 9 trading days, the total decline of New Century Financial Corporation's stock has reached 88.5%.

Three days later, on Oct. 30, both the SEC and the U.S. Attorney for the Central District of California were investigating New Century Financial's accounting and stock trading ahead of its Sept. 7 earnings report.

After the weekend, on Monday, Nov. 2, New Century Financial revealed that the bank had cut off its sources of borrowing because of a lack of funds.

Its shares delayed the opening that day and ended the day down nearly 50% from the previous session. Shares of New Century Financial closed at $1.79 that day, down 96.8% from a one-year high of $55.97 in mid-September.

On this day, John Paulson closed all the short positions of the New Century Financial Corporation stock in the hands of the No. 2 Fund and No. 3 Fund, and bought the stocks that were shorted at the time of more than 50 US dollars at the cabbage price. The average entry price is less than $2...

The funds recovered in the shares of New Century Financial Corporation continued to be invested in short-selling of other related companies.

The next day, November 3, NYSE 1 halted trading in New Century Financial's stock, making an announcement that it was about to prepare to delist it.

A month later, New Century Financial filed for bankruptcy protection in a California court in what became the largest mortgage lender bankruptcy during the U.S. real estate downturn.

Affected by this, the international gold price fell by 10% that day.

...

At these times, William Chen was no longer in the United States, but went to China.

He set off on the 25th, because Huayi Company will be listed on the GEM of Shenzhen Stock Exchange on October 30. The Wang brothers invited Chen William to witness this moment.

And the reason why he came so early was because Chen William happened to do something else by the way.

When the plane landed, William Chen walked out of the airport with the bodyguard, and Li Ying found him and greeted him.

Today, Li Ying specially borrowed a Mercedes-Benz commercial vehicle from Huayi Company to pick him up. On the way, she reported to Chen William about her recent work situation.

Chen William's courtyard has been renovated for half a month, but it will take half a year to fully install it to meet the requirements for occupancy. It is not as simple as an ordinary villa decoration, except that the general structure remains unchanged. In addition, there are many places that need to be transformed, and even according to the design drawings, a heated swimming pool will be dug out.

So this time, Chen William needed to stay in the hotel. Before he arrived at the Wangfujing Peninsula Hotel, he gave Li Ying two tasks:

The first is that he is quite satisfied with Li Ying's work during this period, and he will have a lot of investment in China in the future, so Meta Investment Company will set up an office in China, and he will create this service The task of the department was handed over to Li Ying.

At the same time, William Chen will set up a venture capital fund for Huaguo start-ups called Huaxia Future Capital. After investing in Marvel, there is still $36 million left in the account of Meta Investment Company, and William Chen left $6 million as the company's daily operating capital, and will initially invest $30 million in Huaxia Future Capital.

Li Ying will be in charge of this venture capital fund temporarily, and the final candidate for the fund manager will be determined based on her performance.

The second task is to find a house for Chen William in Yanjing. After all, it will take at least half a year to stay in that courtyard, and Chen William estimates that he will spend a lot of time in China in the future, so he cannot stay in a hotel every time he comes. It's not convenient, so you need a place to live.

And he thinks that there are three caves for cunning rabbits, and he should prepare a few more houses to be prepared. It's like if you come to the hotel with Ivanta or Paris, but those female stars want to discuss acting with him, read scripts together, etc., it's not safe to always run to the hotel, isn't it?

As for the vehicle for travel, as the owner of a foreign-funded company, Chen William himself has a quota for imported cars, but he does not need to save so much money, it is troublesome, so he decided to buy a Mercedes-Benz S600 first, and a An Audi Q7, as a means of transportation for him and his bodyguards, does not need to buy a good one for the time being. These million-dollar cars are enough, and when William Chen leaves Yanjing, he can still leave it to Li Ying for transportation. .

No matter how you say it is your own representative, you can't be too shabby in style.

That is to say, the Maybach 62S has not been launched yet, or I will get a car of the same model from the boss.

Li Ying was not recalled to New York after Meta Investment Company's investment in Huayi Company. Instead, he helped the boss to build his courtyard. At that time, he was still a little muttered. Although he was his second assistant, he was also You can't just throw her to Yanjing and become a decoration supervisor.

As a result, after hearing William Chen's decision today, she finally breathed a sigh of relief. She felt good working in China. After all, she was more comfortable with the environment here, and she also had work experience in China before going to the United States. , now in China alone, it still feels very challenging.

It seems that I have wrongly blamed the boss before, hey, the boss is really handsome and insightful.

So, she happily went to complete Chen William's work again, and before she left, she did not forget to tell Chen William that the Wang brothers held a banquet in the evening and invited Chen William to go.

The Wang brothers are very good at coming and know that William Chen is a Hua Guotong, so they specially chose a private restaurant to entertain him. According to them, this restaurant opened in a courtyard is very famous in Yanjing. The former palace was rebuilt.

Chen William took Li Ying to the banquet in the evening. He explained to the Wang brothers what he told Li Ying today, that Li Ying would be his representative in China in the future, responsible for the Huaguo of Meta Investment Company. Office, as well as the Huaxia Future Capital Fund for investment in the Huaguo market, and the shares of the other party held by Meta Investment Company invested in Huayi Company will also be transferred to this fund, led by Li Ying In charge of all communications with Huayi Company, I hope that when she conducts business in Huaguo in the future, the Wang brothers can help her.

In this regard, the Wang brothers naturally agreed. Compared to when William Chen came to China last time, the Wang brothers were more enthusiastic about him this time, not only because he is now the major shareholder of Huayi, but also because the cooperation between the two sides has also started.

Chen William's earliest "Magic Mike" is not suitable for adding Chinese actors, but the "Hangover" he just invested in will have a character of Mr. Zhou. In the previous life, the version that Chen William saw, which contains this week The actor of Mr. is an actor of South Korean descent. This role can be taken out and given to the actors of Huayi Company to play.

Of course, the other party's English also needs to be fluent.

Regarding this matter, the Wang brothers are still very satisfied. Although this Mr. Zhou has not many roles, his performance in it is quite outstanding. If he plays it well, it can definitely make people impressive, and it can give the actor a certain amount of popularity in North America. Reputation.

Moreover, the investment in the two films of "The Hangover" reached 100 million US dollars, which can be said to be a medium production. This kind of opportunity is still very rare for Chinese actors.