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A dad is hard to find.

Editor’s note: This article comes from the WeChat public account “PingWest Pinwan” (ID: wepingwest), author Xuan Ning.

After the news of Ruixing Coffee ’s 2.2 billion yuan fraud was made public, another Hong Kong-listed company controlled by its founder Lu Zhengyao, Shenzhou Car Rental, also lost its trust in the market.

Faced with the stock price that was almost on the back on April 2, the Chinese department was eager to find a “self-help” method and openly found a father.

On the evening of April 9, Tencent “Shenwang” released an “exclusive” message, quoting “a person with knowledge in the capital circle”, saying that “Ctrip under the impact of the epidemic is negotiating the acquisition of car rental in China. And integrate Yihe car rental business, make Ctrip car rental platform bigger “.

It did n’t take long for the news to come out, and many Ctrip executives came out to refute the rumor. Ctrip officials also criticized this news as “fake news” the next morning.

But things are not over. On the afternoon of April 10th, the interface news released an exclusive news, saying that it learned from “close to Geely Group” that Geely is negotiating the acquisition of Shenzhou car rental, and even “has been investigating the offline stores of Shenzhou car rental to evaluate its value” . “Shenwang”, which had just reported Ctrip’s intention to acquire the company, followed up immediately, and released the news that has been quickly denied by Geely under the heading “Shenzhou Car Rental Responds Not to Comment”.
Yang Xueliang, Vice President of Geely Automobile Group, directly forwarded a related article that evening Reported Weibo, and wrote:

“Geely has no plans to acquire car rental in China, the two parties have never contacted, and have no interest in acquiring such a company.”
Shenzhen car rental will be “sold” within 24 hours Two times, two fathers were found. Behind this is the routine of making up market rumors to boost the stock price, which makes companies that have been “touched porcelain” cry and laugh. A person from Ctrip said in a circle of friends that the routine of Shenzhou was “too funny”. People with a clear eye will generally know the operation behind it: In the first step, Shenzhou Rent-a-Car will take the initiative to release it first, or even “jointly release” an imaginary financing message with some media. In the second step, these media went to issue an inquiry to the rumored purchaser, and at this time the so-called purchaser was naturally in a state of complete ignorance, answering “uninformed”. The third step is to release news from the media. The news has noses and eyes: there are news from insiders, there are ambiguous “unwitting” replies, and there is a well-founded analysis of how the two businesses complement each other. It really sounds like that. It ’s a pity that the fourth step in the stock price of China ’s original plan did not come as planned. This is not only because the news was quickly denied by the rumored party, but also because the news was sent at the wrong time-on April 10, Hong Kong stocks entered the four-day Easter holiday, and the exchanges were closed.
 

▲ Shenzhou Car Rental-“No Comment” expert

Since Ruixing announced that he has forged 2.2 billion in revenue, Lu Zhengyao ’s credit has actually gone bankrupt. But this does not mean that he can no longer continue to complete his escape by means of capital operation. In the article, the beast of the public number described this routine as “one fish and three eats”: “First of all, the company will be listed and the money from the financing will be divided. This is one eat; then it will increase the stock through false increase transactions. , Cashing out people by pledged stocks, etc., this is the second eat; finally burst out a giant thunder and sold the company’s shell, this is the third eat. “

Seeing entering the third stage, Shenzhou Rent-a-Car decided that no matter whether the shell was sold or not, it must first create an illusion that it would be sold soon. This kind of illusion needs to take the initiative to “clear” the relationship with Lu Zhengyao in addition to concealing various acquisition rumors mentioned above.

Shenzhou Car Rental issued an announcement on April 7 after the stock price plunged, proclaiming that it was “injustice”-“The company does not hold any American depositary shares or other securities of Ruixing Coffee , And the group did not participate in any business transaction of Ruixing Coffee. Although Lu Zhengyao was the shareholder and chairman of Ruixing Coffee, he resigned as the company ’s chief executive and changed his position as a non-executive director in April 2016. He has not participated in the group since Daily management “. This means that Lu Zhengyao, the company’s chairman and one of the main shareholders, is actually an “outsider” of Ruixing Coffee.

But in fact, without Lu Zhengyao, there would be no Chinese department today. As PingWest’s earlier article said, letting different companies under their control “help each other” is what Lu Zhengyao is best at:

In recent years, the two companies controlled by Lu Zhengyao have had frequent related transactions: Shenzhou Rent-a-Car, which is listed on the Hong Kong stock market, leases all cars that cannot be rented to China UCAR to improve its performance; the China-listed UCAR listed on the New Third Board is China Car rental provides a platform to help them sell their vehicle assets in the form of “lease first and then sell”, and UCAR receives a lot of platform service income from it. This kind of “interaction” was once in 2016, which led to nearly 40% of car rental income in China from UCAR, and also allowed the valuation of China Automobile, which was a long-term loss, to reach tens of billions of yuan.

In addition, Lu Zhengyao also used the resources of Shenzhou to the extreme during the listing of Ruixing:

Supporting Ruixing by mortgaging its own stock of UCAR and renting the office of China to Ruixing. According to the prospectus, in May 2018, Ruixing completed a financial lease of 350 million yuan, of which Lu Zhengyao held 35.3 million shares of China UCAR stock as collateral; Ruixing rented an office from China UCAR for one year and three years Monthly, the price is 4.2 million yuan.

Now that Lu Zhengyao wants to continue eating fish, he expects to quickly find a “father” for the Chinese department to buy this shell, and he will fail to share it with him. However, after the fraudulent exposure of Ruixing Coffee, people finally no longer trust Lu Zhengyao. The market is generally worried about the corporate governance capabilities and integrity of any company he participates in management. The Chinese department is becoming a hot potato.