I don’t care about the stock price, nor do I require market value management.
Interview｜Peng Xiaoqiu Zheng Jingting
Edit｜Yang Xuan Yuan Ling
Who is the next Ruixing? The short-selling agency targeted the online education company “with whom”. In the past three months, it has been short-sold by four institutions nine times, which is unique in the history of Chinese stocks.
In the past five months alone, funding for short-selling with another school increased by another $143 million. Its total short-selling capital is as high as 815 million US dollars, accounting for 21% of the outstanding shares-that is to say, with whom one-fifth of the foreign outstanding shares are in a bearish state.
This month is also a carnival day for short-sellers, who have made a profit of $246 million from whom they learned to be short-sellers, more than twice the amount of Ruixing, and have become a short-term profit-making medium stock.
Why do short-sellers bite hard to learn from? Who should I learn from is a low-key “super dark horse” or the next Luckin? For a time, almost everyone couldn’t understand who to learn from.
Specifically, people don’t understand who learns from them. The cost of acquiring customers is as low as a few hundred yuan, but their counterparts are thousands of dollars. They don’t understand that online education companies are suffering huge losses. The quarterly net profit is 200 million yuan; I don’t understand the market value in 3 months, and whoever learns the market value will rush from 4 billion US dollars to 11 billion US dollars…….
Several short-selling reports directly questioned who to learn fraud:
-After comparing the credit report and the SEC report of the short-selling agency Grizzlies, they believe that with whom to learn a false increase of 75% profit in 2018, and internal employees have been selling stocks; 70% of income;
-The muddy water is based on the download data of 200 K12 paying users that at least 70% of the students who learn from it are robots.
With whom to learn, five of the short-selling reports were responded to in detail. But the short-selling institutions still did not close, and new short-selling reports may strike again. A short-selling agency has indicated that the information has been passed to the regulatory authorities, and there may be new short-selling reports in muddy water.
With whom to learn, founder Chen Xiangdong has not spoken to the public for several years. Although he is extremely talkative-he started teaching GRE logic in New Oriental, and finally became the second leader of New Oriental. After he failed to start an education as an O2O in 2014, he began to talk quietly. But after being intensively short-selling, he desperately needed to change his previous low-key style and explain who he had learned from “not understanding”.
In this context, Chen Xiangdong accepted the interview. The following is the interview (edited):
Response to the counterfeiting question: about counterfeiting, billing, stock price control
: For whom to learn from, has such a intensive short sale been a major crisis recently?
Chen Xiangdong: That is definitely not a crisis this time, but a major external event.
Short two results. One kind of company doesn’t say 9 shorts, I can’t carry it in the middle; the other is that I can carry it so many times, and then I will become more and more cattle, let him (short) lose money.
The time when the number of short sales began to increase was when our stock price reached US$15 and US$16, corresponding to a market value of US$4 billion. But what these short-sellers did not expect was that our fourth quarter of 2019 revenue was 935 million yuan, and there was a net profit of 200 million yuan. Coupled with the impact of the epidemic, the stock price rose all the way to $40. How much do you (the short agency) lose?
And every time our stock price plunges, it’s not because of short selling, but because of the influence of other companies. Do we know why the first plunge? Ruixing Coffee exposed itself, and then exposed itself in the future. Everyone said that the future will be exposed. Is there no problem with whom you learn?
When we started learning from in June 2014, our understanding of business model was O2O—find a good teacher learning service platform, but later this project failed, so we did experience the darkest moment in 2015 and 2016. It is a major crisis.
: When citron’s first short report came out, what was your status?
Chen Xiangdong: At the beginning, it was still quite tense, because people pulled out your data. But after watching it for 20 minutes, I found that it was not a high-tech class (another business I learned from). At that time, more than a dozen of us started to call takeout and barbecue. It was very happy.
We also reviewed later. By the time of the third report, we had been waiting that night but the citron had not been sent. Our team was anxious and was a little out of control and did not control our emotions. (Remarks: Who did you learn from IR department employees have sent a message to urge Citron/Ctrion to say “Can you be faster? We can’t wait to s