As soon as Su Cheng finished speaking, a burst of thunderous applause erupted from the scene.
A series of policies such as improving service quality, providing free services to the elderly, young and disabled, replacing buses, etc., can be said to be definitely a good thing.
This has also made many people admire Su Cheng. This is giving up their own interests!
However. What they don’t know is that things like increasing wages for lower-level employees and providing free rides to the elderly, young and disabled can actually not reduce profits at all. For example, in the bus industry of China Bus, it will only reduce profits by at most one percent a year. Income of hundreds of thousands of Hong Kong dollars.
Spending one million and several hundred thousand Hong Kong dollars to completely change everyone’s impression of Chung Hwa Bus is such a cost-effective thing.
What's more, although China Bus will continue to operate the bus business, its focus will shift to the real estate industry. The real estate industry is the most profitable industry, and it is much better than the bus business that makes hundreds of millions of Hong Kong dollars in profits after hard work for a year. Much more.
Previously, China Bus did not have these free policies, and the same was true for Kowloon Bus.
The introduction of these new policies in Sioux City can be regarded as completely changing the way the bus service industry operates.
If nothing else, after China Bus implements the policy of free rides for the elderly, young and resigned, Kowloon Bus will have to follow this policy, otherwise, they will also be complained to the point of collapse .
The press conference of Chunghwa Bus was held very smoothly.
After it was over, Yan Chengkun did not leave immediately, but stayed to hand over work matters to Zhang Qizheng.
Looking at his reluctance to give up, Su Cheng felt a little guilty for his forced acquisition of China Bus.
However, isn’t that what shopping malls are like? If you want to do well in the shopping malls, this is what you should do.
So, Su Cheng only had such an idea for a moment.
What's more, under the control of the Yan family, China Bus's reputation in Xiangjiang is not good at all.
Sioux City acquired China Bus and improved the service of China Bus. This is also for the people!
From this point of view, it is absolutely correct to seize the management rights of Chung Hwa Bus. From the overall perspective, it is for the sake of the citizens of Xiangjiang!
If the Yan family cannot manage China Bus, then you should let others take charge!
Hundreds of reporters left quickly after the press conference. They had to go back to write articles and try to write some outstanding articles, so that they could stand out in this hot news topic.
The news here quickly spread to the Xiangjiang Stock Exchange.
As the largest stock exchange in Hong Kong, it is very sensitive to business news, especially news about listed companies, which will affect the stock price of the listed company in minutes.
At this time, the stock of China Bus was very lively.
When the market opened yesterday, the stock price was above HK$40.
However, after the Yan family continued to sell shares, the stock price continued to fall.
After all, sudden large-scale selling will definitely have a great impact on the stock price.
Yesterday, the Yan family sold a total of more than 2.8 million shares.
However, this is not all they have. When the market was about to close yesterday, the Yan family directly listed 5 million shares, and the stock price was all 30 Hong Kong dollars per share. For the Yan family, HK$30 per share is already a very good deal. According to the estimated actual value of China Bus, converted into stock price, it is only about this price.
So, if they can all be sold at HK$30 per share, they will happily accept it. Several large consortiums interested in acquiring their shares only offered more than 20 Hong Kong dollars per share. The highest consortium bid was only 25 Hong Kong dollars. This is why the Yan family has not been able to negotiate with them for the time being. They also hope that their stocks can be sold at a price of more than 30 Hong Kong dollars, so that they can withdraw from China Bus willingly.
The order for five million shares is very huge. The total issued shares of China Bus are only 47 million shares. These five million shares are equivalent to more than 10% of the total shares. .
Such a large order will naturally continue to drive down the share price of China Bus.
As soon as the market opened, the share price of China Bus continued to fall, from 30 Hong Kong dollars to about 28 Hong Kong dollars.
As for the five million orders placed by the Yan family, they only sold less than 10,000 shares. The transactions were frequent, but they had little to do with the Yan family.
However, what the Yan family did not expect was that after the news of the press conference from China Bus reached the Hong Kong Stock Exchange, the share price of China Bus began to rise again.
Soon, the stock price once again reached 30 Hong Kong dollars per share.
As the saying goes, there is strength in numbers, and there are a lot of investors in Xiangjiang, even when the stock market conditions are relatively average today.
So, at the end of the press conference, one-half of the five million shares had been sold, and there were still investors who continued to buy. If this rate continues, five million shares would have been sold. Ten million stocks will definitely be sold out in the morning. This is based on the most conservative calculation. If we go at the current speed, maybe five million stocks will be sold out in another hour.
At this time, Yan Chengkun did not know that he was still responsible for handing over work to Zhang Qizheng at the headquarters of China Bus.
As for his son, Yan Jieqiang, after the press conference, he hurried to the Xiangjiang Stock Exchange to take charge of the overall situation.
Just as Yan Chengkun and Zhang Qizheng were handing over, the office phone rang.
This phone had been used by Yan Chengkun before. Now it rings. Of course the other party is looking for Yan Chengkun.
So, although Yan Chengkun is no longer the chairman of the company, he still answers the phone habitually.
Unexpectedly, the caller was his son Yan Jiiqiang.
"Dad, good news, our stocks are selling like crazy. More than half of the five million shares listed at the market close yesterday have been sold, and most of them were traded within half an hour. Yes, that is, after the news of the China Bus press conference reached here, the trading volume continued to rise. If this continues, our five million shares may be sold out in half an hour to an hour! "Yan Jieqiang excitedly reported the good news to his father.
Of course Yan Chengkun knew about the five million shares, because it was his decision as the head of the Yan family.
In his opinion, after the press conference ended, everyone knew that there was no competition between the Yan family and Su City, and it would be difficult for the stock price to maintain a high price. This was why he directly listed five million shares. If it's difficult to sell, then we won't do any trading, just sell it, and we will sell as much as we can.
However, they did not expect that Sioux City's takeover of China Bus would be favored by so many investors. (End of this chapter)