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Preamble:
Wenzhou, a family that had made a vow to serve the motherland and society, but in the days that followed, it went against the grain, and in just three years, it cashed out 2 billion cash through seven stock sales.
Among them, the most dazzling second daughter in the family went to the United States after successfully cashing out 700 million yuan, and even showed off photos of participating in the inauguration ceremony of the President of the United States on social media!
So, why did the family's firm oath fall short? And why did you do all this?
The "development history" of the You family
The You family is a scholarly family, originated in Leiyang, Hunan, to talk about this family, but also from the 90s of the last century.
At that time, the old man of the You family established outstanding military exploits in the "Resist US Aggression and Aid Korea", and then after the reform and opening up, he transformed into a foreign trade business, and was the first group of people in Wenzhou to go to the sea.
At that time, Wenzhou was still just an obscure small city, and doing business was also a huge challenge, but Mr. You relied on his fearless willpower to develop the company all the way, and even became a leader in Wenzhou.
As the saying goes, "Tiger father has no dog son", his eldest daughter You Yuxian has been talented and intelligent since she was a child, and after graduation, she returned to her father to help her father expand the family business.
Soon, You Yuxian led the family business to grow stronger with her excellent business wisdom and leadership skills, and then, her sister You Lijuan and two younger brothers also joined the company, forming a huge family business, which was respected by outsiders as the "You Family".
In 1999, the You sisters had a unique vision and introduced a set of high-precision printing equipment worth 20 million yuan from Japan, which threw off their domestic counterparts at once, which also made their business flourish.
In 2008, their company "Hongbo Shares" was listed on the Shenzhen Stock Exchange, raising 1.2 billion yuan in one fell swoop, and the whole family of seven people owned 70% of the company's shares, and the board of directors was like a family party.
However, such a highly profitable business has also attracted a large number of competitors, who have introduced the most advanced equipment from abroad, and adopted a strategy of low-price competition, forcing Hongbo shares to a desperate situation, and in 2014, Hongbo's profits shrank to 23 million.
Cash out
Subsequently, You Yuxian adopted a lot of strategies and transformation plans, but they were unsuccessful, so starting in 2019, the You family began to sell the company's shares in a planned way, and hundreds of millions of yuan were cashed out every year, with a total of 2 billion yuan!
Once upon a time, You Yuxian still knelt in front of his father, and made a vow to serve the country and society. But now it seems that these lofty ideals have long since drifted away from the wind.
As soon as this incident broke out, the 170,000 shareholders were completely blindfolded, and the boss ran away, and he was still guarding this "empty shell" here?
In fact, as early as 2018, You Yonggui of the You family was arrested on suspicion of committing a crime, and the company's performance plummeted, and the company was suspended from listing because it could not disclose its annual report.
Subsequently, You Lijuan took over the company and began a more crazy cash-out, she was also the biggest winner of this cash-out plan, directly benefiting more than 700 million yuan, not only that, but she also posted a selfie at the inauguration ceremony of the President of the United States, which also caused an uproar.
In the face of such a huge flow of funds, the outside world has also questioned it, which has also led to a very bad impact on the business reputation of the You family, and the outside world has also believed that this practice has not only caused great damage to the interests of the company, but also seriously infringed on the interests of shareholders.
Future directions
In this context, the share price of Hongbo shares has also fallen all the way, and the market value has evaporated seriously, which has caused countless shareholders and investors to fall into anxiety and panic.
Hongbo shares in the You family gradually withdrew, its future development is also in the spotlight, the company recently announced that it wants to enter the artificial intelligence industry, and there are even rumors to cooperate with SpaceX, these somewhat out of tune program, will it be just a "smoke bomb" used to appease the emotions of shareholders?
Hongbo shares from a highly sought-after company to today's notoriety, deep in the center of the whirlpool of the You family, from the former business giant to today's precarious, embarrassed to cash out, but also to the capital market to provide a negative teaching material.
However, the operation of the You family to "cash out and leave" can also be said to be leaky, and finally successfully cashed out and exited, not only that, but it has already joined a foreign nationality.
Epilogue:
However, the matter is not over yet, no one knows what kind of ending the capital drama of the You family will end in, so let's wait and see, where will they end up?
What do the audience think about this?
Bibliography:
A family of 7 cashed out 2 billion! Hongbo shares closed down 6.5% - financial circles2024-06-20
A family of 7 cashed out 2 billion? Hongbo shares responded: There is no illegal reduction of holdings - Xiaoxiang Morning News2024-06-21
The market value of the "ownerless" cattle stock has evaporated by 60%: the equity is highly dispersed, and the top ten shareholders hold only 6% of the total shares! The company responded——China Times2024-06-25