Reborn in 2014: A One-Man Tycoon

Chapter 253 Pinduoduo Achieves Great Success

This is why the UK stock market is subject to relatively lax regulation.

If this were happening in the country, such a large-scale financial operation would be considered a serious violation.

It was already stopped or regulated long ago.

Capitalist markets, with their high degree of marketization, allow for market self-regulation, thus leading to greater speculation.

Moreover, the UK stock market is large enough.

With over £200 billion at stake, it's unlikely to make much of a splash.

However, Meng Chuan's actions have caused George a lot of trouble.

After finally making it to the afternoon closing time, George was so exhausted that he almost collapsed into his chair.

By the time the market closed, Meng Chuan had borrowed a total of 30 billion shares and sold them all.

There are only about 30 billion shares in circulation in the market.

In other words, Meng Chuan borrowed all of the 02 shares by himself.

And then they all sold them back to the market.

This series of actions resulted in a direct loss of 90 billion yuan for Meng Chuan.

Only 178 billion yuan of principal remains available for operation.

"Continue tomorrow."

Meng Chuan said this to George, and then hung up the video call.

Meng Chuan checked the time again; it was already 1 a.m.

"What you're doing is very dangerous."

Shadow Butterfly finally spoke.

She spent the entire night helping Meng Chuan with his translations.

Aside from translating, she didn't say a single unnecessary word.

But after finishing the operation, she said solemnly.

Yingdie isn't very knowledgeable about stocks.

But she still learned quite a bit today.

Meng Chuan had already turned £100 billion into £268 billion.

They've already earned £168 billion.

Although she didn't know where Meng Chuan's £100 billion principal came from.

But reason told her that Meng Chuan should stop.

Continuing to play this game could very well backfire.

For example, Meng Chuan has already borrowed 30 billion shares at £14 per share.

They've already lost 90 billion.

If the stock price rises by another 1 yuan per share tomorrow, Meng Chuan will be liquidated.

Because Meng Chuan wants to buy back 30 billion shares at £15 per share, it would cost £450 billion.

Meng Chuan's initial investment was simply insufficient.

Therefore, Meng Chuan went too far and couldn't withstand any setbacks.

"It's alright, I know what I'm doing."

Meng Chuan checked the time and said to Ying Die:

"Don't go back today! Just rest in my dorm!"

As Meng Chuan spoke, he turned on his phone.

After finishing his phone call with Ollie, Meng Chuan turned off his phone.

Because he needs to be fully focused on the operation.

I don't want to be disturbed or distracted.

Yingdie nodded, picked up her clothes, and went to the bathroom.

Meng Chuan wouldn't listen to her advice, and there was nothing she could do.

Meng Chuan lay on the bed.

Then, as the phone was turned on, a flood of information rushed in.

Almost all of them belong to Wang Zheng.

There were thirteen missed calls, and messages kept coming in one after another.

Meng Chuan casually opened the voice message sent by Wang Zheng.

"President Meng, we won! We won!"

"It's one minute and thirty seconds now, and our turnover has exceeded one hundred million."

"Mr. Meng, what are you doing? You even turned off your phone. It's already broken 10 billion in five minutes."

"President Meng, we've broken 100 billion in 50 minutes now."

Wang Zheng sent Meng Chuan at least thirty or forty voice messages.

It was almost like giving Meng Chuan a real-time report on Pinduoduo's sales performance during this year's Double Eleven shopping festival.

Pinduoduo was launched this year.

This is also my first time participating in the Double Eleven event.

The achievements we have made today are remarkable.

With a turnover of 100 billion yuan, Pinduoduo is already winning big.

It is foreseeable that Pinduoduo's market value will skyrocket after tonight.

Because this result is already comparable to Taobao's.

If Meng Chuan remembers correctly.

In 2014, Taobao's sales exceeded 1 billion RMB in 3 minutes, 5 billion RMB in 14 minutes, and 10 billion RMB in 38 minutes.

Pinduoduo broke 10 billion yuan in 50 minutes, which is already an incredibly impressive achievement.

It's far ahead of other e-commerce platforms.

"Wang Zheng, what are you doing?"

Meng Chuan called Wang Zheng back.

Meng Chuan is, after all, a shareholder.

It's already excessive that he couldn't attend such an important occasion in person.

If I don't call Wang Zheng back...

Meng Chuan was genuinely afraid that Wang Zheng would fly directly to Shanghai tomorrow to give him a piece of his mind.

"President Meng, you...you really hurt me so much. Even if you were born to a stepmother, you wouldn't be so heartless."

When Wang Zheng received Meng Chuan's call, he immediately burst into tears.

It's fine if Meng Chuan doesn't come.

They even turned off their phones.

He was really sad that he couldn't share such great news with Meng Chuan right away.

"I was busy just now and my phone died, so I didn't notice. I just plugged it in and got your phone back up!"

Meng Chuan said with a smile.

Do you know what our current turnover is?

Wang Zheng asked excitedly.

"I heard your message. Didn't you say it's already broken 10 billion? Not bad. I'll give each of you a big red envelope later."

Meng Chuan said generously.

It's not that Meng Chuan is being generous; it's just that today is a day of double celebration.

He made a fortune in the British stock market and is now rich.

"It's 120 billion, it's already 120 billion. It should go up again tomorrow."

Wang Zheng said excitedly.

It broke 100 billion in just fifty minutes.

It's already 1 a.m., and the turnover is still increasing.

"But Mr. Meng, let me make this clear first! Although our turnover is very high, our subsidies are substantial, so I'm afraid we won't make much profit, and may even have to lose a lot. The 5 billion you gave us before is almost gone."

Wang Zheng said somewhat embarrassedly.

Pinduoduo started with 5 billion yuan, giving it a head start that is at least ten times greater than other e-commerce platforms.

Although Meng Chuan said that he didn't expect him to make money, he just needed to know how to burn money.

In order to implement the "burning money" policy, Wang Zheng used every means possible.

The five billion is almost gone.

“It’s okay, burn as much as you want. I’ll give you another 50 billion later, and you can burn as much as you want, I’ll give you as much as you want.”

Meng Chuan said nonchalantly.

If Meng Chuan remembers correctly, Taobao's total sales on Singles' Day in 2014 reached 571 billion yuan.

The net profit is said to have reached around 28 billion.

Meng Chuan estimates that Pinduoduo's revenue could reach around 300 billion yuan.

But the profit is likely to be a loss of 20 billion.

After all, Pinduoduo now offers genuine subsidies.

There are no tricks or word games involved.

This is one of the main reasons why Pinduoduo has become so popular so quickly.

"Okay, you said it yourself."

Wang Zheng laughed loudly.

Wang Zheng really felt incredibly lucky.

It's good to have a boss like Meng Chuan.

No one else could be as magnanimous as Meng Chuan.

For this reason alone, Meng Chuan is worth risking his life for.

The call with Wang Zheng ended.

Yingdie also came out of the bath.

Meng Chuan quickly washed up and went to sleep.

When Meng Chuan woke up, Ying Die was no longer in the dormitory.

After washing up, Meng Chuan went out to eat something and then returned to his dormitory.

Meng Chuan doesn't plan to go anywhere today.

We're just waiting for the UK stock market to open at 5 p.m.

However, this occurred before the stock market opened, at four o'clock in the afternoon.

Meng Chuan received another call from Ollie:

"Meng Chuan, the meeting is over. The good news is that the result was as you expected. But the bad news is that you're being watched."