169 You should thank me (2/2)

But at the time, Future Technology began making its moves.

First, Future Technology published a statement on its official site to directly respond to the public opinion and condemn the majority shareholders Ling Zhongtian's illegal action against Future Technology, and officially sent the lawyer letter to Ling Zhongtian.

Was Future Technology prepared to sue Lingyu Technology? Regardless of the result of the lawsuit, investors were hopeless with Lingyu Technology's future.

The next day, Lingyu Technology once again triggered the circuit breaker. Four days later, Lingyu Technology ended the week with 980 million market cap. Within four short days, Lingyu Technology lost the value of a building. To avoid triggering the clause, Ling Zhongtian had to increase the pledged asset, this time it was 33% of his share.

He had no other choice, if he didn't pledge in more asset, the company would be forced to go into Chapter 11 bankruptcy. When that happens, not only will he lose everything, he will also have to carry a debt of 300 million.

The about to be completed Lingyu building costed 870 million and it was built with debt. The new game development and promotion had eaten away most of the profit, from the current status quo, the investments were unrecoverable.

The lawyer letter was like declaring war. It only ignited the prelude to the battle.

When Lingyu Technology broke the record for the highest monthly decrease, Future Technology's president began to increase Lingyu Technology's share on the secondary market and became the biggest shareholder at 37%. Because it was not disclosed, Jiang Chen was fined 600 thousand by the security commission for an illegal transaction.

But comparable to the profit he gained by shorting Lingyu Technology, the punishment was pocket change to Jiang Chen.

Lingyu Technology ultimately changed hand.

...

Lingyu Technology building had yet to finish the renovation, but under the demand of the new president, they organized a conference room with a row of table and chairs.

Also based on the demand of the new president, a special shareholder meeting was announced.

As to the identity of the new president, it was obviously Jiang Chen.

Every shareholder's face was gloom... No, to be more precise, other than the people sitting at the end of the table, everyone's face was gloom.

Jiang Chen leaned against the chair as he scanned all the shareholders present. Other than the Ling Zhongtian with white hair, he was surprised to find someone he knew.

Sensing Jiang Chen's sight, Zhang Jianfeng smiled friendly at him.

[Why is he here?]

Jiang Chen still had some impression with Zhang Jianfeng. He represented 361 Corporation before during the negotiation with Future Technology. Although nothing came to fruition, in the end, Jiang Chen had high praises regarding this talent.

361 Corporation want to be involved in this?

Jiang Chen muttered in his mind, but his expression didn't change in the slightest. He still maintained the bright smile and started speaking.

”Everyone, I think you should all thank me.”

[Thank your mom!]

All the shareholders cursed in their mind, but no one dared to speak out loud. As to why-

”If it wasn't for me to increase the holding of your company's share which halted the plunge of Lingyu Technology's share price, the share in your hands would be scrap paper.” Jiang Chen shrugged.

Ling Zhongtian slowly looked over, the aged face no longer resembled this once proud prodigy. He once made his goal to become the Steve Jobs of mobile games, but in those blurred eyes, there was only a deep weariness left.

”To be the meat on someone's chopping board is to be at someone's mercy.” The cracked lips opened and squeezed a sentence full of hatred.

”If you knew today would happen, why did you do it.” Jiang Chen directly responded.

Ling Zhongtian was out of words and didn't say anything else, he just stared at the document on the table and blanked out.

<Lingyu Technology Asset Restructure Proposal>

”Ahem, based on the current performance of the company, as the President, I think I should do something,” he paused, Jiang Chen looked at the crowd holding their breath, a faint smile flashed across his face. But then the following sentence he said made every shareholder's mood plunge into the abyss.

”That's right. We are planning to initiate asset restructure... So first, I plan to sell the building-”

Who to sell it to? Is that even a question?

Left hand to right hand, Future Technology needed a headquarter fitting for its name.

Translator's Thoughts

_Min_

Good news! Now that we have a few more editors coming on board, we can get more chapters out! Woohoo! There is another one coming a few hours.