Chapter 151: Orders Changed Overnight

Words : 1931 Updated : Sep 17th, 2025

In October 1987, the United States stock market experienced the largest crash in history, with the Dow Jones Index dropping by -22.6% in a single day. Due to the lack of a circuit breaker mechanism and limits on price fluctuations, many millionaires became poor overnight. This day was also known in the financial world as "Black Monday." In October 1988, the US stock trading commission approved the circuit breaker mechanism. When the index fell by 7% within a short time, all markets would suspend trading for fifteen minutes. It took nine whole years until October 1997 for the US stock market's circuit breaker mechanism to be triggered for the first time. The US stocks needed time to test the feasibility of circuit breakers, but Big A emphasizes efficiency, with two circuit breakers in four days, four triggers, and a thousand stocks hitting the limit—twice. A new level above the old, indeed. "I guess Big A's spectacle is unprecedented and likely unrivalled in the future," Lu Liang marveled and quietly enjoyed the spectacle online, chuckling several times at the endless stream of satirical jokes. This generation of netizens is truly talented. Even though his backstage was nearly blown up with notifications, he just didn't come out to respond. He dared to swear to the heavens that the clearing of positions and dividend distribution was purely coincidental, but nobody listened. One by one, they indulged in conspiracy theories, claiming his liquidation was a silent criticism of the circuit breaker mechanism. Any explanation would seem like a cover-up, so it was better to say nothing. Approaching noon, Zhao Jisheng from the Securities and Futures Commission called with a very humble attitude, "Mr. Lu, do you have time? Our boss would like to talk to you and hear your opinion." Lu Liang gave a wry smile. Clearly, the other party also thought he had liquidated his positions because he did not favor the circuit breaker; he just wasn't sure if the call was to ask for accountability. "I have time now." He pondered for a moment, nodded in agreement, and Zhao hurriedly said, "Then please wait, I'll let our boss listen in." After a few seconds, an apparently tired male voice took the call and got straight to the point, "Mr. Lu, hello, is the circuit breaker mechanism really not adapted to our stock market?" "Mr. Xiao, the Commission's intention is good. A circuit breaker can provide investors a chance to think calmly and avoid irrational investment decisions under panic." "But some mechanisms are only suitable for US stocks. We have a limitation on price fluctuation range; implementing another circuit breaker may be a bit redundant." Lu Liang spoke with confidence, although he did not know if introducing a circuit breaker was beneficial or detrimental to Big A. However, based on the market's performance, it seemed to be detrimental. The past few days' events hadn't been in vain; he was able to cite a few examples and analyze with the benefit of hindsight. Regardless of whether his points were reasonable, the current outcome had already proved that the circuit breaker mechanism was indeed not suitable for the Big A market. Old Xiao fell silent for a long time, then sighed, "Mr. Lu, I understand. Thank you, but please don't lose faith in the domestic market." Lu Liang felt helpless but could only respond earnestly, "Mr. Xiao, you worry too much. We are very optimistic about the domestic market; we are just making a temporary technical adjustment." Even the head of the Commission said so. He guessed that until the Old England referendum was over, he would have to carry this burden. In the evening, the Securities and Futures Commission held a press conference. To maintain market stability, they would suspend the circuit breaker mechanism starting from January 8th. The spokesperson stated that the two actual circuit breakers failed to achieve the expected effect; the mechanism had certain "magnetic appeal," so weighing the pros and cons, the negative impact outweighed the positive. Therefore, to maintain market stability, it was decided to suspend the circuit breaker mechanism. The next day, Lu Liang received news that Old Xiao was processing his resignation papers and applying for early retirement. A new policy had existed for seven days, was specifically implemented for four days, yet resulted in a tragedy of a thousand stocks hitting the stop limit—twice. Big A had become an international financial joke, and someone had to take responsibility. "Big A is heading downhill." Lu Liang muttered, a thousand stocks hitting the stop limit—twice—was a minor issue, but the blow to public credibility was significant. Although the problem was quickly corrected, the impact was profound. If the follow-up was not handled well, Big A would slowly decline. After all, who would dare to invest long-term in a market that changes orders overnight? Approaching nine o'clock, The first trading day after the cancellation of the circuit breaker mechanism. Lu Liang went to the adjacent trading room, planning to use 30 billion RMB to bottom-fish new energy constituent stocks, as well as various blue-chip stocks. 11 billion US dollars, more than 70 billion RMB, lying in the account wasn't earning any money, and the referendum was still over a month away. Investing in bottom-fishing Big A now, with a short-term strategy for a month, was definitely not a loss, just a question of how much would be earned. Not just he had this idea, institutions, speculative funds, and even retail investors, for the first time had a unanimously similar thought. The Shanghai Stock Exchange Index had a trading volume of 77.2 billion just one minute after opening, with a sea of rising stocks and over 200 hitting the daily limit. Looking around, a sea of red as if Monday and Thursday, with four days and two circuit breakers, with a thousand stocks hitting the stop limit—twice—was nothing but a dream. "From today, there are 20 trading days until the Spring Festival holiday, starting from the last five working days." Lu Liang pondered for a moment, then assigned the next tasks to Sun Yutao and Zhang Jing. Once this was done, it would be the 26th day of the twelfth lunar month. On the 27th and 28th we'll tally everything up, and then organize a year-end feast for all the employees. On the 29th, the New Year's Eve, we'll start the holiday. When we return on the sixth day of the new year, that is, February 13th, we can start preparing to short the British Pounds. Lu Liang stepped out of the trading room and entered Tang Caide's office to inquire about the charity project and the annual event plans. He subscribed to five shares in the second phase of the private equity fund, totaling 120 million US Dollars, and he still had 32.6 million US Dollars in his account. Since he had also made commercial investments, the funds were always kept in the company's account, and it wasn't yet time for settlement and taxation. "Forget about the Red Cross project, see if there are any more reliable ones." Lu Liang planned to allocate 50 million for charity, but he really couldn't trust that bunch at the Red Cross. Each of them driving BMWs, Mercedes, and keeping mistresses—of the 50 million given to them, who knows if even 500,000 would actually be used meaningfully. Although it was for tax deduction, Lu Liang still hoped that the funds would go where they were supposed to, helping those who needed help. Tang Caide also detested those feasting idlers with no real responsibilities. Suddenly, she had an idea, "Mr. Lu, take a look at this One Egg Per Child project." Initiated by the singing artist Cao Yi, the 100 Cities Charity Concert was held every few years to help impoverished children in mountainous areas have one egg a day. Since its launch, the project received strong support from eight major ministries including civil affairs, agriculture, technology, and commerce. "If you think it's good, go have a look." After reading it, Lu Liang fully authorized Tang Caide to inspect the project while he looked at the next document about the arrangements for the annual event. The company had a total of 85 employees. Aside from the fixed year-end bonuses, it was planned to allocate 2.3 million for the activity expenses. The venue cost was estimated at 300,000, leaving 2 million for prizes and bonuses, with the smallest Sunlight Award at 3,888. An Apple phone was only a third-level prize, the second-level prize was a laptop worth tens of thousands, and the first-level prize was three BMW 3 Series cars. S~eaʀᴄh the NovelFire.net* website on Google to access chapters of novels early and in the highest quality. Initially, the total budget for the prizes was only 1 million, but Lu Liang felt it was too little and doubled it. "Let's leave it at that for now." Lu Liang was not quite satisfied, feeling it was still not enough, but with few employees in the company, the 2 million average out to more than 20,000 per person. In the evening, Little Wang returned from Star City. Hellos Goddess ended successfully, with Panda firmly occupying the third spot in the live-streaming industry. Top-tier venture capital firms like Redwood, Goldman Sachs, and Gaoling successively raised the company's valuation from 150 million to 270 million US Dollars. This investment of 35 million in the variety show led to an increase in Panda's value by more than 20 times. "Old Lu, it seems I still hold 72.25% of the shares," Little Wang said, beaming with joy. Just with Panda, he had an increase in personal wealth of 1.2 billion RMB. He felt he could speak a little louder in the future. "I have over 7 billion in cash on hand, so just tell me what you want to do," Lu Liang's tone was very calm. In front of others, acting a bit is fine, but daring to put on airs in front of him, he could smash him with money. Moreover, Panda was still operating at a loss, with a net loss of 35 million last year, and profitability was a distant prospect. Valuations are illusory, if something goes wrong, it could be wiped out in an instant, which is common enough. "Can't you stop being so discouraging?" Little Wang looked indignant. Even a company like Wanda might not be able to come up with 7 billion in cash. "You're asking for it, you can't blame anyone else," Lu Liang packed up his things, ready to leave work. "How about a drink at Zhuang's place tonight?" Little Wang hurriedly said. For the sake of the show, he hadn't been to the bar in two months and longed for the glitzy nightlife. "Not interested." Lu Liang shook his head, walked to the door, and suddenly stopped: "If you really care about Panda, I suggest you go less often too." Little Wang looked displeased, "Since when did you become so old-fashioned?" "It's not being old-fashioned, it's just that you don't have the capability yet to go against the trend and stand out." Lu Liang smiled, said no more. If it were him, maybe, but Little Wang still had a long way to go. Constantly hanging out in bars made it hard to believe he could manage a company well.

Chapter 151: Orders Changed Overnight

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