My fintech empire.

After seeing the announcement issued by the SGX and Fang Hong’s public criticism of a number of Internet platforms under Qunxing, many people firmly believe that the governance of “stock market essays” will usher in an unprecedented intensity.

Some industrial chains and interest chains that take on "small essays" have also realized that they may not be able to make it in the future and have to find new ways out.

This is an all-round, full-link approach to stock market governance. Fang Hong has already spoken out publicly, and even used it to criticize the Internet platforms under his own galaxy. This basically indicates that these Internet platforms are about to face a large-scale cleanup and rectification of stock market governance.

These Internet platforms in the galaxy are basically the mainstream platforms of the domestic Internet. As long as these platforms are restricted, the influence of stock market essays and their impact on the market will be greatly reduced.

If we want to truly control the stock market, numerous Internet platforms are an indispensable key link. One of the important reasons why the power of small essays can be so great is that they are spread quickly and widely through numerous Internet new media platforms.

One of the platform’s governance measures is to limit its flow.

All the major Internet platforms under Qunxing Group are currently discussing this matter and have decided that all platforms will unanimously implement special flow control on information related to the stock market and finance. For example, self-media, bloggers, etc., as long as they publish information and posts related to the stock market and finance, they will be subject to flow control regardless of whether they are normal or not.

Because financial issues are relatively special and different from other sectors, they must be strictly regulated. This is also done to prevent some self-media from developing in this direction, as it has no future. Ultimately, it is better to leave this sector to professional institutions.

However, it is not a one-size-fits-all approach. Information dissemination media endorsed by authoritative organizations will not be subject to flow restrictions. And even for media endorsed by authoritative organizations, it does not mean that all information will be released. There are also prerequisites, that is, the source of information must be clear. If the published information does not clearly identify the source of the information, it will be downgraded, that is, precise flow restriction.

The announcement released by SGX and Fang Hong's Weibo post this morning commenting on the stock market have received strong support from the majority of investors.

[Many small essays are stirring up trouble in the market, cheating and committing evil, and they should have been severely punished long ago.]
[K God hit the nail on the head, and he is brave enough to criticize himself and not cover up his shortcomings. He doesn’t pamper the platform owned by Qunxing, which is very good and must be praised.]
[Why can a “small essay” affect stock trends? Are we all fools?]
[This is not a question of fools. Even if you can see many loopholes in some essays at a glance and they are obviously false and have been disproven later, why can they still succeed? Because you don’t believe it yourself, but you are worried that others will believe it, and you are worried that some fools will really be fooled. Others are also worried that others will believe it, so they would rather believe it than not believe it, and they will sell it first and run away. This is also the reason why essays are so powerful.]
[It’s a bit like the “prisoner’s dilemma”…]
[The stock market is a market where information and capital converge. The threshold for generating "small essays" is low, and the number is huge. But the strange thing is that although many knowledgeable people have long believed that these psoriasis should be strictly treated, it is not difficult to find that some major media and newspapers such as XXX.com are not known to be lucky or part of the interest chain, or they just do their own thing to gain traffic.]
[The "stock market essays" written by insiders, sources, and celebrities are not just about gaining traffic. There are often interest chains and industrial chains lurking behind them. The false information that looks "positive" is deliberately released to enlighten investors who are unaware of the truth.]
[The SGX market is the real future of the A-share market, no doubt about it! Why are you optimistic about the SGX market? Because they not only talk about it, but also do it, and they don’t delay.]
[Today is July 7, the first day that the new delisting rules of the SGX are officially implemented. It can be seen that the SGX market has made great efforts and done great things in improving the market mechanism, and is improving and clearing a series of obstacles that are not conducive to the healthy and benign development of the market.]
[Since the establishment of SGX, I believe that the stock market will get better and better. Of course, I am talking about SGX...]
……

At this moment, it was only a few minutes until nine o'clock and the SGX market was about to open.

These news that appeared before the market opened, and the SGX's governance of the stock market, won wide support and praise from the market.

If the same thing happened next door, investors would definitely sneer at it, and would even be afraid at the mention of investor protection, because every time the mention of investor protection is mentioned, investors would cry out in pain from losses.

But SGX is different. Investors feel differently from the bottom of their hearts. SGX really does what it says it wants to protect investors.

As nine o'clock arrived, the SGX market officially opened. Today is the first day that the new delisting regulations officially came into effect. The SGX 50 Index opened flat and then fluctuated upward after opening.

到了午后13点左右，新证50指数收复了5400点大关，距离前高4月8日走出的历史高点5554.06点已经近在眼前了。

However, today's popularity ranking of A-shares saw an epic scene of death, which can be called a historical wonder and unprecedented.

Today, the top 15 stocks on the popular A-share stock ranking list have all plummeted by more than 70%. They are the 15 listed companies that were rejected by the SGX market. Today is July 7, the day when the new delisting rules of the SGX are officially implemented.

These 15 listed companies, which were already well-known before, have not signed the supplementary agreement for the new regulations to this day. The SGX has decided to delist these 15 listed companies for not complying with the new regulations.

I have to say that the efficiency of the work is very fast and there is no delay at all. Since they don't want to sign, they will be sent away on the first day when the new regulations come into effect, without any attempt to retain them.

Because these 15 listed companies did not sign the supplementary agreement to the new regulations, and under the principle of non-retroactive law, the new regulations will not be counted as old regulations, so the delisting of these 15 listed companies will not be required to be implemented in accordance with the new regulations.

The reason why these 15 listed companies plummeted so dramatically today is mainly because today is the first trading day of the delisting consolidation period.

According to the trading rules of the delisted stock consolidation period of the SGX market, the trading period of the delisting consolidation period is 15 trading days. On the first trading day of the delisting consolidation period, there is no price limit. On the second day of the delisting consolidation period and thereafter, the price increase or decrease limit is plus or minus 10%.

The 15 listed companies that were confirmed to be delisted today had an epic explosion at the opening and were therefore watched by countless investors. Everyone was searching for these 15 stocks, so their popularity soared, resulting in the top 15 most popular stocks on today's popular stock rankings being these 15 listed companies.

Among them, the first one on the popularity list is Yiou Shares. This stock is the one that has not been ST among the 15 delisted stocks and has the highest market value among the 15 stocks. It is also the worst one. Its market value before the plunge was 42.7 billion. Before that, it fell to the limit for eight consecutive days and was left with less than 19 billion.

At this moment, the intraday decline has plummeted by -18.78%, with only 98.86 billion left. The stock price has dropped from 10.52 yuan to only 0.12 yuan. Only more than 18.78 million are left of the 2140 billion. From 42.7 billion before the explosion to 2140 million now, nearly 42.5 billion in market value has evaporated, and the decline rate has reached -99.49%, which is basically wiped out. A 100 million investment is left with only 5000 yuan, which is basically equal to zero.

The 2.8 investors, whether they were large or small retail investors or public or private equity institutions, all had their funds held in the stock wiped out indiscriminately.

Because this company refused to sign the supplementary agreement to the new regulations, it later suffered an epic disaster. It turned out that all the company's performance was inflated. It was discovered that they had created false performance through supply chain finance and other means. The founder was also exposed to have run away with the profits. The company simply didn't want the company because it had no value anymore.

The new delisting rules of the Singapore Exchange were implemented, and this company refused to sign the supplementary agreement, which led to its bankruptcy being brought forward.

...(End of chapter)