My autobiography is definitely not a tragedy!
Chapter 299 - 205: Above

Chapter 299: Chapter 205: Above

"Where did you hear the news from, Uncle?"

"Jingsong, there’s no fun in playing dumb. The high levels of the company have practically spread it everywhere, I’m not deaf.

Not to mention internal staff, our old rivals outside are also spreading it, just waiting to see a joke out of Xu Group!"

"Right, Mr. Xu, it’s not just us directors who are anxious, rumors have been flying these last few days.

If we don’t clarify things, our Group’s reputation could be damaged."

"Exactly, we’re just trying to figure out what’s actually going on,"

added several other directors who stood up.

All present had a stake in the outcome, they might not care who the CEO is.

What concerned them was whether their annual bonuses would be affected...

Xu Jingsong took a deep look at Xu Bolin before speaking.

"I can tell you all very clearly, everything that’s being said outside—those are rumors!"

"Oh? So the talk about funds being tied up, that’s all fake, huh?" Xu Bolin feigned a sigh of relief.

Xu Jingsong’s expression froze.

"Investment carries risks; this is something we all know. A couple of sharp drops and people start yelling about being trapped, does that mean the investment department shouldn’t do their job?

I assure you all, the Group’s capital flow is very healthy.

Even if there’s a temporary paper loss in the investment department, it is just that—temporary.

We still have at least over ten billion in funds on our books, that’s indisputable.

With the Xu family’s credibility, if necessary, I could swiftly raise a few tens of billions more from various financial platforms..."

Xu Jingsong paused.

"As for the Qinling Mountains area... indeed, we have a subsidiary company managing a tourism development project there.

But to my knowledge, they have always operated legally and in compliance. As for the specifics, I’m sending people to verify the situation, which will take some time."

Xu Jingsong cleverly skirted around the weightier issues.

I’m caught up, sure, but I haven’t cut my losses yet, can that be called a loss? That’s a paper loss!

Perhaps the project is facing problems, but it might be due to the subsidiary acting without authorization, deceiving both the top and bottom, right?

While exonerating himself, he also avoided making any definitive statements, essentially leaving a way out for himself.

His goal was simple...

The truth hasn’t been investigated yet, and they’re accusing me now? Isn’t it a bit early?

In a word, the strategy is to delay!

Delay until these two issues blow over, delay until he can minimize the negative impact they’ve brought, one by one!

"Gentlemen, anyone with clear eyes can see that those outside rumors are aimed at our Xu Group!

It’s quite normal for the Xu family to attract attention, given our growth these past years.

But we must not allow chaos within.

As long as we don’t falter, these rumors and slanders will amount to nothing more than petty tricks.

You here are all my elders; my capabilities are there for all to see.

I hope that you, my elders, can give me some time and not be swayed by those outside rumor-mongers.

Otherwise, it really would be a case of ’the loved one hurts, the enemy rejoices’!"

"Hmm!"

His words, both emotional and logical, convinced the attending directors to nod in agreement.

However, Xu Bolin naturally wouldn’t let him just get away with his Spring and Autumn brushstrokes.

"Jingsong, what you say makes sense, but a paper loss? How much exactly has been lost?"

He posed as if he was only concerned about his money.

Xu Jingsong: "..."

Nine billion in funds, two consecutive limit-downs, just in these few days, the paper loss amounted to more than one hundred and seventy million...

However, facing everyone’s gaze, all he could do was bite the bullet and say,

"Well... roughly, a little over a billion..."

"Hmm..."

The directors, though they found a loss of over a billion quite severe,

considered it not too damaging for the large-scale Xu Group.

"How come I heard that the stock the Group bought is related to the company involved in the widely publicized vaccine incident?

Jingsong, it’s not that I’m gossiping.

The main issue is, people outside are still spreading rumors that this stock is very likely to be delisted forcibly?"

"What?" A chorus of gasps sounded from the attendees.

If what Xu Bolin said was true, wasn’t this more than just a loss of a billion? It was about whether they could even salvage a billion!

The whole nine billion could be gone!

"Mr. Xu, is this true?" the directors quickly inquired.

Xu Jingsong’s mouth twitched, his eyes ablaze.

It seems this old guy isn’t planning to let me off the hook today!

"Well... although the current situation doesn’t look very promising, it’s still too early to talk about delisting. We’re doing our utmost to remediate and minimize the losses for the Group."

So, that’s a confirmation?

The atmosphere at the board meeting instantly became awkward, with many starting to whisper among themselves.

With the real estate market performing well these past two years, Xu Group’s annual profits were just over a hundred billion; losing nine billion at once was certainly starting to hurt.

"Ah, Jingsong, I don’t mean to criticize you, but isn’t your investment strategy a bit too aggressive?

We’re a large Group, not individual stock traders; don’t we do basic risk management?

How can we place such a heavy bet on a single stock?"

Since Xu Bolin was prepared to compete for the CEO position, he knew there was no turning back once the arrow was shot, and his tone was far from polite.

He was outright chastising his younger relative, striking at his prestige.

Seeing Xu Jingsong’s displeased face, Cui Jizhong quickly stepped in to take the blame.

"Chairman Xu, it’s my fault, I haven’t done well as the CFO, and there are also issues with the investment department’s market research..."