The Jin Family announced on Monday, within two hours of the workday, their official contract termination with the Rong Family, accusing them of treachery and immature technology.
The news caused a public uproar.
Investors yelled in outrage as Rong Family's stock price began to plummet. Within less than half a day, the Rong Family was further exposed for financial fraud, with the financial report for the first half of the year falsely inflating revenue by 18 billion RMB. The Rong Family was immediately warned by the regulatory department.
Rong Xian'an, the head of the Rong Family, immediately responded, claiming it was a data entry error by the finance department.
Not explaining was better; once explained, everyone felt their intelligence was insulted.
When the stock market opened on Tuesday, a massive sell-off of Rong Family's stock began. Just at the opening, it hit the limit down continuously by two points.
