Monday, June 13, opened with 12 of the 13 Tangshan stocks trading lower than Friday’s close. It is seen as investors’ reaction to a brutal attack on a Chinese woman by a group of men at a barbecue restaurant in Tangshan last Friday.

Among the stocks heading south, Zhonghong Pulin Medical decreased by 1.79%, Tangshan Port reduced by 1.48%, Jidong Cement slipped by 0.85%, and Jidong Equipment was down by 0.64%.

According to a spokesperson from Tangshan Port, “The company is operating normally, and it is unclear why the stock price opened lower.”

However, there are many negative comments such as calling the company “Barbecue Port,” “Beat people, price down,” “In future, nobody buys Hebei’s stock,” and “Do not touch enterprises in Hebei, there will be no good.” Many investors expressed their anger at this incident. They are concerned about the investment environment in Tangshan. They believe that business risks are intensified and that Tangshan is chaotic; they lose confidence in investment, buying property, or even traveling to this area. 

Right after the assault on Friday, June 10, an investor left a message on the Jidong Cement stock page, “Close the position on Monday, and will not buy Tangshan stocks from now on!.” Others added, “Let’s see if there are any subsidiaries that do barbecues,” and, “I have an ominous feeling that Monday will be difficult…”

Similar comments for Jidong Equipment, “Tangshan is coming, but it doesn’t seem to be very glorious,” followed by a thread, “It’s time to test human nature.”

“There are 8 companies with a market value of over 10 billion in Tangshan, which is not a small proportion, and some companies have the concept of state-owned enterprise reform.” Jiangsu, an officer at a private equity fund, said, “The impact of the beating in Tangshan is indeed very bad, and it will also have a certain negative impact on the local business environment.” But, he added,” I hope Tangshan’s Stocks don’t suffer from the beatings.”

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