When Huishan Dairy’s shares fell 90 per cent without warning last month, it was a heart-in-the-mouth moment for shareholders in the Hong Kong-listed company. That applies especially to its chairman, Yang Kai: he was witnessing the evaporation of $3.1bn of loan collateral, putting his control of the group in doubt.
當輝山乳業(Huishan Dairy)股票上月毫無預兆地下跌90%時，這家香港上市公司股東的心臟提到了嗓子眼。輝山董事局主席楊凱尤其如此，那一刻他目睹31億美元貸款質押品蒸發，這讓他對該集團的控制能力遭到質疑。
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