novelonline Chapter 1577 The Crazy Stocks
Chapter 1577 The Crazy Stocks
March 9, 1992, Shenzhen.
Night fell, but the young city did not fall asleep. A restless anticipation filled the air, and everyone's eyes were focused on the same thing—the stock subscription certificates to be issued tomorrow.
At 8:30 p.m., a group of migrant workers suddenly appeared in front of an ICBC branch in Luohu District.
Most of these people were middle-aged men in their forties, dressed in simple white vests and canvas shoes, their skin tanned dark. Without saying a word, they sat down one after another at the entrance of the outlet, their movements perfectly synchronized, as if they were well-trained.
The local residents initially didn't know what it was for.
Some thought they were beggars, some thought they were petitioners, and others thought they were construction workers who had come early to reserve a spot.
"What are you doing so late at night?" A middle-aged woman who had just finished dinner and was out for a stroll asked curiously as she approached.
"Line up to buy the subscription certificate," the migrant worker at the front of the line said without turning his head.
"Subscription certificate? What's that?" The old lady was completely confused.
"We don't know either, someone paid us to come here." The migrant worker smiled and didn't explain further.
As more and more people lined up, the news gradually spread, and many residents began to go home overnight to get their ID cards, preparing to join the queue.
Whether stock warrants can make money or not is a question that anyone who regularly reads the news and newspapers would agree on.
Because Shanghai has already provided the answer.
Just a few months ago, a Shanghai newspaper published an article titled "The Joys and Sorrows of Parting and Reunion: Purchase Certificates," which described the following event:
An elderly woman took the 3000 yuan her children had given her to deposit in the bank. Because she couldn't speak the local dialect clearly, the bank staff mistakenly thought she was buying subscription certificates. By a twist of fate, the elderly woman ended up with 100 subscription certificates.
When the children realize they've made a mistake, it's too late. Although they're very angry, there's nothing they can do.
Unexpectedly, these mistakenly purchased subscription certificates brought the old lady an unexpected profit of over 50 yuan!
50 million!
For an average family, this is an astronomical figure!
The old lady did nothing wrong; she simply "bought the wrong thing."
The news caused a sensation throughout Shanghai.
Countless people flocked to the bank, frantically scrambling for subscription certificates.
Some people regretted not taking action sooner, while others were annoyed that they had underestimated this "little piece of paper".
Many more people are hoping that Shenzhen will also be able to issue subscription certificates.
Now, the opportunity has finally arrived.
The issuance of stock subscription certificates in Shenzhen this time has attracted hot money from all over the country.
Not only locals from Shenzhen, but also countless people from other places rushed over overnight, bringing all their savings, just to get a share of the profits in tomorrow's sale.
After arranging for the migrant workers at the entrance of the outlet, Liu Yuangang didn't even have time to wipe the sweat from his forehead before immediately taking out his mobile phone and dialing Qin Hao's number.
This mobile phone was specially purchased by Qin Hao for the convenience of communication during this operation, costing a full 20,000 yuan.
In this era, a mobile phone was a symbol of status and prestige.
The call took a long time to connect; the network at that time could only be described as garbage.
"Hey, Lao Qin, I've arranged all the workers for my twenty outlets. I'm taking a taxi to Lao Liu's place now." Liu Yuan's voice carried a hint of fatigue, but more so, excitement.
"Okay, thank you for your hard work." Qin Hao's voice was steady and strong: "I just confirmed with Lao Xu and the others. Keep a close eye on things on your end too. Be prepared to stay up all night tonight. Make sure they are at the top of the list and don't let anything go wrong."
"Yeah, don't worry, when have I ever let you down in a crucial moment?" Liu Yuan patted his chest and assured him.
Qin Hao hung up the phone with a smile.
As long as Liu Yuan doesn't run into that Han Ling incident, he's usually quite reliable.
For the past six months, Liu Yuan has followed him around, from Beijing to Shenzhen, and his progress from knowing nothing to being able to handle things independently is clearly visible.
The reason Qin Hao entrusted Liu Yuan with the responsibility of managing a portion of the migrant workers was also to test Liu Yuan's competence.
Qin Hao didn't rest all night.
He drove around to all the branches in Shenzhen to ensure everything was in order.
With over 300 outlets distributed throughout Shenzhen, fortunately, Shenzhen was not yet very large at that time, and the development was mainly centered around Luohu.
Qin Hao checked each one individually, inquiring about the arrival of migrant workers and inspecting the preparations at the service points to ensure nothing was overlooked.
In order to reap the benefits of these stock subscription warrants, Qin Hao invested a lot of money and effort.
The cost of hiring migrant workers alone, at 80 yuan per day, was 160,000 yuan.
Adding the cost of purchasing subscription certificates, which is 100 yuan per certificate and 10 certificates can be purchased per person, the total comes to 200 million yuan.
All the money I made from reselling hardware over the past six months has been poured into this investment.
If successful, it will soar to new heights.
If we fail, we'll be back to square one.
Qin Hao slowly closed his eyes, taking a nap before dawn.
It was still dark on August 10th.
Long queues had already formed outside various bank branches in Shenzhen.
Those who arrived last night, filled with dreams of getting rich overnight, excitedly came to the entrance of the branch, ready to snap up stock subscription certificates.
However, when they saw what was in front of them, they were all dumbfounded.
Long queues had already formed in front of the branch, stretching as far as the eye could see!
When did these people arrive? How come they arrived even earlier than them?
Upon closer inspection, most of these "citizens" queuing up were dressed simply and had dark skin. At first, everyone thought they were workers from a nearby construction site who had taken up the space to sleep. Later, they realized that these people were hired specifically to queue up!
They sat at the entrance of the branch all night long, without leaving for a single moment!
"What the hell?" a middle-aged man who had come all the way from Guangzhou asked anxiously. "It's only a few o'clock, how come there are already so many people in front of us?"
"Well, there's nothing we can do about it. We arrived earlier than you," said one of the migrant workers at the front of the line without turning his head.
Similar scenes are playing out at every branch in Shenzhen.
At the entrance of the Industrial and Commercial Bank of China (ICBC) branch in Luohu District, the queue stretched three blocks away from the bank, winding like a long dragon. Even standing on tiptoe, those at the end of the line couldn't see the end, and some were already considering trying their luck at another branch.
The situation was even more extreme at the China Construction Bank branch in Futian District. The crowds were so large that they completely blocked the road, making it impossible for cars to pass. Traffic police had to intervene to manage the traffic, resulting in a chaotic scene.
At the entrance of the Agricultural Bank of China, a large crowd surged, nearly causing a stampede. Bank staff had to open half an hour earlier, but even then, the counters were still packed with people.
The most outrageous incident occurred at a Bank of China branch. Due to the overwhelming number of people, the bank had to call riot police to maintain order. Some people in the queue collapsed from exhaustion, and others got into fights over cutting in line. The entire scene resembled a battlefield without gunfire.
The whole of Shenzhen was in an uproar.
On the streets and in the alleys, during leisure time, everyone is talking about the same thing: stock subscription certificates.
"I've heard that there are plenty of people in Shanghai who have made hundreds of thousands of yuan from subscription certificates!"
"My friend's classmate bought a hundred tickets in one go, and now he's worth over a million!"
"Really? That thing can make that much money?"
"Nonsense, it's already been verified in Shanghai, how could it be fake? Hurry up and get in line, or it'll be gone!"
At 9:00 a.m. sharp, all branches opened on time.
The queue of people surged toward the window like a floodgate had been opened.
Give me ten!
"I want ten too!"
"Don't push! Everyone, don't push!"
The scene was chaotic at one point.
Fortunately, the bank had made preparations in advance and deployed a large number of additional staff to maintain order, so no major chaos occurred.
Standing at the entrance of the branch in Luohu District, Liu Yuan looked at the frenzied crowd and felt a mix of emotions.
He recalled that a month ago, he had asked Qin Hao if he was worried about losing money.
Now it seems I was worrying too much.
Qin Hao's judgment was indeed far superior to his.
Around noon, all the outlets closed for the day.
……
In an office building in Luohu District, boxes of purchase certificates were piled up on the table, forming a small mountain.
"How...how many is this?" Liu Yuan's eyes widened.
"Twenty thousand tickets." Qin Hao's voice came from behind: "Each ticket has a number, and each ticket corresponds to one chance of winning."
Liu Yuan swallowed hard, looking at the "small mountain" on the table, as if he could see countless banknotes beckoning to him.
“Just this little piece of paper,” Liu Yuan said with a sigh, “is being bought for 500 yuan a piece right now. That means we can make five times the profit just by reselling it without doing anything. It’s even faster than robbing people!”
Qin Hao joked, "Who was worried about losing money before?"
Liu Yuan scratched his head awkwardly and smiled sheepishly.
"Old Qin, are you planning to sell these stock subscription certificates or wait for the lottery?" Liu Yuan asked, voicing his doubts.
Qin Hao pondered for a moment and said, "Let's sell half of them. We don't have enough funds on hand, and even if we win the lottery, we can't buy them all."
He shook his head with some regret.
Each successful subscription certificate allows the purchase of 30 new shares. In 1992, the Shenzhen Stock Exchange only had a handful of stocks, leaving investors with virtually no choice.
But precisely because of this, any stock that can be listed will see at least a tenfold increase on the day of listing, and if held for a period of time, it can even achieve a return of 3000%.
This was the madness of the stock market in 1992!
But no matter how large the profit, it's all for nothing if there's no capital to realize it.
Therefore, selling half is the safest option.
Soon, Qin Hao sold 10,000 subscription certificates for 800 yuan each, making a profit of 8 million yuan.
After deducting purchase costs and various expenses, the net profit reached over 600 million!
The remaining 10,000 subscription certificates were then allocated through a lottery.
The lottery results were announced on August 20th.
Liu Yuan had been waiting in the lobby of the stock exchange for a long time, his eyes fixed on the large screen on the wall.
The area was packed with people, and everyone's face was filled with tension and anticipation.
The lottery results are about to be announced, and they will determine the fate of countless people.
The screen began scrolling through the winning lottery numbers, with strings of numbers flashing by.
Liu Yuan's heart was in his throat, and his hands were clenched into fists.
Old Qin said they had 10,000 subscription certificates, and with a 10% success rate, they should be able to win around 1,000.
But what if the odds of winning the lottery aren't as high as expected?
What if they're unlucky?
Time ticked by, and Liu Yuan felt his heart was about to leap out of his chest.
Finally, the number he had been waiting for appeared on the screen—
Of the 10,000 subscription certificates Qin Hao held, 2100 were successfully allocated in the lottery!
A total of 2100 subscription certificates were successfully won!
This means Qin Hao can buy 63000 new shares!
Based on the post-listing price increase, this would be an astronomical figure!
Liu Yuan rushed out of the stock exchange immediately, found a quiet corner, took out his mobile phone, and dialed Qin Hao's number.
"Old Qin! The lottery results are in!" Liu Yuan's voice trembled: "We won 2,100 tickets!"
On the other end of the phone, Qin Hao was silent for a moment, then let out a soft laugh.
"I see."
"Old Qin, how much money will this make?" Liu Yuan asked eagerly.
"Just you wait and see," Qin Hao said. "You'll find out when the new shares are listed."
The Shenzhen Stock Exchange officially opened on September 1.
Ten new stocks were listed and traded on this day.
Because the stock market in 1992 was still in the exploratory stage and there were no limits on price increases or decreases, as long as someone was willing to pay a high price, the price could rise many times over.
Liu Yuan stood in the lobby of the stock exchange, staring wide-eyed at the constantly changing numbers on the large screen.
The opening price of new shares is already several times higher than the issue price, and the increase is getting bigger and bigger as trading progresses.
One time, two times, five times, ten times...
Ultimately, most of the newly listed stocks saw their share prices rise by more than 13 times on their first day of trading!
Yes, it's that crazy.
Everyone in the exchange was envious.
"How much money... how much money is this going to make?" Liu Yuan muttered to himself, completely dumbfounded.
He originally thought the profits from stock warrants were already high enough.
But now it seems I was just a frog in a well!
A subscription certificate with a face value of 100 yuan, after winning the lottery, can buy stocks that increase 13 times on the first day of listing!
If calculated according to this ratio...
Liu Yuanfei quickly took out a calculator and did the calculation.
The cost of 10,000 subscription certificates is 1 million, and the 2100 successful bidders can purchase 63000 new shares.
Based on an average increase of 13 times, the value of these 63000 shares has soared to over 6000 million!
The initial cost of purchasing these stocks was less than 200 million!
The profit was over 50 million!
A return of twenty-five times!
After Liu Yuan finished calculating, he was completely stunned.
Fifty million.
He never dared to dream of such a number.
And all of this was brought about by Qin Hao.
He suddenly remembered what Qin Hao had once said: "You should go out and explore when you're young, so you won't have any regrets when you're old."
Now he finally understands.
If it weren't for Qin Hao, he might still be hiding in some remote corner, living a miserable life on a meager salary.
And now, he is about to witness a feast of wealth.
"Old Qin," Liu Yuan's voice was a little hoarse, "Fifty million...you really made fifty million?"
On the other end of the phone, Qin Hao's voice was calm as still water: "Before the stock is sold, it's just a number on paper, and I don't plan to sell it for the time being. I'll hold it for a while longer and make a move before the next new stock issuance. I should be able to get 60 million by then."
Sixty million!
Liu Yuan was completely speechless. Why did Qin Hao sound like he was talking about 60 million as if it were 6,000? Is this the difference between people?
Qin Hao smiled and hung up the phone, then stood up and walked to the window.
Outside the window, the sky over Shenzhen is a clear blue.
The summer of 1992 was a moment that changed the fate of countless people.
……
A month later, Qin Hao began to gradually monetize his assets.
Because the amount is too large, it is impossible to sell it all at once. We can only sell it in batches and gradually cash out.
Fortunately, the stock price remained strong, and even rose slightly, giving Qin Hao enough time to make a profit.
However, Qin Hao did not sell all his stocks; he only sold half of them. Even so, the balance in his account had already exceeded 30 million.
Adding the eight million yuan he received from selling ten thousand subscription certificates, as well as the profits from Zhongguancun Yellow Pages, his net worth has exceeded sixty million yuan.
In 1992, his net worth was 60 million.
This number is extremely rare, even nationwide.
Qin Hao, on the other hand, had just graduated from university.
Standing at the entrance of the stock exchange, Liu Yuan stared at the numbers in his account, feeling somewhat dazed.
He had been working with Qin Hao for more than half a year, and although he wasn't a shareholder, Qin Hao had already given him hundreds of thousands in dividends.
Hundreds of thousands!
This number was something he never dared to dream of before!
"Old Qin," Liu Yuan couldn't help but ask, "What do we do next?"
Qin Hao stretched and said, "Alright, go back now. You've worked hard these past few days. I'll give you a two-week break. You didn't even get to spend the New Year properly at home this year. Go back and spend some time with your parents."
Upon hearing this, Liu Yuan couldn't help but ask in confusion, "And what about you?"
Qin Hao smiled and said, "Me? I'll go back to Beijing and take a look. I've been focusing my energy on Shenzhen lately, and I still can't completely let go of Zhongguancun."
Liu Yuan couldn't help but wonder why Qin Hao would bother running back and forth between Zhongguancun, where the monthly profit, after deducting all expenses, was only a few hundred thousand yuan, far less than that in Shenzhen.
However, Liu Yuan quickly shook his head with a self-deprecating smile.
Earning over 100,000 yuan a month was a number he could never have dreamed of before.
Now, after following Qin Hao for half a year and earning hundreds of thousands, he doesn't even care about it anymore.
Am I getting too arrogant?
“Let’s go together then,” Liu Yuan said. “Anyway, we have to transfer in Beijing to get back to Lushun.”
“Okay.” Qin Hao nodded. “Then let’s go to Chung Ying Street first to buy some things to take back to your parents, so they can have some fun too.”
Chung Ying Street is a street on the border between Shenzhen and Hong Kong, and is famous for its unique "one street, two systems" landscape.
Here you can buy all kinds of duty-free goods from Hong Kong and even the world, and the prices are much cheaper than on the mainland.
Liu Yuan teased, "And what about you? You brought it for Sun Yumei, right?"
Qin Hao laughed and scolded, "When did you become so gossipy?"
Liu Yuan chuckled, not afraid of angering Qin Hao.
Having followed Qin Hao for so long, he had long since figured out Qin Hao's temperament.
He may appear serious on the surface, but he is actually very easy to talk to.
As long as you don't make any fundamental mistakes, joking around is perfectly fine.
The two packed their things and left the stock exchange.
The streets of Shenzhen remain bustling, neon lights flashing, and traffic flowing like a river. (End of Chapter)