Chapter 331: Feast of Wealth

Haidong City. Wanguo Hotel. read

The hotel that Tang Sui found has a very grand layout and can be considered a good five-star hotel at the moment.

After all, there is the stock exchange across the street, so it is natural that the pomp should be sufficient.

Li Yi and Tang Sui each opened a single room. The so-called single rooms are not ordinary small rooms. The single rooms here are small suites with one bedroom, one living room and one bathroom, and the cost per day is as high as 100 yuan.

Don't underestimate this one hundred yuan. Many state-owned enterprise employees only earn this much in one month.

This is still in cities and towns. If it were placed in rural areas, people in many places might not be able to save so much money after working hard for a year.

"Mr. Li, I still advise you to be cautious and calm when it comes to purchasing subscription certificates!"

Then Tang Sui continued: "And you don't have a local Haidong resident ID card. Only locals can buy this subscription certificate. Have you considered this issue?"

Li Yi nodded with a smile and said, "Don't worry, I'm measured!"

"What about you? Such a good opportunity is right in front of you, don't you want to try it?"

Tang Sui slowly shook his head and closed the door without any intention of explaining.

Li Yi shrugged his shoulders and said nothing more.

The time for the subscription certificates to be sold is coming soon, and Li Yi must sort out all the information in his mind to avoid missing any important details.

…

A speechless night!

Early the next morning, Li Yi opened the door to his room, dressed neatly and walked out.

He knocked on the door of Tang Sui's room, but there was no response. Tang Sui was not in the room, and he didn't know where he went.

Li Yi was also helpless and simply went to the stock exchange by himself.

There are more than 400 sales outlets in Haidong City. As long as you have thirty yuan and an ID card of a local resident of Haidong City, you can buy a stock subscription certificate!

It may sound unbelievable, but in fact this is the case.

All problems arise in the psychology of citizens. Many people do not believe that wealth certificates can make money and think they are a scam. The sales of subscription certificates in the early stage are so miserable that there is no way.

Of course, the early publicity of this subscription certificate has something to do with it!

Before 1992, Haidong tried various methods for issuing new shares. In the early days, as long as you queued up and paid, you could buy the shares directly.

In an era when there was generally little awareness of stocks, there were even bonus issuances to encourage people to buy stocks.

Do you think it’s strange that there are so many bells and whistles involved in buying stocks? Are you surprised or surprised?

Later, when stocks became popular, I queued up to get lottery numbers, then the numbers were drawn, and I paid to buy stocks based on the winning numbers.

In December 1991, Haidong City also tried three large securities companies to jointly rent more than 20 sports venues in the city, issue subscription certificates for various stocks at the same time within a specified time, and then draw numbers, and the winners would arrive separately with their winning numbers. Various stock underwriters paid to buy stocks. The amount of staff and material resources used was unprecedented in the history of Shanghai stock issuance.

In order to ensure the safety of the issuance, almost all the police forces in Shanghai were mobilized, but there were still chaotic scenes in which the gates of venues such as Jiangwan Stadium and Xuhui Swimming Pool were broken through by a crazy flow of people, causing many people to be trampled and injured.

To this end, the Haidong Branch of the People's Bank of China asked three securities companies, Shenyin, Wanguo, and Haitong, to design better stock issuance methods.

These securities companies organized dedicated personnel to rack their brains and came up with many plans. Finally, based on the advantages of many plans, the issuance method of 30 yuan a subscription certificate was formed in 1992.

Subscription certificates are issued in unlimited quantities to Shanghai citizens. They are issued once and are valid throughout the year. They are drawn in multiple draws. You can subscribe for stocks with the winning number. One subscription certificate can win the lottery repeatedly.

The subscription warrants are jointly issued by Shenyin, Wanguo and Haitong Securities Company, and ICBC Haidong Branch is entrusted to serve as the general financial agent for the issuance of subscription warrants.

In the government's publicity, the income from the subscription certificates, after deducting production costs, underwriting fees and GG publicity and other miscellaneous expenses, is donated to Shanghai's social child welfare undertakings.

The previous things are actually all right, but the promotion is a bit vague, which also causes some unpredictable problems later.

The main problem is that there are still some people queuing up before the sales points open, but after queuing up and not many people can keep up, the enthusiasm of the people queuing up is low.

At the end of the day, the number of subscription certificates sold was far lower than originally expected, and the situation on the second day was worse than the first day.

It is something that no one would have imagined that a 30-yuan subscription certificate would receive a cold reception, but if you think about it deeply, it makes sense that people would not want to buy this subscription certificate.

Nowadays, 30 yuan is not a small amount that doesn’t matter today. It is 1/3 of the monthly salary of most working-class people. If you buy too much, you can’t afford it. If you buy too little, can you win the lottery?

Many people heard that the subscription certificate money was eventually donated to social welfare undertakings, and thought it was a trick to cheat money. They didn't bother to listen to our promotion of the subscription certificate sale. Even if some people bought it, they only bought two copies.

It is precisely because of this that Li Yi planned to harvest a wave of leeks while everyone's enthusiasm was not too high.

He knows how crazy the stock subscription is this year.

According to data disclosed later, this year, under the promotion of the Haidong Municipal Government, Haidong's state-owned enterprises have set off an unprecedented shareholding system climax. These companies were planned and organized by three securities companies, Shenyin, Wanguo and Haitong, and issued stocks to the public in four batches, and were listed on the Shanghai Stock Exchange that year.

A total of 53 companies issued 54.79 million shares with a par value of 10 yuan throughout the year, and the average winning rate of subscription certificates throughout the year was as high as 86.9%. The large scale of issuance, the large number, and the high winning rate were unexpected by most people.

In particular, in order to protect the interests of investors at that time, the price-earnings multiple based on the stock issuance price was relatively low, and new stocks could make a lot of profit as soon as they were listed.

In particular, on May 21, 1992, the Haidong Stock Exchange announced the full liberalization of stock prices. The Shanghai Composite Index more than doubled from 616 points on May 20, and reached 1265 points at the close of the 21st. Almost all stocks were in the red, and even many monster stocks that seem to be stunned now appeared.

For example, the stock of Yuyuan Department Store, with a par value of 100 yuan per share, exceeded 10,000 yuan, a full 100 times increase.

It is common for a new stock with a par value of one yuan to make 20 to 30 yuan after listing. According to statistics afterwards, if a subscription certificate wins a good stock and sells at a good price, it can make about 10,000 yuan.

In other words, if you spend 3,000 yuan to buy 100 subscription certificates, you may become a millionaire that year.

Li Yi has not studied in depth whether this algorithm is scientific, but if all the newly issued new stocks that year are split into stocks with a par value of one yuan, it is 547.97 million shares, and 2.07 million subscription certificates have an average of 264 shares per share. It is common to make an average of more than 20 yuan per new stock after listing that year.

In other words, no matter how you calculate it, the profit of a subscription certificate this year is more than 5,000 yuan.

Most importantly, in 1992, stock subscription certificates were only available to Haidong citizens, while stock trading was available to investors nationwide through the Haidong Exchange. Therefore, it can be said that the more than 10 billion yuan of income brought by 2.07 million subscription certificates is a fortune given to Haidong people by the people of the whole country.

Think about it, investing 30 yuan can make a profit of 5,000 yuan. Is there anything more profitable in the world?

Maybe, but such a legal and risk-free thing will not be available in recent decades, and there will not be many opportunities in the future!

Therefore, Li Yi must seize this opportunity and enjoy this wealth feast no matter what!