March 2, 1992

The long-awaited day finally came, Jia Lei and everyone stayed in front of the TV at home, anxiously waiting for the first lottery of the 92 Pearl stock subscription warrant.

At the same time

Countless people across the country are waiting for the results of the lottery in front of the TV and radio, and almost all the citizens of Pearl City are concerned about this matter.

Jia Lei stared at the TV, his eyes didn't dare to blink, this lottery ceremony was the speech of the city leader at the beginning, and then the representative of the securities company went up to say his thoughts on the issuance of subscription warrants and the development of stocks.

Among these people, Jia Lei is probably the most familiar with Xie Rongxing, the manager of Wanguo Securities Company, but Jia Lei's attention is completely out of him.

Jia Lei stared closely at the hands of three tall and beautiful ladies in suits on TV.

I saw that the notary first put the tested ball in a round transparent glass jar, and then announced the start of the lottery ceremony. There are two openings at the top and bottom of this glass jar, the upper one is responsible for putting the small ball, and the lower one is responsible for the ball.

You want to ask what this lottery machine looks like? Jia Lei feels that its shape is like a transparent earth.

It's just that there is an extra handle on the right side of this machine than the globe, and when you shake it, it's like an old-fashioned popcorn machine on the street, as long as you turn the handle that resembles a popcorn machine, the transparent glass ball will shake up with the small ball inside.

"This thing is too ugly! Whether it's the color scheme or the action, it's too spicy to the eyes!" Jia Lei couldn't help but cover his eyes and said, but he still couldn't help but look out at the live broadcast results from between his fingers.

"What's ugly? This lottery machine looks so foreign! The most important thing about this thing is that it's fair! You see this machine is transparent all over the body, and it's still live broadcast! Everyone can see the process of every ball being shaken! Absolutely no one can cheat. Grandma Zhou said with great satisfaction.

In order to show fairness and justice, this machine really does three circles on the left, three circles on the right, and three circles on the left...... It tossed the ball inside and shook it up and down several times!

"Yes, yes, this ball is completely transparent! You see how small the opening under it is, how difficult it is to shake out a ball. It's all a matter of luck!" Sanni couldn't help but say.

"Don't make any noise, the balls are out!" the little Jew yelled, and the room fell silent.

Everyone held their breath, only to see the beautiful woman in charge of the lottery open the lid, a small ball fell from the glass jar, and rolled down a long glass tube, because I was afraid of falling out of several small balls, this tube was like a staircase on the left and right sides of the parallel two rows of small grids, the balls rolled one by one, and finally the first ball on the ground was the number that was shaken.

These numbers will be handed to the host by the hostess, who will read them aloud and write them down on the blackboard......

"I'm hit, I'm hit!" Li Chunhua suddenly jumped up excitedly and said.

"Ahhh......h

Because Jia Lei wanted to bring his relatives, friends, neighbors and uncles to make a fortune together, he pulled them all away when he bought stock warrants. So the group of people in the house more or less bought a few stock subscription warrants, and when the lottery results came out, the whole house was full of laughter.

It's so loud that the roof is about to be lifted!

On March 2, 1992, the first lottery ceremony of the 92 Pearl Stock Subscription Warrant was held in the Pearl City Friendship Building, and the final lottery winning rate was 10.3%;

The stock subscription warrants won in this lottery can be used to purchase the shares of seven companies that are about to be listed, including Zhongcheng Industry, special-shaped steel pipe, Pudong Johnson & Johnson, Jiafeng shares, light industry machinery, United Textile, and Ertextile Machinery.

A 10% chance of winning the lottery means that as long as you have 10 consecutive stock warrants, you will definitely win one.

With such a high winning rate, the market for speculating in call warrants has ignited all of a sudden!

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March 3, 1992

All the newspapers in Mingzhu City published the news of yesterday's stock subscription warrant lottery, and asked all the successful applicants to go to any ICBC savings office in the city or the designated securities company outlets to go through the procedures for stock subscription payment from March 7 to March 15 with the subscription warrants in hand.

As for how this subscription warrant was drawn, Jia Lei will give you two specific examples.

The first example is the secondary spinning machine

Mingzhu No. 2 Textile Machinery Co., Ltd. is expected to issue 179,542,500 yuan of shares, with a par value of 10 yuan per share, totaling 17,954,250 shares.

Among them, it issued 3.02 million shares to individuals, including 604,000 shares preferentially subscribed by internal employees like Jia Lei and Sanni, and the issue price of new shares was 38 yuan per share.

Because only 2.07 million copies of the 92 Pearl City stock subscription warrants were issued, all the lottery numbers were drawn within this range.

Second, the spinning machine lottery subscription certificate number is

Call warrant number 0000001-2077665 range of Zhongjian number 02, 12, 22,

Subscription warrant number 0000001-1820400 range of the number 32.

That is to say, the last number is these four numbers, all warrants can be used with the winning number, with the warrants can buy 30 shares of two textile machinery stocks.

For the seven companies issued by lottery on the same day, the tail numbers of stock call warrants include: 02, 12, 22, 32, 42, 52, 62, 72, 82, and 92. These numbers contain all the natural numbers in the tens digits.

In other words, if you have 10 consecutive stock warrants, you will definitely win one!

Seven listed companies, including Pudong Johnson & Johnson, Jiafeng Shares, Light Industry Machinery, United Textile, and Second Textile Machinery, can purchase 30 shares of the company's shares in the subscription warrants.

The remaining two companies, Zhongcheng Industry and special-shaped steel pipe, can subscribe for 50 shares with the winning number because the plate is relatively large, that is, the market value of the issued shares is relatively high.

In that year, the special-shaped steel pipe company decided to issue 8 million yuan of shares to the public, with a par value of 10 yuan per share, totaling 800,000 shares, and to issue 640,000 shares to individuals with a price of 28 yuan per share.

The stock of the special-shaped steel pipe company is specially mentioned because its winning number is relatively special!

In addition to the regular Zhongjian number with a tail number of 62 in the range of call warrant number 0000001-1097300, it draws the stock subscription warrants with a tail number of 251, 751 and 291 in the range of call warrant number 0000001-2077665.

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After the lottery of stock subscription warrants ended, the Pearl City began a vigorous subscription payment action!

Because there were only eight stocks on the Pearl Stock Exchange at that time, and the price-earnings ratio was more than dozens of times. However, the price of buying the original shares is very low, and the issue price is often only between 1-5 times the par value, so these new shares with a price-earnings ratio of only 1 to 5 times the par value have been coaxed.

Because there is a buffer period between the call warrant lottery and the payment date, this is used by everyone to raise money to buy stocks. Some people who have bought a subscription warrant and won the lottery but have no further subscription funds for the stock will take advantage of the past few days to go to the black market to sell a part of the winning stock subscription warrant and exchange it for cash to go to the bank to pay for the original shares.

The value of the winning stock call warrant has skyrocketed overnight!

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"Hurry up, I didn't buy the first batch of warrants, so why should I buy a few second-hand stock warrants." The young master of Shanjiuzhai Mountain hurriedly walked over from Jia Lei with a bunch of little minions and said.

"Where are you going in such a hurry?" Jia Lei called out to him and asked.

"Where else can I go? Of course, to buy stock warrants?" said Shanjiuzhai impatiently.

"Are you crazy, aren't you?How high is the price to buy now?" Jia Lei asked in surprise.

"How tall can it be? It's only 3 to 6,000 yuan for a piece of sky. Shanjiuzhai said indifferently.

"A warrant of more than 3 to 6,000 yuan is not high?" Jia Lei asked him.

"Of course it's not high, I have already calculated it! 30 shares of the original shares of the second textile machine are only 1,140 yuan, and now the price-earnings ratio of the shares of listed companies is generally more than 40 times the face value, that is to say, the stock that can be bought with this stock subscription warrant is worth at least 12,000 yuan, and I will definitely not lose money if I buy the winning subscription warrant! I can earn at least 6,000 yuan after buying a stock with a subscription warrant!" Shanjiuzhai said confidently.

"Do you now know that you can make so much money with a warrant? It's a pity that you bought it late, and now you can only buy second-hand goods! Jia Lei gloated.

"Are you wrong? What's wrong with me buying second-hand goods? Didn't you hear it on TV that this stock warrant can be used to participate in the lottery again and again in a year! If this stock warrant is won again, then I will earn at least 10,000 yuan more. Shanjiuzhai and Jia Lei said.

"You are really good! Even the secondary use of the call warrant is counted! Admire!" Jia Lei said with admiration.

"Of course, Lao Tzu's younger brother doesn't say that there are thousands or two or three hundred, there are always two heads in it!" Shanjiuzhai said proudly.

"Okay, don't show off with me! if you want to buy a warrant, go ahead, don't delay my business. Jia Lei waved at him impatiently and said.

"What kind of business are you doing here?" asked Shanjiuzhai curiously.

"My cousin is selling stock warrants here!Boss!" Li Chunhua suddenly rushed out from behind Jia Lei and said.

"What kind of call warrants does Jia Lei sell? He doesn't lack the money to subscribe for new shares?" asked Shanjiuzhai curiously.

"I'm not short of money, but I don't have a good reputation! I'm selling warrants here just to make a good name for myself. Jia Lei said helplessly.

"Since you want a good reputation, how much is the subscription warrant you sell here?" asked Shanjiuzhai curiously.

"1 ticket for 2,000 yuan for those who didn't win the lottery, and 1 ticket for 3,000 yuan for the lottery that won the lottery. Jia Lei replied to him.

"Is 3,000 yuan a piece so cheap? Then you can sell it to me, I'll get it all round!" Shan Jiuzhai said immediately, and he even went to get the stack of stock warrants on the table himself.

"Smack!" Jia Wei slapped him with the newspaper mercilessly.

"Take your hands off, it's not something you can sell. My stock warrant is limited to purchase, and each Pearl City person can only buy one. Jia Lei said viciously.

"Hey, each person is limited to one piece, what the hell are you doing?" asked Shanjiuzhai with a puzzled hand.

"I bought so many stock warrants some time ago, and half of the people in Mingzhu City were scolding me for being a fool! But now they are calling me a profiteer every day, if I don't let go of some blood, I'm afraid I won't want to mix in Mingzhu City for the rest ......of my life," Jia Lei said helplessly.

In fact, Jia Lei did this mainly to buy a good reputation for himself and his godfather, after all, most of the leaders in the city are now complained by the citizens. They said they went through the back door and only sold the warrants to their relatives and friends.

But since Jia Lei set up a stall at the door of the securities company to "bleed", Jia Lei and his mayor's godfather's reputation has finally improved.

Most of the citizens are just angry for a while, and if you really sell the warrant to him, in fact, many people will not be able to come up with the thousands of dollars that they have to buy the warrant and subscribe to the stock.

When they recognize this fact, they will naturally stop scolding......

"How long are you going to sell so many warrants? This is money spent for nothing, aren't you distressed that you sell them at half price?" asked Shanjiuzhai distressedly looking at several baskets of stock warrants behind Jia Lei.

"I don't feel distressed! I don't feel distressed at all, Lao Tzu earns a lot more money than this. It's just a fraction of ......," Jia Lei said through gritted teeth.

How can you not feel distressed?

Jia Lei calculated in his last life that a 92 pearl stock subscription warrant can almost bring nearly 10,000 yuan in profits, but there are 5,000 stock subscription warrants behind him, which is worth more than 50 million yuan......

Woo...... The sadness in Jia Lei's heart flowed into tears!

"Boss, do you see that my cousin doesn't sell subscription warrants, why don't you buy them from me?" Li Chunhua said in front of Shanjiuzhai.

"Buy it with you, how many stock warrants can you have on your body?" asked Shanjiuzhai disdainfully looking at Li Chunhua in old clothes.

"I have 100 serial "tabula-rasa" stock subscription warrants in my hand, big boss, do you think it's okay?" Li Chunhua asked as he took out a stack of stock subscription warrants from his arms.

"Oh, you have 100 serial stock warrants, are they really fake?" asked Shanjiuzhai excitedly.

"Really, of course it's true! This thing is so beautifully printed, how can it be fake?" Li Chunhua hurriedly said.

"Don't worry! These two people are also my relatives no matter how angry they are, but they are just 100 stock warrants! I won't let them fake?" Jia Lei sat on the chair and said.

"Look at what you said! Who in the entire Mingzhu City doesn't know that you are the largest in the city and a big shareholder of stock subscription certificates! How can the stock subscription warrants flowing out of your hands be fake?" Shanjiuzhai immediately said hypocritically.

"This boss...... You see!...... Since you think our stock warrants are not fake, then you say, how much money is appropriate for you to give us?" Su Chao asked anxiously rubbing his hands on the side, he felt that he was about to send it.

"I'll do the math......" Shan Jiuzhai said as he spread his hands, and a small minion immediately handed him a palm-sized golden abacus.

"Ten of the 100 stock subscription warrants have been selected, one counts you 5,000 yuan, and ten is 50,000 yuan! Now the market price of 100 consecutive "blank" stock subscription warrants is 300,000 yuan, and I will give you 350,000 yuan for these, okay?" Shanjiuzhai asked after pulling the abacus.

"You're not mistaken, you've already given the ten pieces of money, why do you want to give it twice?" Jia Lei asked disdainfully.

"Because this stock subscription warrant can still be used once after the lottery is drawn? Don't you understand this? This is how it is sold in the market now!" said Shanjiuzhai.

"Really, I look like I'm outdated! I don't even know that. Jia Lei rolled his eyes and said.

"You're really outdated! I don't understand, how can a person like you, who has tens of thousands of stock subscription warrants, not even know the market price at which the subscription warrants are sold?" asked Shan Jiuzhai puzzled.

"Because I have always only bought call warrants, and I don't want to speculate on call warrants! I want to know what I am selling at the market price of call warrants?" Jia Lei asked.

"Oh, since you're not speculating in stock warrants, what are you doing now?" are you sleepwalking?" asked Shanjiuzhai, twitching the corners of his mouth.

"I'm not sleepwalking, I'm doing charity, not trading!" Jia Lei said with a big roll of his eyes.

Selling stock warrants at half the market price is not what charity is!