Yingdong's market value has risen by billions of Hong Kong dollars in a short period of time.

The good news reached the ears of Li Zekai, who was attending the Christmas party of the branch employees in Tokyo at the time, and he was overjoyed.

He has just received the "Business Achievement Award" from DHL and the South China Morning Post.

But that's just the beginning.

Three days later, Yingdong's share price soared to HK$8.3, surpassing the veteran large-scale Swire with a market value of HK$69.1 billion, and ranking among the top 10 Hong Kong stocks for the first time.

At this time, Yingdong also announced a number of acquisitions or cooperation plans one after another, taking the company's business to the next level.

In particular, the cooperation with Intel and CMGI is even more eye-catching.

In addition, there was news that Microsoft would exchange shares with Yingdong, and Yingdong was listed on the NASDAQ in the United States, with a price of $2 per share.

Rumors of hedge funds in the United States taking a special interest in Yingdong, such as the sweep of over-the-counter trading and the replenishment of stock in the market by securities companies issuing profit covered warrants, have stimulated Yingdong's stock price.

In December, I have been paying close attention to the movements of Yingdong, and Li Ping will report to me about the market situation of the day almost every day after the market closes.

In late December, I went to Xiangjiang alone.

Li Ping saw that I came to Xiangjiang in person and asked, "Mr. Li, this time I want to prepare for shipment."

"Look again, it's almost there"

"I suggest that it can be taken slowly, our volume is too large, there will be a process of shipment, and I am worried that the stock price of Yingdong will fall at any time. ”

"You start by going through the specifics. ”

"Affected by the continuous record highs of the Nasdaq index, the citizens of Hong Kong are frantically chasing technology stocks, and the rise in Yingdong in a short period of time is even more amazing"

"That's for sure"

"I personally believe that in order to maintain the growth of the stock price, it cannot rely on speculation alone, and Yingdong must be supported by substantial and high-growth earnings. ”

"Yingdong was in the investment stage from 1999 to 2000, and the returns were not obvious. According to industry estimates, the annual turnover of Yingdong in 2000 was estimated to be only about HK$30 million, and by 2001 it was HK$200 million and in 2002 it was HK$800 million. ”

"If the currency-to-turnover ratio, which is commonly used in the Western investment community today, is used as an indicator of whether the stock price is high or low, the PRR for the next three years will be 1,800 times, 229 times and 68 times respectively. ”

I stretched out my hand and shook it at Li Ping and said, "It doesn't work to use the price-earnings ratio to measure technology stocks, technology stocks, speculation is expectation, and it is the future." ”

"To put it mildly, as long as you can continue to tell stories, the stock price will continue to rise"

"Yingdong has told a lot of stories in this period of time, does the second son still have a story?" asked Li Ping.

"Yes, the second son's heart is very big, but in the past few days, let the personnel be in place and listen to my instructions at any time"

Li Ping's worries are reasonable, aside from the stock price, the time required for shipment will definitely not be short, so the shipment time should be advanced.

In the next few days, Yingdong Digital Power continued to rise, and the stock price continued to be pushed higher.

This made many people, including shopping mall veteran Li Jiacheng and other predators, all their glasses shattered.

December 23, 1999 was a glorious day for Yingdong and its chairman Li Zekai, because the second son created another myth in the stock market.