Original subtitles

Created & Directed by WONG KAR WAI

EPISODE 29

THANK YOU

110687330 buying Shanghai Fashion, ¥11.74, 10,000 shares.

804534535 buying Shanghai Fashion, ¥13.80.

What matters is where the price lands at 9:25 a.m.

That's the real battle.

¥18.88.

Keeping your word takes true skill.

For years, Mr. Qiang and I have been rivals.

I haven't lost once.

First we cut off his arms, then we bleed him dry.

Yes?

Mr. Ning went to the trading counter and cancelled all standing orders.

Cashed out ¥34.1 million. He's gone.

Let Mr. Bao taste his own "corpse removal".

I've sold The Grand Lisbon.

Mrs. Lin's shares will transfer to Southern Investments.

Thank you for telling me.

I was managing ¥120 million,

These funds had to go through WD before they matched me 1:1.

With half of my funds gone, so too was the basis for my leverage.

Because Mrs. Lin and Mr. Ning withdrew their funding,

I had to sell a portion of shares to fill in some of that gap.

I then held 2.8 million shares.

Altogether, my total assets amounted to around ¥50 million.

Still not too near the red line.19

Both of them withdrew at the same time.

It was clearly part of his plan.

He's bleeding you dry while cutting off your limbs.

What do you have left?

Tomorrow, I'll cash out my personal account.

I'll buy out your guys' shares. We'll temporarily disband.

What's Mr. Bao's position?

He holds 2.8 million shares.

Based on my calculations,

with his remaining assets, and accounting for our financing,

if the stock price falls to ¥10, he'll be completely wiped out.

The price is still above ¥18 for now.

The bonus shares.

If Shanghai Fashion Corp issues just 5 bonus shares for every 10 shares held,

Mr. Bao will survive.

Newspaper, anyone? Read the latest on stocks!

Take a look!

One more time.

Doctor, here's a copy of Shanghai Fashion's upcoming report.

No bonus shares. No shares converted from reserves.

They've even got an ongoing contract dispute.

Alert all friends with large Shanghai Fashion Corp positions.

There will be bearish news today.

Watch the market. Monitor movements.

The price dropped fast when the news came out!

So many people got trapped.

What about the bonus shares?

Wait, yeah.

Were they empty promises?

After consideration, the Board decided to channel all profits into expansion.

Mr. Cai, Shanghai Fashion promised to the public--

Let me clarify.

We never promised to issue bonus shares.

Mr. Cai,

call from Mr. Bao.

Not taking it.

A string of bad news.

First they cut him off from Shanghai Fashion.

Then they poached his allies.

Poor Ah Bao!

Sorry, Mr. Bao. Mr. Cai's not here. We can't seem to find him.

Shanghai Fashion has fallen under Southern's spell.

Qiang is too ruthless. He went for the jugular.

Trading stocks is a science. It's for the well-educated.

It relies on knowledge, not luck.

Once in a while, a madman jumps in and tries to make a splash.

He'll grasp for straws, but the market will melt his wings.

Next we focus on selling.

Target price,¥12.

We'll bury Ah Bao alive.

Understood.

Today, we drag down the price.

8% at a time, 9% at a time will do.

We don't want things to get too ugly.

-Do what you need to do. -Understood.

Over the next few trading days,

Shanghai Fashion's falling price almost wipes out my position.

Every time the price drops ¥1, I lose ¥2.8 million.

Make way! Sell all shares of Shanghai Fashion!

¥12 is the margin call level.

Any lower, and Mr. Bao will be forced to liquidate.

What's the exact price at which that'll happen?

¥10.88.

Wasn't that Mr. Bao's suggested opening price?

Fate is playing games...

At this moment, my assets total ¥33 million,

¥30 million came from WD, leaving me only \3 million in net assets.

The price had nearly dropped to ¥12.

Any more, and I'd be finished.

Tomorrow we go all in. Sell everything.

No half measures. No mercy.

It's below ¥12. Any lower, and it's forced liquidation.

Tomorrow, no matter the price, sell it all.

Or you die.

Understood. Selling Shanghai Fashion ¥11.74, 4,500 shares.

He wanted ¥10.88.

I'll give him that.

Sell, ¥10.88. Done.

Current sell orders total 10 million shares, and no one's buying.

-These Shenzhen guys are ruthless! -Help me sell!

10 million shares to be sold.

No one's buying.

Take stock of everyone's position and assets.

Please excuse us.

We overdrew ¥15 million from the Exchange.

It needs to be settled by 9:40 a.m.

Or else, the head office will hear of this situation.

Then we'll be in deep trouble.

Tomorrow's going to be ugly. WD might close out Mr. Bao.

Mr. Bao is our biggest client, and he's always considerate.

A forced close feels too harsh.

Ah Bao has to accept it.

Someone's gotta take the fall.

Either him or us.

Mr. Wang, a call from the Exchange.

Mr. Bao, the Exchange called.

The settlement's overdue.

We only have the first 10 minutes after tomorrow's opening.

The funds must be there.

Otherwise, WD will be in breach and face severe punishment.

WD wouldn't have a foothold in Shanghai without my help.

Give me a few more days.

I don't have that option.

It has to be settled tomorrow.

By 9:30 am.

Before that, do what you can.

After that, I'll do what I must.

-There's info on Ah Bao's position. -I can check it out.

Get a clear picture, and tell me tonight.

Ah Bao, I've thought about it.

Forsake your pride.

Talk to The Club.

They won't leave you for dead.

Be patient.

Patient?

No time for that.

This Shanghai stock battle.

Everyone's watching it from the sidelines.

Especially The Club.

We're like stinky tofu, smelly to most, but tasty to the right consumer.

I admire you.

Such a desperate time, and you're still so confident.

It's simple.

Where you sit determines your view.

Mr. Qiang's sitting on my forced liquidation.

Come tomorrow, he'll pick apart my carcass,

and stock up on cheap shares.

But Doctor Wu is different. He still has a substantial position.

If we dump our shares tomorrow, they will be collateral damage.

Then why do they act like they couldn't care less?

Waiting for a good price.

Applying pressure by doing nothing.

Now it's a game of chicken between me and Doctor.

What if...he never makes a move?

Then I lose this gamble.

That's fate.

Mr. Qiang, announcement's out.

The market's response is so intense.

Can you lend a helping hand,

and leverage Southern to help us protect our image?

Let's discuss it tonight.

What's up?

Celebration dinner. Am I welcome?

Please come in! Watch your step.

Watch your step. Welcome!

Mr. Qiang reserved the upstairs.

Why aren't you inside?

Waiting for the VIP.

Who?

Shanghai Fashion's Mr. Cai.

No wonder you're in a good mood.

If there's a restaurant as big as The Grand Lisbon,

would you want to take it over?

Not a chance.

It's mine now.

Worrying about your partner now?

Madame, Fang Mei is here for you.

Fang Mei?

Please tell me where Tao Tao is! I beg of you.

He doesn't pick up. He leaves me at home.

What should I do?

Fang Mei, calm down. Listen to me.

Tao Tao and Mr. Ge went bowling. He's not fooling around.

-You can trust in him-- -I don't believe you!

Fang Mei, you shouldn't be so paranoid.

But he's so handsome and likeable!

If he really eloped with another woman, what would I do?!

He'll never do that! Besides...

You can keep him by your side, but if his heart still wanders,

you'll lose him no matter what.

-You must know where he is. -I don't.

-You must. -I don't.

Bring him back!

-I need to tell him! -Enough!

-I need to tell him. -I really don't know...

-I'm begging you! -Fang Mei...

Fang Mei!

What's going on?

So much blood.

My child.

Please call.

Please call.

Ambulance time.

Don't panic! Easy there! Sit down slowly.

Call for an ambulance.

Doctor, please save my child.

Who are you?

-I'm a relative. -Okay, get in.

Tao Tao's not answering!

Don't panic. Call Mr. Bao.

Problem in the kitchen. I have to go handle it.

Feel free to go elsewhere.

-Don't worry, just go. -Okay.

Xiao Qin, stop staring. Take care of the guests upstairs.

Everyone, please enjoy your meals. It's over now!

Is Fang Mei ok?

She's inside. Tao Tao's being attacked. Hurry!

Tao Tao!

-Fang Mei groomed you up. -I'm not going in.

You ungrateful little...

If Fang Mei miscarries, I'll make you pay with your life!

-Stop hitting him! -Let them!

-Come on! -Keep hitting!

What are you doing? Please stop--

Stop it!

Ling Zi, how's Fang Mei?

-She's ok. -Thank goodness.

Tao Tao, I don't know if you're lucky,

or your family is.

The baby's ok.

But your marriage?

Up to you.

You want your wife and child?

Get in now.

You don't, you're free.

Fang Mei is agreed to a divorce.

Once and for all.

He's your buddy.

Talk to him.

Go check on Fang Mei.

You're not feeling well?

I'm ok.

What's wrong?

These sudden things are too much for me.

People and things are bound to change.

But too fast for me.

Her sudden condition...

My heart can't take it.

My late wife.

All of a sudden, she's gone.

So, suddenness hits me like PTSD.

What do you want?

Still want to fly?

Fine.

Your chance is here.

I won't stop you.

Go in and tell Fang Mei you want a divorce.

You'll be free.

Go.

Fang Mei, Uncle will take care of it. Just tell us what you want.

-What am I supposed want?! -It was a mistake to marry him.

I've always liked to panache.

Apart from having panache, I couldn't beat you in anything else.

So in this regard, I cannot lose to you.

-Nurse, so sorry. Please help him. -Where? Who needs help?

This gentleman's having a heart problem.

What's wrong?

-I'm fine. -Tell me what's wrong.

My heart beats once, stops twice.

I've decided.

I'll outdo you in panache.

What do you mean?

With my wife,

and my kid,

we'll have family panache!

-Aren't I smart? -Screw you.

-Hurry up. -One sleeve off.

-Take this sleeve off. -I know. Let's take it slow.

Come on, arm straight.

Honey?

-Hey, honey. -Go to hell!

-Get lost! -Alright, alright.

Come on, baby.

Pretty good.

Yes.

I still have some business. Take care of Mr. Ge for me.

-Thanks, Ling Zi. -Yes, thank you.

-I'm heading out. -Thanks again.

Ling Zi!

I'm returning this to you.

I've always taken more than you owed.

All that insurance talk was just a joke.

But since you paid the premium, you should keep what's yours.

Hold onto it.

Maybe it'll come in handy one day.

If I meet my end tomorrow, this money's gone.

You keep it.

It will come in handy one day.

You should have kept Uncle Ye.

Couldn't implicate him.

Also...

-I owe you some words. -Forget it.

You owe me nothing.

I knew it the first time you visited me.

No way we could be together.

Thank you.

Helping me all these years.

I've been there.

Romance is like this.

Two people go to a temple fair,

pledging to roam together the whole night until dawn.

Something comes up, and one leaves.

So the other finds someone else,

and continues.

However...

They'll always remember the moments they shared.

What they saw...

What they said...

And why they smiled.

Wait for my good news.

-Bye, Mr. Cai. -Bye.

You guys go first.

-Sorry about that. -How's your friend?

In the hospital.

Your guests are gone?

The important person came.

Here's his business card.

Next time you have a new dish, you can give him a call.

I told you I'm not interested in other people's matters.

No business then. Just one drink.

Our five minutes.

Cheers.

Time's up.

I still have things to say.

Fine, tonight's an exception.

Oh, we're out. I'll open another.

No need. I won't talk for long.

You talk, I drink.

Your glass please.!

I'm leaving for Shenzhen soon.

We'll drink after you're back.

Come with me.

What about Tokyo Nights?

Open a bigger one in Shenzhen.

I'm sure it'll be even better and even more famous.

Or do it in Hong Kong.

This restaurant was given to me by someone.

From ambiguity to my sole ownership

took three whole years.

In the next three years,

I want to do something different,

and meet new people,

not repeat past experiences.

It wouldn't be good for me.

And it wouldn't be fair to you.

We'll always fall for the same things.

You can hide, but may not succeed.

I know that too,

but I refuse to admit it.

This bottle,

I'll bring to Shenzhen,

and wait for you.

Remind Mr. Bao.

Shanghainese don't own Nanjing Road.

Retreat before the market opens,

or he'll be facing bankruptcy.

I don't know your business.

I won't be the messenger.

You won't just let it happen.

I used to worry for others.

But actually, every person has their own luck.

See you.

See you.

Monk, close up.

Today, we'll bear witness to a modern tragedy.

The title is "The Cornered Beast."

Watch as the so-called WHALE is forced to close his position.

Hi, Mr. Wang!

This may just be the most thrilling forced liquidation you've seen.

We sent the notice for liquidation and confirmed receipt from Mr. Bao.

"Forced Liquidation Notice"

No news since yesterday?

Guess he couldn't find funding.

Also no word on liquidation procedure.

Market opens in 40 minutes.

It's the end of the road for Ah Bao.

In this market, anything is tradable.

All that matters is the price.

Even for a coffin.

What if he doesn't engage?

Then I lose this gamble.

That's fate.

At this point, still no phone call.

Mr. Bao's finished.

Every account has been settled.

You can all go home now.

I don't think this is the end.

I believe Mr. Bao will fight through it.

Captain Cai, if there are any developments,

just give a call.

We'll come right away with funds in hand.

That's right. I'll come too.

With Mr. Bao gone,

Huanghe Road will be lacking someone with his finesse.

This is all my fault.

Of course not.

That day on Xikang Road, if I didn't drag him into the trading post,

he wouldn't have become Mr. Bao so soon, and we wouldn't have formed this team.

If not for this team, I would have been bored to death.

I never traded stocks for the money.

I did it because I was getting old, and I wanted something to do.

Over these years, we became friends.

I've been so happy.

I know. It's the same for me.

That's why... no matter where we scatter off to,

if Mr. Bao asks for us, then we'll rush back right away.

Alright, come on. Don't be like that.

There's always a good side.

Think this way.

The market opens, and Mr. Bao becomes Ah Bao again.

All his worries, vanished.

Only fools have no worries. You want to play the fool?

In the blink of an eye, we're about to separate.

Like leaves on a tree will eventually fall down.

Let's go.

Sure.

Mr. Bao, you're amazing!

You're brilliant!

Incredible!

He's incredible!

20 MINUTES AGO

Ah Bao here.

It's Doctor Wu.

The Club wants to give you a hand.

Great, Doctor.

Quote a price.

If we're all satisfied, I'll let you take over my position.

The banks open at 9:00 a.m.

I'll transfer ¥30 million into WD.

When the market opens at 9:30,

WD's overdraft at the exchange will have been settled.

Then you pass all your shares to me.

As for your payment, I'll give you two options.

Option one, you get ¥2 million in cash, one-time.

Do whatever you want with it.

Or option two.

I hold 3 million corporate shares of Qishan Utilities.

I can transfer them to you at face value.

It's a good price and pays annual dividends

to at least cover day-to-day expenses.

The company can't be listed yet.

Whether its future IPO is profitable, depends on your fate.

You have one minute to think it over.

Neither.

In half an hour,

once your position's liquidated, you'll be left with nothing.

Recently, I've been reading a book.

There's a line in here. I think it's well-written.

"Land is the only thing that lasts."

55 seconds.

I heard there's a township enterprise preparing to IPO,

and The Club is their IPO advisor.

50 seconds.

I heard your proposal is...

a package acquisition of several plots of land.

Grow their scale, raise their value.

It includes some farmland in Chuansha.

40 seconds.

My friend is a flower farmer whose cooperative owns three acres.

The town wants to buy back this land,

bundle it with other properties, and sell it to a listed company.

35 seconds.

My friend asked me for advice, so I told him...

There's no indication the land will be used.

High probability of vacancy.

Land should be used for production, not as numbers on a balance sheet.

Right?

30 seconds.

Here's my proposal.

Let the farmers continue their work.

wThe government will BACK that.

It addresses local unemployment, while raising tax revenue.

Developing the land generates more value than a single transaction.

20 seconds.

I don't know any township people.

But The Club and I are old friends who can negotiate on fair terms.

10 seconds.

I'll exchange my shares for an opportunity.

Cancel your acquisition plans.

Lease us the surrounding land you've already acquired.

I'll become a flower farmer and leave the stock market for good.

You only have five seconds left.

Five,

four,

three,

two,

one.

Wait.

For what?

Wait!

Slow down.

It's the end of the road for Ah Bao. Why help him?

It's not helping him. It's helping ourselves.

It's a deal.

Bye.

Why isn't the position being closed?

Doctor Wu is taking over for Mr. Bao.

This outcome contributes to the market's healthy expansion,

and reduces stock price volatility.

Mr. Bao won't have to walk home naked.

If it's not a complete loss for him, it's a complete loss for me!

I bought high and dragged the price from ¥20 down to ¥10!

This maneuver cost me ¥30 million!

We were thinking, sacrifice a pawn to take a rook.

Well we lost the pawn, and the rook's on our doorstep!

We dumped the stock so we could buy out Ah Bao's shares.

We'd pump the price up again, and recoup our losses.

Now...

The Club got the shares for cheap, and I completely missed out!

What can we do now?!

Where's Li Li? Is she in Shanghai?

She left last night.

The stock market is like a fortress besieged.

Everyone outside wants in. Everyone inside wants out.

Mr. Bao fulfilled every promise he made.

As I left the Peace Hotel, I had once again became Ah Bao.

Falling from the Empire State Building takes 8.8 seconds.

My time at the Peace Hotel...

lasted seven years.

Leave...

Forget what's to be forgotten.

I won't...

I'll remember what's to be remembered.

Li Li.

Each of us has our own way of keeping what needs to be kept.

Li Li uses her proceeds from selling The Grand Lisbon

to settle Mr. A's remaining debts.

She tells the police she used false ID's.

Gets a year in prison.

Years later, Li Li went to Huanan temple in Guangzhou, and became a nun.

Li Li said, 'Mr. Bao, take care.' As she left, Ah Bao remained still,

watching her silhouette become more and more distant,

more and more faint.