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Created and Directed by
WONG KAR WAI
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EPISODE 24
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NO SHORTCUTS
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Shanghai Fashion is the only store on
Nanjing specializing in clothing.
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I'll invest in them long-term.
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Not just as a shareholder,
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but also as a business partner.
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Our chairman says,
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whoever can get us listed
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is who we're partnering with.
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You really think
it's going to be that easy?
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Salmon can't work together with catfish.
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Which of us is the salmon?
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And which is the catfish?
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It's still too early to tell.
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You want to take on Nanjing Road?
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Ambition is good. I won't stop you.
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But what if you fall?
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The one who gets ahead
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is the one who's most daring.
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That's why I have the upper hand.
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The Walmart order is your lifeboat.
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You deal with Shanghai Fashion.
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I have other things to do.
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The Walmart order is a big deal.
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But not in the same league
as Shanghai Fashion's IPO.
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You and I are like this hotel.
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I'm the hotel manager,
and you're my guest.
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First, I ensure good service.
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But I also have to guarantee your safety.
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Uncle Ye,
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we've come a long way together.
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As we forged our path,
you always had my back.
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I only got the IPO permit today
because of your help.
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I may not be the best student,
but you're definitely the best mentor.
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If, one day, we're backed into a corner,
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it definitely won't be your fault.
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It will be mine.
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From now on,
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I should be the one taking care of you
and the two aunties.
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Don't worry about them.
They're my lifelong responsibility.
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Just take care of yourself.
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I understood Uncle Ye's concerns.
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But nothing in life is guaranteed.
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Walmart wouldn't end up being a lifeboat.
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At this moment, Miss Wang
also had her arrow drawn
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as she fretted over her new business.
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-Don't call me "Auntie."
-Auntie, I promise I'll pay the rent soon.
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I don't care.
I don't want promises. I want money.
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Do I look like a charity?
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I better see that rent today.
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Doesn't matter who you are.
Pay up, or I'll kick you out!
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Oh, Xiao Wang, you're here.
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Auntie, what are you doing here?
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By the way, let me just ask...
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Is it okay if I'm
a couple days late on my rent?
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Your father already paid your rent
for the next three months.
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My father did?
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When was this?
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Two days ago.
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You didn't know?
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He wants to help you and your husband.
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Oh no, he's just a business partner.
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No need to explain.
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-I understand.
-I swear.
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Don't worry, I get it.
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Right now, your man is even selling
his favorite mink coat for you.
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You're a lucky girl.
Don't take him for granted.
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Do you take me for a fool?
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Look how good the quality is.
I was saving it to wear at my wedding.
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I normally wouldn't sell it
for ¥20,000, let alone ¥2,000.
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Look, ¥2,000 or I walk away.
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Fine, so be it--
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Oh, shoot.
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Actually, you seem quite fond of it.
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Go ahead, just take it.
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-So prideful.
-Shut up.
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What are you doing?
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I have too many fur coats,
so I had to get rid of one.
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Our landlord just told me
my dad already paid the rent.
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Buy the coat back.
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We'll make money by working,
not by selling our valuables.
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The "how" is unimportant. Cash is cash.
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We need to adapt to circumstance.
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Forget it, it's already sold.
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Here, ¥1,000 for you.
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I get ¥500, and we'll save
¥500 for company emergencies.
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¥200 for food,
¥200 for utilities, and ¥100 for hair.
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It's perfect.
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I'm too busy to do my hair.
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I'll do my hair then, okay?
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It needs a touch-up.
Let's go then. To No. 27.
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Taxi!
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Hi there, we're Mingzhu. Mingzhu Ltd.
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Rooted in Shanghai, eyes on the world!
Here's our card.
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Mr. Wei.
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My new company with Miss Wang.
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-Sir.
-Congratulations.
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"Mingzhu" as in "pearl."
We're the pearl among companies.
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-Take one.
-Mingzhu? Congratulations.
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What happened to your coat?
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And you are?
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Mei Ping. You really don't remember?
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Ah, Section Chief Mei.
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Oh wait, not yet? Keep working at it.
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Same goes for you.
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I'll be the one
handling most of your business here.
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We're Mingzhu.
Rooted in Shanghai, eyes on the world!
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Oh here, take a card.
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Xiao Wang, you better be serious.
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This is no joking matter.
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I worked at No. 27 for years.
I know what I'm saying, what I'm doing.
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5% commission, $17 a dozen?
How will you earn a profit?
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I'll figure something out.
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What's your production cost?
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You can't tell me?
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Chief, if I'm giving the best offer,
I should get the order.
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Why should I believe
that you can actually fulfill it?
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The numbers add up. 200,000 dozen pairs.
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Production cost is $12 a dozen.
Another $5 in fees.
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And your profit?
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After commissions and other expenses,
you're in the red.
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I have confidence.
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I have confidence.
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It's fine as long as
the order is settled in US dollars.
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This is your first order.
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Show No. 27, show Huanghe Road,
show Shanghai what you're capable of.
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Do it for yourself, not to beat Mr. Bao.
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To me, it's all the same thing.
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Uncle Ye, I'm heading back.
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I have more work to do.
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Thank you for the pastries.
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Thank you for the advice.
I'll keep you posted.
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-No need to walk me out.
-Take care.
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Oh, Mr. Bao.
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She was just heading out.
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-If I knew you would be back--
-Thanks...
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Thanks.
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Goodbye, Miss Mei.
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Right. Goodbye, Uncle Ye.
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What was she here for?
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Miss Wang's bid?
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$17 a dozen, 5% commission for No. 27.
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There's no way.
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This means only one thing.
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She just wants to beat you.
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She's not concerned with the math.
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If she takes the order
without production figured out,
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she's going to be in trouble.
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Maybe even legal trouble.
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Uncle Ye, you've been spying on her.
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"Know thine enemy." Your words.
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Anyway, this Walmart order...
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Come hell or high water, we must have it.
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Let me run the numbers again.
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There's no time for that.
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Have you thought it through?
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I have.
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To beat Mr. Bao, we can't go above $17.
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$17...
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Best case, we make zero profit.
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Worst case?
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Guess I'll just eat a lawsuit.
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No big deal. I'm the man. I can handle it.
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Did you forget? I'm the one who's liable.
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-Then absolutely not. Let's reconsider.
-Let's just win the order first.
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The details can wait.
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Without a seat at the table,
we can't even play our hand.
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-Well? Should I send the fax?
-No. You think I'm scared?
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Remember, I'll always be
your strongest support.
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Sending it.
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Did you plug it in?
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Nothing gets past you.
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Tough as nails.
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Done.
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What a cold winter this year...
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We're closing. This is the last bowl.
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Come on, we're celebrating.
Don't rush us.
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You seem to be celebrating every day.
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What have you accomplished?
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It's our company culture.
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What culture?
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Frequent cheers,
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and success nears!
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Another beer.
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A new dish. Give it a try.
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Goodnight, Madame.
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Come again.
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Good?
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Not good.
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Nothing's good when you're in a bad mood.
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First of all, too sour.
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Second of all,
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winning the IPO permit
means he will have to invest more.
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He'll only fail even bigger.
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Investment yields returns.
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The investment he needs
is at least ¥200 million.
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How will he acquire ¥200 million?
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He's capable.
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Capable?
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Even you would think twice
before lending him millions.
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Am I wrong?
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Tokyo Nights is not the place for
discussing ¥200 million.
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Save them for Huanghe Road.
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Home of The Grand Lisbon.
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We'll talk about that tomorrow.
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Xiao Wen, Xiao Qin.
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-Close up.
-Got it.
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Are you coming?
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I'm right outside.
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Not coming in?
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Too much pressure in there.
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00:15:07,990 --> 00:15:11,280
The story of The Grand Lisbon
will take longer than five minutes.
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What then?
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Coming.
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Are you Mr. Qiang? The room's ready.
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Hello, Miss. Ah Er, start serving.
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Why are we here?
Tokyo Nights has hot pot too.
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00:15:35,310 --> 00:15:42,230
This past month, two people met here
at least three times a week.
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The man sat in my seat.E
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The woman in yours.
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The man has a dream...
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Becoming Nanjing Road's Warren Buffett.
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I don't know what the woman wants.
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She has a nickname.
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"The Assassin."
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She was once
Shenzhen's fastest floor broker.
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She'd perform 13 trades a minute.
200,000 a year. Never made a mistake.
229
00:16:19,230 --> 00:16:24,400
I just run a small restaurant.
Why bring up Warren Buffet?
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What does it have to do with me?
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Originally, the man thought the same way.
232
00:16:30,610 --> 00:16:36,620
But the woman used his dream to con him.
233
00:16:38,830 --> 00:16:42,880
How much capital
does Shanghai Fashion need for its IPO?
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00:16:43,460 --> 00:16:45,540
Depends on its offering price.
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00:16:45,630 --> 00:16:49,590
If it's around ¥10, ¥100 million will do.
236
00:16:51,220 --> 00:16:56,600
My team and I have ¥30 million.
Ning Bo manages a fund of ¥30 million.
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00:16:56,890 --> 00:16:59,430
WD Finance will match 1:1.
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00:16:59,680 --> 00:17:04,100
We'll keep a base position of 10%.
¥120 million is more than enough.
239
00:17:04,190 --> 00:17:07,900
If the offering price is ¥20,
you'll need at least twice that much.
240
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Right now, each share is worth ¥5.4.
241
00:17:10,700 --> 00:17:14,320
A higher price means
we'd make more in the sell-off.
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A high price won't help the company.
Starting high means less space to grow.
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00:17:19,790 --> 00:17:24,790
Nanjing Road's leading companies
are falling in value.
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00:17:24,790 --> 00:17:30,210
As latecomers, we play the long game.
Shanghai Fashion can't open high.
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00:17:31,220 --> 00:17:35,050
Back when there wasn't
so much money in the market,
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a group of friends with ¥10 million
would be called a "fleet."
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00:17:42,520 --> 00:17:45,690
What you're facing is an armada.
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00:17:48,150 --> 00:17:53,570
To Mr. Qiang and Southern Investments,
Shanghai Fashion's a mere appetizer.
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00:17:54,450 --> 00:17:59,910
They drop ¥300 million to buy it out,
and you and WD are done for.
250
00:18:00,750 --> 00:18:05,000
In this bear market,
even Mr. Qiang's tight on money.
251
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He can't just spend recklessly.
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00:18:07,880 --> 00:18:10,630
After Baoying, he's set for three years.
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Money's important in the stock market.
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00:18:13,090 --> 00:18:14,970
But information's even more.
255
00:18:15,050 --> 00:18:19,720
Shanghai Fashion's on my side.
I'll get information quicker.
256
00:18:21,100 --> 00:18:25,900
It's the company that's going public.
You're just a middle man.
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00:18:26,270 --> 00:18:29,360
What makes you think
they're on your side?
258
00:18:32,110 --> 00:18:37,570
In the market, the one who instigates
has the most exhausting role.
259
00:18:43,160 --> 00:18:44,960
Not physically, of course.
260
00:18:45,330 --> 00:18:46,830
Mentally exhausting.
261
00:18:48,420 --> 00:18:51,630
You're constantly worried
about your capital.
262
00:18:52,550 --> 00:18:56,590
If the flow of capital is broken,
then it's total defeat.
263
00:18:59,600 --> 00:19:02,970
The sword of the law's tiring too.
It hangs over your head.
264
00:19:04,390 --> 00:19:06,690
One mistake can land you in jail.
265
00:19:10,900 --> 00:19:12,610
Ever heard of Mr. A?
266
00:19:13,030 --> 00:19:14,570
Can you cut to the chase?
267
00:19:14,570 --> 00:19:16,110
We still have time.
268
00:19:27,920 --> 00:19:29,460
In 1990,
269
00:19:30,250 --> 00:19:35,380
new capital markets drew thousands of
exchange students back from abroad.
270
00:19:35,590 --> 00:19:37,340
We were full of ambition.
271
00:19:37,550 --> 00:19:39,890
Leading the pack was Mr. A.
272
00:19:42,680 --> 00:19:44,520
From Beijing to Shenzhen,
273
00:19:44,850 --> 00:19:48,020
to Hainan, to Shanghai...
274
00:19:49,860 --> 00:19:56,820
We crossed most of China in hopes
of starting our own Berkshire Hathaway.
275
00:19:57,450 --> 00:20:01,030
But we flew too close to the sun.
276
00:20:01,870 --> 00:20:06,540
The Shenzhen market's rapid changes
killed our company.
277
00:20:07,080 --> 00:20:11,750
We held our final company dinner
over hot pot, just like this.
278
00:20:12,250 --> 00:20:14,920
That day, we didn't drink.
279
00:20:14,960 --> 00:20:16,670
We didn't curse.
280
00:20:17,880 --> 00:20:20,260
We didn't get rowdy or upset.
281
00:20:21,930 --> 00:20:25,350
We didn't even say goodbye.
282
00:20:28,390 --> 00:20:33,150
When it was time to leave,
everyone was deathly quiet,
283
00:20:34,690 --> 00:20:36,280
including Mr. A.
284
00:20:40,570 --> 00:20:44,320
At the end, the one
by Mr. A's side was Li Li.
285
00:20:46,540 --> 00:20:48,450
She was Mr. A's protégé,
286
00:20:49,660 --> 00:20:51,920
and the woman he loved most.
287
00:20:58,460 --> 00:21:01,470
A single misstep leads to many others.
288
00:21:02,720 --> 00:21:07,140
All that hard-won capital
turns into zeroes on a screen.
289
00:21:07,770 --> 00:21:10,060
Blood and sweat, all for nothing.
290
00:21:18,030 --> 00:21:20,530
That's what killed my mentor.
291
00:21:26,830 --> 00:21:29,160
When our portfolio collapsed,
292
00:21:30,580 --> 00:21:34,920
we sold everything at rock-bottom prices
to all sorts of people.
293
00:21:37,630 --> 00:21:39,380
One of them was Ah Bao.
294
00:21:40,920 --> 00:21:44,880
He can stay in his lane,
and I'll stay in mine.
295
00:21:45,260 --> 00:21:47,600
Fighting just hurts both of us.
296
00:21:48,850 --> 00:21:52,440
We're not up against each other.
297
00:21:53,190 --> 00:21:55,270
We're up against the market.
298
00:21:55,690 --> 00:22:00,780
You should ask yourself whether your rival
has any magnanimity.
299
00:22:02,240 --> 00:22:03,820
For Mr. Qiang,
300
00:22:03,820 --> 00:22:09,780
Southern Investments losing out on an IPO
due to his oversight
301
00:22:10,240 --> 00:22:12,870
would be simply unforgivable.
302
00:22:18,460 --> 00:22:20,340
If it were Mr. A,
303
00:22:20,960 --> 00:22:25,550
he'd prioritize the bigger picture
over this lose-lose situation.
304
00:22:26,340 --> 00:22:29,220
He'd extend an olive branch.
305
00:22:30,470 --> 00:22:37,060
Southern would become the underwriter,
but leave you a seat at the table.
306
00:22:40,150 --> 00:22:41,940
Mr. Qiang is different.
307
00:22:43,940 --> 00:22:48,280
He would look you right in the eyes
as he steals your lunch,
308
00:22:48,820 --> 00:22:51,330
then laugh at your loss over dinner.
309
00:22:53,160 --> 00:22:59,750
The man named Ah Bao used ¥500,000
to take a small slice of our pie.
310
00:23:02,210 --> 00:23:05,380
Half a year later, it was worth millions.
311
00:23:05,930 --> 00:23:09,840
And so he became
"Mr. Bao" of Huanghe Road.
312
00:23:12,020 --> 00:23:16,680
You already went bust,
so it's normal to buy out your leftovers.
313
00:23:17,440 --> 00:23:20,940
-He's not the one to blame.
-I hate guys like him.
314
00:23:21,320 --> 00:23:23,480
We call them "corpse-removers."
315
00:23:26,030 --> 00:23:27,780
So, it's revenge for you.
316
00:23:27,820 --> 00:23:29,820
That was a long time ago.
317
00:23:31,950 --> 00:23:34,080
Romantic rivalry.
318
00:23:35,250 --> 00:23:37,000
I only met him recently.
319
00:23:37,000 --> 00:23:38,710
What romantic rivalry?
320
00:23:40,380 --> 00:23:45,590
The moment I got to Shanghai, he called
to ask me to find someone for him.
321
00:23:46,760 --> 00:23:51,800
When studying abroad in Japan, he fell in
love with a waitress from Shanghai.
322
00:23:52,970 --> 00:23:54,430
You mean...Ling Zi?
323
00:23:55,980 --> 00:23:58,440
I should thank him.
324
00:23:58,730 --> 00:24:02,230
Four years ago, in Japan,
325
00:24:02,860 --> 00:24:03,480
Cheers.
326
00:24:03,480 --> 00:24:07,740
Every week, I looked forward to
visiting Ginza with my boss.
327
00:24:08,240 --> 00:24:10,740
There, I could see a special person.
328
00:24:11,320 --> 00:24:14,280
When my visa expired a year later,
329
00:24:15,200 --> 00:24:18,710
a Japanese company
offered a lot of money for me to stay.
330
00:24:18,710 --> 00:24:21,250
I immediately wanted to see this person.
331
00:24:21,250 --> 00:24:25,750
Only for her
would I consider staying in Japan.
332
00:24:26,590 --> 00:24:29,550
Every time we parted ways, we would say,
333
00:24:29,880 --> 00:24:30,930
See you!
334
00:24:32,300 --> 00:24:33,430
See you.
335
00:24:35,930 --> 00:24:40,600
It turned out that "See you"
was just a one-sided wish.
336
00:24:44,570 --> 00:24:48,740
I went to Ginza. But she was gone.
337
00:24:49,030 --> 00:24:50,990
[In Japanese] Where's Reiko?
338
00:24:51,110 --> 00:24:55,530
[In Japanese] You didn't hear?
She went back to Shanghai.
339
00:24:55,830 --> 00:25:00,210
The waitress didn't say goodbye.
Apparently she opened a restaurant.
340
00:25:00,210 --> 00:25:03,120
She was taken away by a man named Ah Bao.
341
00:25:03,380 --> 00:25:06,340
So in that sense, I should thank him.
342
00:25:08,550 --> 00:25:10,420
If it weren't for him,
343
00:25:11,760 --> 00:25:14,050
I might still be in Japan.
344
00:25:15,300 --> 00:25:19,560
I might have missed out on this great era.
345
00:25:22,730 --> 00:25:24,600
Why tell me all this now?
346
00:25:34,240 --> 00:25:36,620
I don't want you left in the dark.
347
00:25:38,240 --> 00:25:41,290
I want you to know what I'm about to do.
348
00:25:42,160 --> 00:25:43,870
Why I'm about to do it.
349
00:25:44,630 --> 00:25:46,380
What the outcome will be.
350
00:25:49,210 --> 00:25:54,220
No one will ever get another chance
to take you away.
351
00:26:00,100 --> 00:26:02,140
Ah Bao didn't take me away.
352
00:26:03,730 --> 00:26:06,230
And I couldn't have made you stay.
353
00:26:10,240 --> 00:26:11,940
But I have to thank you.
354
00:26:14,410 --> 00:26:15,860
Nobody has
355
00:26:17,990 --> 00:26:20,370
ever cherished me so much.
356
00:26:26,580 --> 00:26:28,040
But next time
357
00:26:28,040 --> 00:26:30,920
you want to talk about other people's
matters, leave me out of it.
358
00:26:30,920 --> 00:26:33,460
I have no interest in other people.
359
00:26:33,470 --> 00:26:37,470
Also, our five minute talks
will be at Tokyo Nights only.
360
00:26:37,470 --> 00:26:39,220
Coming out is a hassle.
361
00:26:41,640 --> 00:26:42,810
See you tomorrow.
362
00:26:44,270 --> 00:26:48,270
So, to Mr. Qiang,
this is more than just a transaction.
363
00:26:48,400 --> 00:26:51,520
But that's all there is to it.
Ling Zi's not involved.
364
00:26:51,530 --> 00:26:55,150
Right now I'm just trying
to figure out how to win this battle.
365
00:26:56,360 --> 00:26:57,450
¥200 million.
366
00:26:59,200 --> 00:27:02,330
You need at least that much.
Do you have it?
367
00:27:03,870 --> 00:27:05,410
You're right, I don't.
368
00:27:05,500 --> 00:27:09,130
But I can talk to WD
about doubling their contribution.
369
00:27:09,130 --> 00:27:12,090
If you take on Southern
with high leverage,
370
00:27:12,800 --> 00:27:15,220
and the market starts to drop,
it's practically suicide.
371
00:27:16,510 --> 00:27:17,720
Give it up.
372
00:27:18,550 --> 00:27:20,430
Then I wouldn't be Ah Bao.
373
00:27:26,230 --> 00:27:28,350
No one's good luck lasts forever.
374
00:27:28,360 --> 00:27:30,770
"No rest until I reach Huanghe."
375
00:27:35,440 --> 00:27:36,990
You said it yourself.
376
00:27:43,240 --> 00:27:46,160
You helped Shanghai Fashion get their IPO.
377
00:27:46,370 --> 00:27:49,120
For a long-term investment,
you could just buy their shares.
378
00:27:49,120 --> 00:27:51,880
No need, just for pride, to risk so much.
379
00:27:52,340 --> 00:27:56,170
Shanghai Fashion was an underdog.
Now they're about to IPO.
380
00:27:56,170 --> 00:28:01,430
I started out as a street hawker.
Now I'm a Nanjing Road distributor.
381
00:28:01,430 --> 00:28:04,100
Pride has always been the motivation.
382
00:28:04,100 --> 00:28:06,100
China's stock market is young.
383
00:28:06,100 --> 00:28:09,810
Compared to the future,
every stock is still at rock-bottom.
384
00:28:09,810 --> 00:28:13,690
We're fortunate to live in this era.
So why not seize the chance?
385
00:28:20,410 --> 00:28:22,660
I've heard those words before.
386
00:28:29,080 --> 00:28:32,670
I have a friend.
She can lend you the money.
387
00:28:32,790 --> 00:28:34,250
Just one condition.
388
00:28:35,380 --> 00:28:37,670
Losing it is not an option.
389
00:28:40,220 --> 00:28:43,180
Touch it or not, your call.
390
00:28:52,100 --> 00:28:55,860
By November, China's new
macroeconomic policies bore fruit.
391
00:28:55,860 --> 00:29:00,360
The stock market entered harvest season
after a long drought.
392
00:29:00,780 --> 00:29:04,620
With a record turnover of ¥3.8 billion,
the SSE Composite Index
393
00:29:04,620 --> 00:29:07,870
finally peaked again points.
394
00:29:08,000 --> 00:29:11,160
Acquisitions became the hottest trend.
395
00:29:11,620 --> 00:29:14,040
Big money courted small stocks.
396
00:29:14,210 --> 00:29:19,380
Riding the rebound, I went back to my
roots and started scalping stocks again.
397
00:29:19,380 --> 00:29:22,800
The "Old Eight" stocks have been volatile.
398
00:29:22,840 --> 00:29:26,510
We have a one month window
to make some money there.
399
00:29:26,510 --> 00:29:29,890
Trade one stock a day,
and rotate through the eight.
400
00:29:29,890 --> 00:29:33,230
That's the way we ensure
we don't get trapped.
401
00:29:33,270 --> 00:29:36,940
After Baoying, Mr. Qiang is sure to
attempt more acquisitions.
402
00:29:36,940 --> 00:29:39,150
What can you tell us about
Southern Investments' next move?
403
00:29:39,280 --> 00:29:42,650
Do you plan to arrange
another acquisition in Shanghai?
404
00:29:44,030 --> 00:29:47,490
We profited well from Yingzhou.
405
00:29:48,080 --> 00:29:49,950
Not only did we make money.
406
00:29:50,160 --> 00:29:54,460
We also launched China's
first-ever acquisition.
407
00:29:54,460 --> 00:29:58,210
Next, we invest in our own company.
408
00:29:58,420 --> 00:30:01,220
We'll start by upgrading our profile.
409
00:30:01,420 --> 00:30:05,380
We're moving this office
to the Bund's financial district.
410
00:30:05,390 --> 00:30:10,810
Can't be stingy. Our focus is on landing
wealthy, high-profile clients.
411
00:30:11,230 --> 00:30:14,100
As the Shanghainese say,
it's all about flair.
412
00:30:14,100 --> 00:30:18,230
Have that flair, and the elite will come.
413
00:30:20,190 --> 00:30:24,450
The market is a treasure chest,
and there are countless ways to profit.
414
00:30:24,990 --> 00:30:28,200
Here's a problem for you all.
Try solving it.
415
00:30:29,120 --> 00:30:30,280
Listen carefully.
416
00:30:31,120 --> 00:30:32,370
100...
417
00:30:33,120 --> 00:30:34,330
...653.
418
00:30:35,120 --> 00:30:38,000
Shenhua? Are you sure?
419
00:30:38,630 --> 00:30:43,260
Every trader has habits.
Many favor lucky numbers.
420
00:30:43,800 --> 00:30:45,180
Starting with Baoying,
421
00:30:45,180 --> 00:30:49,050
I noticed Mr. Qiang's orders
all ended in "248."
422
00:30:49,350 --> 00:30:53,640
For a few days, several orders
of 100653 had ended in "248."
423
00:30:53,680 --> 00:30:56,190
That meant Southern had started to buy in.
424
00:30:56,730 --> 00:30:58,730
Why 248?
425
00:30:59,360 --> 00:31:04,150
Because Tokyo Nights' address
was 248 Jinxian Road.
426
00:31:04,950 --> 00:31:08,660
From now on,
to decrease risk and increase profit,
427
00:31:08,660 --> 00:31:11,830
we'll spread out.
428
00:31:12,120 --> 00:31:14,200
Use other companies' order routes.
429
00:31:14,200 --> 00:31:16,120
Enter fast, exit fast.
430
00:31:16,210 --> 00:31:19,130
Our target price is ¥48.
431
00:31:20,540 --> 00:31:21,420
Remember.
432
00:31:21,840 --> 00:31:24,840
On the road to wealth,
safety comes first.
433
00:31:32,260 --> 00:31:34,350
I don't know. Bye.
434
00:31:42,690 --> 00:31:43,610
Hello?
435
00:31:44,530 --> 00:31:45,570
I don't know.
436
00:31:46,110 --> 00:31:47,860
Why so many calls?
437
00:31:48,320 --> 00:31:52,870
Half of them are asking
if you have insider information.
438
00:31:53,160 --> 00:31:55,240
I've stopped being an insider.
439
00:31:55,460 --> 00:31:56,700
I don't have tips.
440
00:31:57,290 --> 00:32:02,790
People think that's a smoke screen,
and you're secretly up to something.
441
00:32:04,000 --> 00:32:05,300
Nonsense.
442
00:32:06,170 --> 00:32:09,260
And the other half? What do they want?
443
00:32:09,300 --> 00:32:12,550
If you can believe it,
help getting a reservation.
444
00:32:13,060 --> 00:32:15,890
What? Reservation where?
445
00:32:16,060 --> 00:32:18,560
At Tokyo Nights.
446
00:32:20,440 --> 00:32:24,690
It's not like it's The Grand Lisbon.
Who needs reservations?
447
00:32:25,440 --> 00:32:29,740
These days, Tokyo Nights
is always fully booked.
448
00:32:34,580 --> 00:32:36,580
I haven't gone in a while.
449
00:32:37,290 --> 00:32:38,290
It's boring.
450
00:32:39,580 --> 00:32:43,170
It lost its soul.
451
00:32:43,630 --> 00:32:46,380
You've been bowling with Mr. Ge instead?
452
00:32:46,380 --> 00:32:49,220
Yeah, but that's boring too.
453
00:32:50,380 --> 00:32:51,880
If you ask me,
454
00:32:52,680 --> 00:32:56,260
every single thing in life is boring.
455
00:32:56,260 --> 00:32:58,680
What's the matter with you?
456
00:32:59,140 --> 00:33:00,180
Imagine this.
457
00:33:00,400 --> 00:33:06,360
One day, while walking around,
you bump into Ling Zi.
458
00:33:07,740 --> 00:33:10,030
You haven't seen her for a while.
459
00:33:10,400 --> 00:33:15,200
You discover she's pregnant,
and you're not the father.
460
00:33:15,580 --> 00:33:16,910
How would you feel?
461
00:33:17,700 --> 00:33:19,080
What are you saying?
462
00:33:19,830 --> 00:33:21,500
Just hypothetically.
463
00:33:24,170 --> 00:33:25,960
Wouldn't it feel awful?
464
00:33:27,380 --> 00:33:28,920
I'd be happy for her.
465
00:33:29,130 --> 00:33:31,340
Well then I'm not like you.
466
00:33:32,180 --> 00:33:34,550
Women can change so quickly.
467
00:33:34,760 --> 00:33:38,640
It's only been a few months
and she's already pregnant.
468
00:33:38,770 --> 00:33:40,140
Who did you run into?
469
00:33:40,140 --> 00:33:41,390
That devil!
470
00:33:41,980 --> 00:33:43,900
Thanks, can I see that outfit?
471
00:33:44,560 --> 00:33:47,940
Nice, I like the fabric.
472
00:33:51,820 --> 00:33:53,570
So cute.
473
00:33:56,080 --> 00:33:57,450
Where'd you see her?
474
00:33:57,490 --> 00:34:01,580
At Hulian Department Store.
You know who I'm talking about?
475
00:34:01,580 --> 00:34:02,960
Of course.
476
00:34:03,210 --> 00:34:07,170
Who else?
She even gave you a key to her place.
477
00:34:08,760 --> 00:34:10,210
I'm pregnant.
478
00:34:17,050 --> 00:34:18,470
So fast.
479
00:34:22,890 --> 00:34:27,360
Honestly, Mr. Tu is the best.
480
00:34:34,070 --> 00:34:37,410
You got a lot of free time,
shopping at Hulian.
481
00:34:37,660 --> 00:34:39,700
It's my wife.
482
00:34:39,700 --> 00:34:44,080
She goes three times a month
to buy gifts for friends.
483
00:34:44,120 --> 00:34:49,960
And then it backfires on me!
How is that fair?
484
00:34:51,130 --> 00:34:52,550
Buying something?
485
00:34:54,050 --> 00:34:58,010
My friend just had a baby,
so I'm getting some presents.
486
00:34:58,350 --> 00:34:59,390
Where's Fang Mei?
487
00:35:01,310 --> 00:35:02,970
In the restroom.
488
00:35:06,140 --> 00:35:10,150
You're doing ok?
489
00:35:13,440 --> 00:35:14,610
I'm fine.
490
00:35:19,870 --> 00:35:21,580
What's doing ok?
491
00:35:21,580 --> 00:35:23,500
I'm always like this.
492
00:35:23,870 --> 00:35:24,960
Babe.
493
00:35:28,790 --> 00:35:30,340
I have to go.
494
00:35:30,540 --> 00:35:31,590
Bye.
495
00:35:32,170 --> 00:35:33,800
-Bye.
-An ex?
496
00:35:33,840 --> 00:35:36,680
Of course not. Just an old neighbor.
497
00:35:36,800 --> 00:35:38,680
What do you want for lunch?
498
00:35:44,390 --> 00:35:45,520
Why?
499
00:35:45,680 --> 00:35:47,100
Disgusting.
500
00:35:47,310 --> 00:35:48,310
Who?
501
00:35:48,310 --> 00:35:50,100
Just talking about myself.
502
00:35:50,110 --> 00:35:53,650
Babe, aren't these cute? Look!
503
00:35:53,650 --> 00:35:56,190
What for? For our non-existent kids?
504
00:35:56,280 --> 00:35:59,410
Where are you going?
505
00:35:59,570 --> 00:36:02,200
Here you go, look all you want.
506
00:36:02,370 --> 00:36:05,660
Why would you say that to her?
That's hurtful.
507
00:36:05,700 --> 00:36:09,880
Am I wrong? We don't have kids,
so why look at that stuff?
508
00:36:09,880 --> 00:36:12,880
-Have you always shopped together?
-No.
509
00:36:13,250 --> 00:36:15,050
She's hinting.
510
00:36:15,340 --> 00:36:17,130
Hinting what?
511
00:36:17,340 --> 00:36:21,050
I would know if she's pregnant.
And she can't keep a secret.
512
00:36:21,100 --> 00:36:23,260
She would have told me already.
513
00:36:24,430 --> 00:36:26,980
Go home to her. Stop staying out so much.
514
00:36:26,980 --> 00:36:30,600
Absolutely not! I'd just get yelled at.
515
00:36:31,610 --> 00:36:37,240
Her mother's coming
with a couple cousins for New Year's.
516
00:36:38,200 --> 00:36:39,610
It'll be so noisy.
517
00:36:39,950 --> 00:36:41,030
My home--
518
00:36:41,450 --> 00:36:42,490
Hey, listen.
519
00:36:42,490 --> 00:36:44,990
Four women! It'll be miserable.
520
00:36:45,870 --> 00:36:48,870
Go home? No thanks.
521
00:36:54,250 --> 00:36:56,590
-Want a ride?
-Nah.
522
00:36:56,670 --> 00:36:58,300
Not like I'm going home.
523
00:36:58,300 --> 00:36:59,470
Where are you going?
524
00:36:59,470 --> 00:37:01,340
Bowling.
525
00:37:02,090 --> 00:37:03,260
Want to come?
526
00:37:03,300 --> 00:37:05,850
No, I'm going to bed.
527
00:37:06,810 --> 00:37:08,140
Well, I'm off then.
528
00:37:21,820 --> 00:37:23,030
How much?
529
00:37:24,700 --> 00:37:26,200
Just ¥200.
530
00:37:32,960 --> 00:37:34,750
You know how it is.
531
00:37:34,960 --> 00:37:38,960
Thanks to Fang Mei,
I don't have any spending money.
532
00:37:39,460 --> 00:37:41,130
I'm like a naked goose.
533
00:37:41,420 --> 00:37:45,260
Every time I grow a feather,
she just plucks me clean.
534
00:37:49,310 --> 00:37:50,560
Is that enough?
535
00:37:51,600 --> 00:37:52,730
Yeah.
536
00:37:54,440 --> 00:37:55,730
Then go.
537
00:37:57,940 --> 00:38:00,150
A bit more wouldn't hurt.
538
00:38:09,120 --> 00:38:10,950
This is all I have on me.
539
00:38:11,290 --> 00:38:12,500
Hide it well.
540
00:38:15,920 --> 00:38:17,000
Thanks.
541
00:38:21,460 --> 00:38:23,550
You can have this ¥200 back.
542
00:38:24,340 --> 00:38:25,380
Thanks.
543
00:38:25,390 --> 00:38:28,010
Friends pay each other back.
544
00:38:28,260 --> 00:38:32,890
Good thing your wife plucks your feathers.
Or else you'd have flown away.
545
00:38:36,770 --> 00:38:39,190
Hey, I have wings.
546
00:38:39,780 --> 00:38:41,570
I can fly.
547
00:39:18,690 --> 00:39:24,400
I'm but a little,
little, little, little bird,
548
00:39:25,820 --> 00:39:28,160
I want to fly and fly,
549
00:39:28,620 --> 00:39:32,120
But I can't fly very high!
550
00:39:45,010 --> 00:39:48,930
Everyone wants to fly,
but life brings sudden winds.
551
00:39:51,260 --> 00:39:54,470
A storm was brewing.
552
00:39:55,850 --> 00:39:57,770
Uncle Ye, a letter for you.
553
00:39:57,810 --> 00:39:58,940
Thanks.
554
00:40:00,060 --> 00:40:01,110
No need.
555
00:40:01,150 --> 00:40:05,740
The letter's sender
already tipped me ¥100.
556
00:40:05,780 --> 00:40:08,240
I was asked to deliver it immediately.
557
00:40:21,880 --> 00:40:23,880
Get out. As fast as you can.
558
00:40:24,460 --> 00:40:26,670
December 17, 1993.
559
00:40:26,720 --> 00:40:30,010
In response to
the recent stock market volatility,
560
00:40:30,010 --> 00:40:34,100
the Securities Regulatory Commission
announced new regulations.
561
00:40:34,180 --> 00:40:36,270
They cracked down on domestic stocks
562
00:40:36,270 --> 00:40:39,390
which IPO-ed in the boom
of institutional trading
563
00:40:39,400 --> 00:40:41,400
by regulating bonus shares
and rights issues.
564
00:40:41,440 --> 00:40:43,650
Credit funds entering the market
565
00:40:43,730 --> 00:40:47,780
and market manipulation schemes
were thoroughly investigated.
566
00:40:47,780 --> 00:40:48,940
As news broke,
567
00:40:48,990 --> 00:40:53,700
the SSE Index fell below 777
on Monday, December 20th
568
00:40:53,780 --> 00:40:57,330
Trading plummeted,
and the market cooled rapidly.
569
00:40:57,620 --> 00:41:00,210
everyone wanted to get ride
of their shares
570
00:41:00,210 --> 00:41:02,960
One-third of our funds evaporated.
571
00:41:05,130 --> 00:41:06,710
Listen to the authorities.
572
00:41:06,710 --> 00:41:12,550
They warned time and time again
that the stock market is risky.
573
00:41:12,600 --> 00:41:15,300
You didn't listen, so now you're trapped.
574
00:41:15,310 --> 00:41:20,480
The stock market is simple.
Three words: "Follow the rules."
575
00:41:20,690 --> 00:41:25,360
Due to Qiang's power plays,
Southern was also pulled into this storm.
576
00:41:25,360 --> 00:41:28,150
Don't show me this!
What's our profit and loss?
577
00:41:28,150 --> 00:41:31,820
The market's down by a third.
578
00:41:31,860 --> 00:41:34,870
Meanwhile, we're down 40%...
579
00:41:34,950 --> 00:41:37,580
Everyone's taking losses, not just me.
580
00:41:37,870 --> 00:41:41,250
Forget winning or losing.
This is life or death!
581
00:41:41,250 --> 00:41:44,330
First we have to stay alive.
Any word from authorities?
582
00:41:44,340 --> 00:41:46,000
They have their eyes on us.
583
00:41:46,000 --> 00:41:49,800
Due to our frequent trading of Shenhua,
they suspect us of market manipulation.
584
00:41:49,880 --> 00:41:54,260
We must submit a detailed report
of our Shenhua dealings,
585
00:41:54,300 --> 00:41:58,180
including every transaction
and every funding source.
586
00:41:58,220 --> 00:42:00,720
They need it by tomorrow's market close.
587
00:42:00,730 --> 00:42:04,980
They'll review the report before
proceeding with the investigation.
588
00:42:04,980 --> 00:42:06,560
Shenzhen headquarters called.
589
00:42:06,560 --> 00:42:09,230
They're sending backup tomorrow.
590
00:42:09,820 --> 00:42:11,690
Tell them not to meddle.
591
00:42:11,780 --> 00:42:13,150
Call them right now.
592
00:42:14,490 --> 00:42:15,620
You hear me?
593
00:42:15,740 --> 00:42:17,120
Right now!
594
00:42:21,120 --> 00:42:23,500
We've been hit hard.
595
00:42:23,920 --> 00:42:28,460
The overall fund lost 10%. Accounting
for leverage, we lost 20%.
596
00:42:28,670 --> 00:42:31,920
Just like that,
¥6 million gone in an instant.
597
00:42:32,630 --> 00:42:36,800
As they say,
"It's one damned thing after another."
598
00:42:36,930 --> 00:42:39,430
It will probably keep falling tomorrow.
599
00:42:39,430 --> 00:42:43,980
If it falls another 20%,
that's another ¥5.4 million gone.
600
00:42:45,230 --> 00:42:49,150
That's like driving ten Mercedes
right into the Huangpu River.
601
00:42:49,150 --> 00:42:52,570
If this goes on,
Ah Bao might jump in after them.
602
00:42:54,860 --> 00:42:56,200
Don't jinx it.
603
00:42:56,200 --> 00:42:58,990
He wouldn't be the only one.
604
00:42:59,410 --> 00:43:01,580
They're investigating two things.
605
00:43:01,950 --> 00:43:06,580
One, did our high frequency trades
constitute market manipulation?
606
00:43:06,580 --> 00:43:10,210
We can check for ourselves.
This is not my main concern.
607
00:43:10,210 --> 00:43:14,510
We were trying to save ourselves
in a crashing market.
608
00:43:14,920 --> 00:43:16,090
The real problem
609
00:43:16,090 --> 00:43:19,760
is the new ban on credit funds
and interbank loans.
610
00:43:19,760 --> 00:43:21,430
That could kill us.
611
00:43:21,760 --> 00:43:25,940
-We urgently need a way around it.
-How? They're watching us like a hawk.
612
00:43:25,940 --> 00:43:29,520
I told you to think of something!
Every single one of you, figure it out!
613
00:43:29,520 --> 00:43:31,940
I don't care how, just deliver!
614
00:43:33,070 --> 00:43:36,450
Go for wool, come back shorn.
You lost bad this round.
615
00:43:36,450 --> 00:43:38,660
You're in a tight spot.
616
00:43:38,910 --> 00:43:42,200
Just forget about Shanghai Fashion.
617
00:43:42,490 --> 00:43:46,910
We might be in for
a repeat of the Black Thursday crash.
618
00:43:47,290 --> 00:43:50,540
The year's ending.
Cash is tight for everyone.
619
00:43:50,590 --> 00:43:52,800
Who will lend you the money?
620
00:43:52,800 --> 00:43:55,630
Let Southern have Shanghai Fashion
if they want.
621
00:43:55,630 --> 00:43:57,720
Your pride's not that important.
622
00:43:58,260 --> 00:43:59,800
A million shares
623
00:44:00,640 --> 00:44:01,890
is not great.
624
00:44:02,010 --> 00:44:03,930
It's not bad either.
625
00:44:04,060 --> 00:44:08,270
Sure, we're losing capital,
but so is Mr. Qiang and Southern.
626
00:44:08,900 --> 00:44:11,100
Everyone's going through it.
627
00:44:12,150 --> 00:44:16,110
What's there to explain?
An explanation implies guilt.
628
00:44:16,110 --> 00:44:19,910
Standing firmly at Southern tomorrow
is the best defense.
629
00:44:20,240 --> 00:44:22,530
You should have confidence in me.
630
00:44:23,660 --> 00:44:27,540
In the end, the company calls the shots.
631
00:44:28,250 --> 00:44:32,840
A single letter of termination
can seal your fate.
632
00:44:34,500 --> 00:44:37,010
Every bird waits for favorable wind.
633
00:44:37,170 --> 00:44:40,840
Ride the right ONE,
and it's smooth sailing.
634
00:44:41,470 --> 00:44:44,810
Fly into a gale
and it's complete destruction.
635
00:44:46,850 --> 00:44:48,520
The wind was picking up.
636
00:44:48,980 --> 00:44:51,480
That night offered no shortcuts.
637
00:44:52,520 --> 00:44:53,940
Only mazes.