Blossoms Shanghai Recap, Plot, Synopsis
Blossoms Shanghai Synopsis
In 1992, the reform and opening up occur in all over China. Shanghai Huanghe Road food street merchants gathered, the most successful is the businessman A Bao, he and Li Li from mutual conflict to the business partner, from clothing, machinery, to finance, every business cause a sensation on the Shanghai Bund.
Bao and Li Li also developed feelings during the cooperation. On the other hand, the owner of a small restaurant on Jinxian Road, Lingzi, and Foreign Trade Company, Miss Wang, who has been giving help and support to Mr. Bao for many years, also loved Mr. Bao.
When the real estate was booming and unprecedented opportunities were in front of him, Mr. Bao hesitated to believe Li Li when he was told that Li Li might be trying to cheat him.
But in the end, Mr. Bao still believes that the most basic credo is trust, no matter between men's and women’s emotions or in the business world.
Blossoms Shanghai Recap
Episode 1 Recap
In 1992 Shanghai, a bustling metropolis, A Bao, a young man with grand ambitions, was navigating the city's vibrant yet tumultuous business world. The stock market was booming, fueled by China's accelerated reforms following Deng Xiaoping's Southern Tour. On December 31st, A Bao left the Peace Hotel with 300,000 yuan in cash to welcome the new year.
As he was about to get into his car, he was struck by a speeding taxi, which then fled the scene, leaving his money scattered on the ground. A Bao was rushed to the hospital, where he was attended by medical personnel including Ge Laoshi. News of his accident quickly spread, drawing a chaotic crowd of friends and associates, including stock big shot Cai Siling, Post Stamp Li, his godmother Fat Aunt, and Jin Bao.
The situation was brought under control only by the arrival of Ye Shu, a seasoned business veteran who calmly declared A Bao would survive. Despite being unconscious from severe blood loss, A Bao eventually stabilized. Ye Shu, A Bao's first major benefactor, had a history with him dating back to 1987. That year, Ye Shu, fresh out of Tilanqiao Prison, was approached by A Bao, who was seeking guidance on foreign trade.
Initially dismissive of A Bao's inexperience, referring to him as a "friend's grandson," Ye Shu eventually challenged him to rent a room at the Peace Hotel. The next day, A Bao, with Ye Shu, rented a British Suite—Ye Shu's old long-term room—for eighty US dollars and two packs of Zhonghua cigarettes. Ye Shu then demanded A Bao borrow 6,000 yuan by the end of the day, threatening to abandon him if he failed.
A Bao turned to his good friend Tao Tao, who, despite family objections, gave him her entire wedding savings. Following Ye Shu's instructions, A Bao used the money to purchase Electric Vacuum shares. At that time, the stock market was nascent, with no formal exchange, and transactions were conducted through "yellow cows" (brokers) at Xikang Road 101.
A Bao initially bought forty shares at 150 yuan each from a yellow cow, but the stock price soon plummeted by 3,000 yuan due to a new share issuance. A Bao confronted Ye Shu, who emphasized the importance of learning to lose first. Ye Shu then instructed him to raise another 10,000 yuan within a week to buy more Electric Vacuum shares, promising significant profits in two weeks.
Tao Tao again helped A Bao by selling her necklace and jewelry to raise 7,000 yuan. A Bao purchased more shares from yellow cow Post Stamp Li. Ten days later, Electric Vacuum was acquired, and its stock price quintupled. A Bao, now holding a bag full of profits, met Ye Shu, who, impressed by his reliability, agreed to continue their partnership.
Ye Shu orchestrated A Bao's complete transformation, commissioning bespoke three-piece suits from a "Red Gang" tailor and a fashionable new haircut from a Yangzhou barber. He also had A Bao register a company, thus rebranding him as "Boss Bao" (Bao Zong). Over the next few years, A Bao, capitalizing on the opportunities of reform and opening up, rapidly accumulated wealth through various ventures, from foreign trade to bonds and arbitrage.
Back in 1992, police began investigating A Bao's accident, suspecting it was retaliation related to the "414 stock." They questioned Ye Shu, Tao Tao, Cai Siling, Ling Zi, and Wang Mingzhu. A Bao and Ling Zi were business partners who jointly owned the "Ye Tokyo" restaurant, a purely professional relationship.
Wang Mingzhu, a saleswoman from a foreign trade company, was also closely associated with A Bao; Tao Tao had even mentioned her as A Bao's rumored girlfriend, though Wang Mingzhu clarified their relationship was strictly work-related and asserted the 300,000 yuan A Bao carried during the accident was for her. None of them had a clear motive to harm A Bao.
Cai Siling, who had introduced A Bao to major brokerage houses, noted the ongoing rivalry between Shanghai and Shenzhen stock market factions, with many following A Bao to profit. When Cai Siling, Fat Aunt, and Jin Bao visited the hospital, they discovered A Bao had already been discharged. Ye Shu, suspecting a deeper plot, instructed A Bao to stay in his room for a month, assuring him that this period was crucial for uncovering the truth behind the attack.
A Bao complied, using the time to rest and strengthen his body. Ye Shu's investigation led him to suspect the absconding proprietress of the Jin Feng Huang restaurant. He learned from Post Stamp Li that the restaurant had been transferred. Three months prior, a woman named Li Li arrived in Shanghai, discovering the highly profitable Jin Feng Huang had recently closed. She acquired the premises, transformed it, and reopened it as "Zhi Zhen Yuan," which quickly became a thriving success.
Li Li, having heard of A Bao's prominence on Huang He Road, sought to invite him to "hold the fort" for her establishment. She learned from the former lobby manager that six months earlier, Shanghai's largest brokerage firm, Qilin She, had approached A Bao for a partnership regarding the "414 stock." A Bao's refusal had offended Qilin She.
Li Li also analyzed A Bao's associates and decided to use Fan Xinhua, the original owner of Jin Feng Huang, as an intermediary. It became apparent that A Bao's accident and the Jin Feng Huang owner's disappearance were connected to the "414 stock," a stock A Bao had not invested in. The proprietress of Jin Feng Huang, described as A Bao's "nominal girlfriend," was believed to have betrayed him, suggesting A Bao had offended more than just Qilin She.
As the one-month period set by Ye Shu concluded, Ling Zi contacted A Bao, revealing he had found the perpetrator of the hit-and-run. A Bao, after a quick tidy-up, recognized the taxi and its driver, Fa Gen's son, A Si, who had lost all his money in the stock market. A Bao finally understood everything.
Episode 2 Recap
After A Bao was hit by a car, Ling Zi, whose residence A Bao visited, reported on his recent stock earnings. Ling Zi faced numerous inquiries, with 30-40 people, including debtors seeking information and creditors demanding repayment, coming to him. This forced Ling Zi to settle A Bao's outstanding debts and provide A Bao with a list of these creditors. A man claiming to be Chen Liang repeatedly called Ling Zi to inquire about A Bao's condition.
Ling Zi clearly recalled that the real Chen Liang had previously borrowed money from him to buy crickets and had repaid it, but Ling Zi later discovered that Chen Liang had lied during a phone conversation. Suspecting the caller was an imposter and that this person was scheduled for a meeting that night, Ling Zi deliberately revealed that A Bao would be at Night Tokyo at 11 PM.
A Bao later recognized the imposter as Fa Gen’s son, A Si, who was in the taxi, and understood the reason behind the collision. Ye Shu, upon learning A Bao had left the Peace Hotel, immediately contacted Wang Mingzhu, who scheduled a meeting with Ye Shu for that evening. Ling Zi also received a notification about a meeting that night.
A Bao's financial journey began in 1990 when the Shanghai and Shenzhen stock exchanges officially started operations, initially leading to a frenzy. Two years later, the initial public offering (IPO) subscription certificates for Shanghai A-shares, priced at 30 yuan each, saw low sales. On the final day, however, major investors calculated that if 2 million certificates were issued, the costs could be amortized across the actual shares, leading to a sudden rush with sales points becoming packed.
A Bao, who was in Anhui collecting treasury bonds, rushed back to Shanghai overnight. He managed to buy the subscription certificates at Xikang Road just five minutes before the deadline. Four months later, these certificates appreciated 160-fold, making A Bao wealthy and establishing him as a major investor, gaining him access to the major investors' room. The Qilin Society, led by Wu Yisheng, noticed A Bao's success and offered him an opportunity.
Wu Yisheng highly recommended an out-of-town stock, 414, guaranteeing it would rise from 25 to 40 yuan, and revealed its listing price to test A Bao and Cai Siling's discretion, warning them not to leak the news. A Bao publicly analyzed 414, believing it lacked potential, while pointing out other quality stocks.
Subsequently, Ye Shu deduced that Wu Yisheng was playing a trick, using A Bao as a pawn, and that the 414 scheme was designed to profit from the stock market while implicating A Bao and Cai Siling. Soon, rumors, attributed to Jin Fenghuang (a singer who often drank with A Bao and was rumored to be his girlfriend, though A Bao considered this a mere gimmick), spread that the Qilin Society and A Bao were cooperating to buy 414.
A call confirmed someone had failed the secrecy test, buying 414 early at a low price and profiting. Cai Siling, an acquaintance of Jin Fenghuang, cautioned people against buying 414 at any price. However, Jin Fenghuang, against Cai Siling's advice, told others she would continue buying 414 to profit significantly. When 414 opened, it initially soared, leading to frantic buying. Youpiao Li and Cai Siling, heeding A Bao's warning, held back.
However, the stock then plummeted from 36 yuan and remained there, causing Jin Fenghuang and all her family and friends to go bankrupt, making her the primary blamed culprit. Fa Gen secretly bought 414 against Cai Siling's warning, lost everything, and died in a taxi due to a myocardial infarction caused by the stock crash. The Qilin Society's widespread rumors further cemented A Bao as the scapegoat for Fa Gen's death.
Ye Shu advised A Bao to quickly distance himself from Jin Fenghuang, as anyone who lost money on 414 would blame A Bao. Jin Fenghuang secretly hid in a small hotel. Cai Siling, who had orchestrated the entire scheme, including Fa Gen's death and framing A Bao, gave Jin Fenghuang a substantial check, after which she departed from Shanghai. The police confirmed Fa Gen's son, A Si, as the culprit and arrested him.
However, Ye Shu, showing compassion, wanted clearer evidence. A Bao revealed he had prepared 300,000 yuan for Fa Gen's family just before being hit, but Fa Gen tragically died by suicide due to a myocardial infarction caused by the stock crash. A Bao later gave this 300,000 yuan to Cai Siling. A Bao understood A Si's resentment, acknowledging that for ordinary workers, stock failure meant utter ruin.
He admired A Si's efforts to return his father's body to their hometown for burial. On the fourth day of Chinese New Year, Night Tokyo was bustling. A Bao, typically a visitor to greet the God of Wealth, was awaited by Fan Xinhua and Lu Meilin (owner of Jin Meilin Hotel) but did not appear, leading them to chat amongst themselves.
Youpiao Li and Pang Ayi also sought A Bao, but Ye Shu, anticipating their intentions, offered them compensation to keep them from bothering A Bao further. Youpiao Li, however, refused to abandon his "cash cow," claiming he only wished to offer New Year greetings. A Bao, who had been hiding in a private room at Night Tokyo, heard the commotion and received complaints from an overwhelmed Ling Zi.
After sending Cai Siling away, A Bao returned to the Peace Hotel to see Ye Shu. A Bao and Cai Siling had previously met at Ling Zi's bar where they discussed Fa Gen's son hitting A Bao, and Ye Shu had anticipated Qilin Society would contact A Bao, understanding their motives and Cai Siling's actions. Cai Siling had confronted Wu Yisheng to defend A Bao, but Wu Yisheng insisted A Bao had leaked the 414 stock information.
Cai Siling, despite having blamed Fa Gen's son, knew A Bao was innocent, but A Bao, recalling Cai Siling's help in getting him into the major investors' room, was willing to take the blame. Cai Siling later inquired of the Qilin Society chairman why A Bao was suspected when only 13 insiders knew the 414 listing price.
The chairman replied that A Bao and Cai Siling were newcomers, implying this was why the information was leaked, and since Jin Fenghuang's source was unknown but her connection to A Bao was widely known, A Bao was expelled from the Qilin Society. A Bao understood Cai Siling's parting words were a warning from the Qilin Society.
Ling Zi, secretly in love with A Bao but too shy to confess, served special dishes like "Eight Immortals Crossing the Sea" to guests. He had purchased a bracelet specifically to impress A Bao, and it did catch his attention. After A Bao left, Ling Zi drank from his unfinished beer. Ye Shu, upon learning A Bao had left the Peace Hotel, immediately contacted Wang Mingzhu, who scheduled a meeting with Ye Shu for that evening.
Wang Mingzhu later visited Night Tokyo, where Fan Xinhua pressed her for A Bao's whereabouts. She informed him that A Bao would meet him at Honglu Restaurant at 7 PM the following night. Fan Xinhua, overjoyed, celebrated at the Jin Meilin Hotel, located opposite Zhi Zhen Yuan, and received congratulations from Lu Meilin, the hotel owner.
Li Li, the owner of Zhi Zhen Yuan, who sent daily invitations to A Bao and was actively seeking collaboration with him, instantly learned of A Bao's impending meeting with Fan Xinhua and proactively sent her lobby manager to invite Fan Xinhua to Zhi Zhen Yuan's opening ceremony. Fan Xinhua was delighted, and others envied his invitation. Ye Shu suspected Li Li's intentions, asking Youpiao Li to monitor her.
Li Li later arranged fireworks at Zhi Zhen Yuan, prompting Lu Meilin and other restaurant owners on Huanghe Road to set off firecrackers in front of their establishments, making the street bright and lively.
Episode 3 Recap
A Bao visited Fa Gen's wife, who expressed regret for not persuading Fa Gen to cut his losses earlier, as he ultimately lost his life due to his stock market investments. Fa Gen, like A Bao, was among the first wave of people who grew wealthy through stocks. Many followed Fa Gen's lead, investing in stock 414, which resulted in devastating losses. Unable to face those who had lost everything because of him, Fa Gen chose to commit suicide.
Later, with the help of a lawyer and A Bao's understanding, Fa Gen's son received a reduced sentence of 10 years for a DUI offense. Ye Shu advised A Bao to return the money to investors like "Fat Auntie" and "Little Ningbo," and to use the favorable stock market conditions to quickly sell off holdings and disband their stock trading group, warning A Bao not to be ensnared by personal ties or women.
A Bao, however, was concerned that these individuals might incur greater losses if left to trade independently. It was also revealed that A Bao had been frequently overcharged at Ling Zi’s restaurant, Night Tokyo. On the fourth day of Chinese New Year, a day traditionally dedicated to welcoming the God of Wealth, Zhi Zhen Yuan celebrated its grand opening with great fanfare, while A Bao opted to stay home with friends.
Ling Hong, who owned a boutique where Ling Zi often purchased luxury goods, noticed Night Tokyo was nearly empty. Upon inquiring, Ling Zi discovered that Zhi Zhen Yuan had just opened, and many pre-booked customers had gone there instead, leaving Ling Zi indignant. Zhi Zhen Yuan hosted numerous celebrities and prominent figures, including the famous actor Wen Zhaolun, quickly establishing its reputation and attracting significant media attention.
Li Li, a woman from Qingdao, was behind Zhi Zhen Yuan, having acquired it with a capital flow of 30 million yuan, and it was now generating an impressive annual profit of 10 million yuan. She had strong backing, and many influential figures were using Zhi Zhen Yuan for business discussions.
A Bao was skeptical about the restaurant's immediate success, but Ye Shu, analyzing its strategic location on Huanghe Road, pointed out Li Li's clear intention to draw A Bao in. A Bao understood that Li Li was using him to gain publicity. Meanwhile, Lu Meilin, irritated by the constant flow of guests at Zhi Zhen Yuan, caused disruptions, which Pan Jingli tried in vain to mediate.
Ye Shu encouraged A Bao to attend the opening, but A Bao was reluctant to lend his support to Li Li. Fan Xinhua arrived early at Zhi Zhen Yuan, where Pan Jingli had reserved a private room for him. Fan Xinhua earnestly pleaded with Wang Mingzhu to invite A Bao to Zhi Zhen Yuan, promising to visit Hong Lu at another time. Wang Mingzhu reluctantly agreed to contact A Bao. However, Li Li reclaimed Fan Xinhua's reserved room.
Fan Xinhua, concerned A Bao wouldn't have a place, was reassured by Li Li, who promised to keep the room for him if he guaranteed not to leave Zhi Zhen Yuan. A Bao, agreeing to Wang Mingzhu's invitation, decided to meet Fan Xinhua at Hong Lu, not Zhi Zhen Yuan, a fact Ye Shu was aware of, preparing a gift for A Bao to take. A Bao arrived at Hong Lu, immediately drawing the attention of onlookers.
Across the street, Wei Hongqing arrived at Zhi Zhen Yuan, bringing a commemorative plaque. A Bao looked toward Zhi Zhen Yuan, and Li Li, observing him, instructed her assistant to reassign the room initially reserved for A Bao to Wei Hongqing. Pan Jingli noted the stark difference in status between Wei Hongqing and A Bao. Li Li then asked Fan Xinhua to vacate his private room.
A Bao believed that meeting at the originally agreed location was a fundamental matter of credibility. Li Li escorted Wei Hongqing into the room and secretly instructed her assistant to investigate Fan Xinhua's background. Wang Mingzhu and A Bao decided to wait for Fan Xinhua for 30 minutes. Exploiting A Bao's need, Li Li deliberately kept Fan Xinhua at Zhi Zhen Yuan, preventing him from leaving.
Tao Tao, sent by Wang Mingzhu, arrived to invite Fan Xinhua to meet A Bao. To Tao Tao's frustration, Fan Xinhua insisted that A Bao come to Zhi Zhen Yuan instead. Wei Hongqing's assistant also arrived at Hong Lu with a group, urging A Bao to come to Zhi Zhen Yuan. A Bao declared that Tao Tao was his friend, and Tao Tao's words were his own.
When the group persisted in trying to persuade him, A Bao, losing patience, became angry and left. He sent Tao Tao home with his car and escorted Wang Mingzhu. One of Xiao Liuzi's subordinates spoke disrespectfully to Wang Mingzhu, prompting A Bao to slap the man firmly and tell Xiao Liuzi to relay a message to Fan Xinhua.
A Bao speculated that Fan Xinhua was captivated by Li Li, who was likely helping him connect with new clients, but A Bao claimed he didn't care. He also surmised that Fan Xinhua intended to use Zhi Zhen Yuan to boost his own image, predicting his eventual downfall.
Ye Shu analyzed Fan Xinhua's reversal—initially seeking A Bao but then collaborating with Zhi Zhen Yuan—as a sign that the two were set to work together, with Zhi Zhen Yuan likely taking a commission, and that Wei Hongqing was probably aligned with Li Li. Later, the head server complained to Li Li about Min Min's "enthusiastic" hostessing and makeup, accusing Min Min of flirting with guests. Li Li dismissed the complaint, praising Min Min's outstanding qualities.
She reprimanded the head server and promoted Min Min to head server, instructing her to speak less, do more, and focus on gathering intelligence on Huanghe Road. The head server was subsequently fired. Following this, Fan Xinhua began visiting Zhi Zhen Yuan daily, always met with a warm welcome from Li Li. Wei Hongqing actively sought to collaborate with Fan Xinhua, who initially hesitated. Li Li personally intervened to broker their partnership.
Wang Mingzhu then arrived, and Li Li quickly found an excuse to leave. Wang Mingzhu informed Fan Xinhua that she had successfully secured export quotas for the "San Yang" brand apparel for him, warning him against partnering with Wei Hongqing. This enraged Wei Hongqing. Through Wang Mingzhu's mediation, Fan Xinhua agreed to add one yuan to the wholesale price, but A Bao adamantly refused, insisting instead on a one-yuan deduction.
The next day, Wang Mingzhu told A Bao that Li Li was skillfully placating both sides, regardless of A Bao's actions. A Bao, having devised a plan, again declined Li Li's invitation. Upon learning that A Bao had not honored their appointment, Li Li informed Wei Hongqing that he could either be one of nine partners or the sole partner, with the condition that to be the sole partner, he should not bring friends but only invite the media.
Li Li then deliberately spread news of Fan Xinhua's collaboration with Wei Hongqing, effectively leaving Fan Xinhua no retreat. Wang Mingzhu, concerned that Fan Xinhua might steal A Bao's business, relayed this gossip to A Bao, who remained unconcerned. A Bao later met old friends at Night Tokyo, where he also arranged to meet a mysterious client.
Wei Hongqing continued to pursue A Bao's business, but A Bao, ever shrewd, used various excuses to delay, subtly pressuring Wei Hongqing to come to him. Li Li, in turn, offered assistance to Wei Hongqing, advising him to prioritize business over friendship, using the pretext of boosting Zhi Zhen Yuan's trade. A Bao intentionally prolonged Fan Xinhua's wait, making him increasingly anxious.
Eventually, Wang Mingzhu, feeling Fan Xinhua had reneged on their agreement, went to Zhi Zhen Yuan to confront him about his lack of integrity. They argued, during which she gathered valuable information about Fan Xinhua's plan to increase prices, a move A Bao had already anticipated.
Episode 4 Recap
Wei Hongqing made extensive efforts to curry favor with Fan Xinhua, hoping to collaborate on a business deal, even calling and scolding Xiao Liuzi over the phone. Fan Xinhua apologized to Wei Hongqing for Wang Mingzhu's unintentional actions, but remained unyielding on their potential partnership. After a lavish meal, Wang Mingzhu proactively offered to drive Fan Xinhua home. Wei Hongqing spoke disrespectfully to her, prompting Wang Mingzhu to warn him against stealing A Bao's business.
Li Li was visibly annoyed by Wang Mingzhu's unannounced visit to Zhi Zhen Yuan, greeting her with sarcasm. She understood that for Zhi Zhen Yuan to establish itself, it needed the support of prominent figures, and she knew Fan Xinhua's business would undoubtedly draw A Bao's attention, compelling him to visit Zhi Zhen Yuan. Wang Mingzhu delivered Fan Xinhua to his residence, arranging a meeting for him with A Bao at 6:30 PM the following evening.
Fan Xinhua insisted on his own quoted price, claiming many were eager to do business with him. Earlier, Fan Xinhua had attempted to raise his product price by one RMB per piece, but A Bao had directly rejected it, effectively teaching Zhi Zhen Yuan a lesson about the rules of Huanghe Road. Feeling resentful about losing a client, Wei Hongqing declared he would stake out Zhi Zhen Yuan daily.
Li Li watched his retreating figure, an almost imperceptible smile gracing her lips. Twelve hours prior, Li Li had instructed Pan Manager to pay 200 RMB to a cleaning worker to deliver a gift to Fan Xinhua. The cleaning worker then offered to tidy Fan Xinhua's room. Fan Xinhua, excusing himself to drink coffee, left the room, specifically reminding the worker not to touch documents on his desk.
Wei Hongqing subsequently bribed the cleaning worker to extract details about Fan Xinhua's background. Li Li had deliberately withheld specific business details from Wei Hongqing, fearing it might affect Zhi Zhen Yuan's customer traffic, relying on him to secure the deal. Meanwhile, Ling Zi scheduled a shareholder meeting with A Bao in Zhujiajiao, where A Bao's favorite stinky tofu could be found. He reported on the operations of Ye Dongjing.
A Bao asked Ling Zi to handle the accounting, which infuriated Ling Zi. While outsiders perceived A Bao as wealthy, only Ling Zi knew his financial struggles, often stepping in to help him out of predicaments. Ling Zi recalled how he had supported A Bao when he was hospitalized, picking up the pieces for him, and how he had taken him in and even taken out an insurance policy for him when he was down and out.
Ling Zi's best friend's apartment rent had expired, and he was preparing to sell products at a discounted price; Ling Zi had already paid his rent. The two chatted, and Ling Zi reflected on his complex feelings for A Bao. The next day, A Bao arrived early for the shareholder meeting. They traveled a long distance in the rain to eat stinky tofu, though Ling Zi strongly opposed A Bao's suggested meeting time and location.
As A Bao and Ling Zi returned to their living quarters, carrying things, a neighbor scolded Ling Zi for not taking better care of A Bao. They found Xiao A Sao in the process of moving. Ge Laoshi took Tao Tao to help, creating a chaotic scene in the alleyway. Ling Zi bought favorite foods for Ge Laoshi and Luo Hong.
Tao Tao, who had come early to "scrounge food," was readily available to assist with the move, his true motivation being to help his father find a wife. A Bao asked Ling Zi to lend him money for an emergency, but Ling Zi firmly refused. Secretly, A Bao left a 500,000 RMB savings passbook for him. Ling Zi soon discovered the passbook and quietly hoped for the success of A Bao and Fan Xinhua's business.
A Bao, knowing Ling Zi well, also predicted that the 500,000 RMB would prompt Ling Zi to withdraw money from his bank account. Ling Zi, who had prepared lunch and dinner for A Bao, was informed by him that he needed to meet Fan Xinhua that evening and withdraw the bank money for the business. A Bao, believing Ling Zi had money, deliberately searched his cabinet and found a hidden box full of treasures.
A Bao called Ling Zi, who questioned if he had given similar passbooks to anyone else. A Bao, dismissive, stated that Ling Zi alone was enough to wear him out, let alone anyone else. In a greatly improved mood, Ling Zi instructed his employees to thoroughly clean the shop in anticipation of A Bao and Fan Xinhua's business discussion, and he rushed to the bank to withdraw money for A Bao.
Li Li learned that A Bao and Fan Xinhua had scheduled to meet at 6:30 PM to view samples and sign a contract. She preemptively called Wei Hongqing and Fan Xinhua to Zhi Zhen Yuan two hours early, hoping Wei Hongqing could use the time to persuade Fan Xinhua to change his mind. Wei Hongqing also brought friends along for support. Fan Xinhua arrived as arranged, asking Li Li to draw the curtains in the private room.
He then unveiled his sample clothing, demonstrating its quality by burning the fabric on the spot with a lighter. The material remained completely undamaged, astounding everyone present. This phenomenon recalled the early days of China's reform and opening up, when French Moncler T-shirts ignited the Chinese people's pursuit of fashion brands.
Despite their exorbitant price of 900 RMB per piece, the demand was immense, with their iconic flower emblem becoming a symbol for trendsetters, and the genuine bright silk was rumored to be fire-proof. In 1990, Huxi Knitwear Factory independently developed the first generation of domestic fire-proof mercerized cotton, controlling costs to one-fifth of imported equivalents. Wei Hongqing also used a lighter to test the fabric, confirming its fire resistance, and praised Fan Xinhua's clothing.
Li Li stood by the window, observing A Bao entering the Honglu Restaurant in the distance. Their eyes met, both holding unspoken intentions. Fan Xinhua also saw A Bao from the window and expressed a desire to go and speak with him at Honglu. Li Li tried earnestly to keep Fan Xinhua, repeatedly reminding him that it was still early. Wei Hongqing, seeing his chance, promised to fully distribute Fan Xinhua's goods and agreed to add 1.
5 RMB to the price of each piece. Fan Xinhua was naturally delighted but worried about offending A Bao. Wei Hongqing advised him to prioritize business, promising direct collaboration without intermediaries and threatening to cancel the deal if Fan Xinhua left. A Bao, meanwhile, deliberately engaged in casual conversation with a mysterious merchant, stalling for time to pressure Fan Xinhua into coming to him. Eventually, Wei Hongqing and Fan Xinhua finalized their deal at 28. 5 RMB per T-shirt.
Overjoyed, Wei Hongqing ordered the dish "Hegemon Bids Farewell to His Concubine" for every table. The news of their successful collaboration quickly spread throughout Shanghai, with Zhi Zhen Yuan proactively engaging the media to publicize and create a buzz around the event. Wang Mingzhu arrived at Zhi Zhen Yuan, witnessing Wei Hongqing and Fan Xinhua celebrating joyfully.
She picked up a plate of "Hegemon Bids Farewell to His Concubine" and brought it to A Bao, who was dining with his mysterious friend. A Bao and his friend, unperturbed by the apparent loss of business, had anticipated this turn of events and instructed the waiter to serve their meal. A Bao, calm and collected, instructed Wang Mingzhu to convey a new offer to Fan Xinhua: the price per piece must be reduced by 1.
5 RMB, and the order must be for 800,000 pieces, no less. A Bao further stated his intention to unite with the manufacturer. Wei Hongqing, having been solely focused on securing the deal, was utterly astonished by the massive quantity. He hesitantly admitted that he could only handle a maximum of 50,000 pieces. Fan Xinhua was left speechless, realizing that production had already commenced, making it impossible to retract the order.
Li Li, upon learning of A Bao's calculated move, understood that he had intentionally allowed them to negotiate a higher-priced deal only to swoop in at the last moment and secure the entire contract at a significantly lower price.
Episode 5 Recap
Wang Mingzhu, after being rebuffed by Wei Hongqing, complained to A Bao. A Bao advised her on how to disrupt the cooperation between Fan Xinhua and Wei Hongqing. Wang Mingzhu went to Zhizhen Garden and, using A Bao's words, questioned Wei Hongqing's capacity to sell 800,000 T-shirts for Fan Xinhua. Wei Hongqing, whose business was small-scale and unable to handle such a large order, was stunned.
Fan Xinhua had initially abandoned A Bao to work with Wei Hongqing for a higher price, but Wei Hongqing's order quantity was less than a tenth of what was needed, and the factory had already started production. Seeing the opportunity, Wang Mingzhu left after making a decisive statement. Fan Xinhua, realizing the situation, immediately stopped Wang Mingzhu, eager to find A Bao for cooperation.
Wei Hongqing, despite his high spirits and previous argument with Wang Mingzhu, offered to help Fan Xinhua sell 100,000 T-shirts, adding 1. 5 yuan per piece. Wang Mingzhu then publicly declared that A Bao would underwrite all 800,000 pieces, stating the deal would be off otherwise. She then departed, with Fan Xinhua following close behind. Wang Mingzhu reiterated that the price would be reduced by 1. 5 yuan per piece, to which Fan Xinhua agreed.
Li Li, unwilling to concede, tried to salvage the situation. She initially made efforts to retain Fan Xinhua, even attempting to invite Manager Xu of Huliant Commercial Building for cooperation. However, Manager Xu was already in deep conversation with A Bao at the Honglu Restaurant, where A Bao had secured a deal to rent a space in Huliant Commercial Building, specifically next to Moncler, to sell San Yang T-shirts.
Manager Xu readily agreed to A Bao's proposal and rejected Li Li's invitation. Li Li soon learned that Manager Xu would not be coming to Zhizhen Garden and was instead collaborating with A Bao. Witnessing A Bao and Manager Xu chatting enthusiastically from her window, Li Li understood the full extent of the situation and felt resentful. Fan Xinhua, upon learning that Manager Xu had backed out of Li Li's offer, eagerly followed Wang Mingzhu to meet A Bao.
At Honglu Restaurant, Fan Xinhua offered A Bao an apology and explained that Wei Hongqing had been holding him back. Because Fan Xinhua had initially stood up A Bao, A Bao had lowered the price by 1. 5 yuan. A Bao introduced Fan Xinhua to Manager Xu, who explicitly stated that Huliant Commercial Building was the only place in Shanghai capable of handling his 800,000 units. A Bao then used this leverage to further reduce the price to 25.
5 yuan per piece, which was 0. 5 yuan less than the previous day's offer. Fan Xinhua, having lost 1. 2 million yuan overnight, was distraught but forced a smile, accepting Manager Xu's advice to consider it a learning expense. Following the successful acquisition of Fan Xinhua's order, Ling Zi hosted a celebratory banquet attended by Ling Hong, Tao Tao, and others.
Under the influence of alcohol, Ling Zi praised Wang Mingzhu lavishly, wishing her a swift promotion to section chief. Wang Mingzhu, initially angry at A Bao for not disclosing Manager Xu's identity as a trump card, which caused her significant effort, became happier upon hearing about her impending promotion. Ling Zi, acknowledging Wang Mingzhu's crucial role in negotiating with Fan Xinhua, purchased a pair of large earrings for 2,600 yuan from Ling Hong's newly arrived stock.
He then gave them to A Bao to present to Wang Mingzhu, falsely claiming they cost 26,000 yuan and putting them on A Bao's tab. A Bao, aware that Ling Hong's shop sold inexpensive items, only gave Ling Zi 13,000 yuan. Meanwhile, Wei Hongqing, despite failing to secure the business, hosted guests with 88 turtle dishes. Manager Pan presented a bill exceeding 30,000 yuan, which Wei Hongqing, though realizing his impulsiveness, paid to save face.
News of Wei Hongqing's extravagant spending quickly spread throughout Huanghe Road. Li Li had anticipated the deal's failure about 10 minutes prior, her intention in opening the restaurant being to benefit by "setting the stage" regardless of the outcome. A Bao later drove Wang Mingzhu home. Wang Mingzhu remained displeased by A Bao's concealment, accusing him of disrespect. She angrily exited the car, but A Bao followed to apologize and offer her the earrings.
She playfully called them "old-fashioned" and disliked them, yet immediately wore them to Huanghe Road. After dropping off Wang Mingzhu, A Bao encountered Li Li on Huanghe Road. A Bao apologized for the evening's events, which had caused Wei Hongqing's deal to fall through. Li Li, however, stated that Wei Hongqing was actually delighted to have become famous overnight and was not negatively affected by the failed cooperation, and she still vowed to get even eventually.
A Bao requested Li Li's business card and hailed a taxi for her. The next day, news of the earrings A Bao gave Wang Mingzhu spread among her colleagues, who were envious. Wang Mingzhu, to aid her own promotion, decided to submit the earrings to her company superior. Uncle Ye visited A Bao, concerned about how he would pay the final amount for the 800,000 units, a significant sum.
A Bao decided to reallocate final payments from other brands, believing the success of foreign trade hinged on this deal and that Wang Mingzhu would play a crucial role in the foreign trade company. China was officially opening up foreign trade, with San Yang T-shirts marking the first venture. The signing ceremony, attended by many Shanghai business figures, was grand and lively, featuring media interviews.
The Shanghai Foreign Trade Company, located at Bund No. 27, though having only six female employees including Wang Mingzhu, supported half of the company's operations. A Bao, Fan Xinhua, and Jin Hua, the section chief from the foreign trade company, signed a tripartite agreement. Wang Mingzhu, meticulously dressed, was prominent at the signing ceremony and proposed listing the products by Dragon Boat Festival.
Wang Mingzhu's colleague Mei Ping was both envious and jealous; Fan Xinhua had initially approached Mei Ping for the business, but Wang Mingzhu had preempted her. Fan Xinhua apologized to Mei Ping, who feigned indifference but harbored deep resentment. Mei Ping proactively offered A Bao a small foreign trade order, but A Bao directed her to Uncle Ye or Wang Mingzhu, which she dared not do. A Bao strongly recommended Wang Mingzhu for a section chief promotion to Jin Hua.
Jin Hua, however, felt Wang Mingzhu was still immature and needed experience, and she planned to hand over all work to Wang Mingzhu before her own departure. Jin Hua also advised A Bao to let Wang Mingzhu develop independently and not always intervene, as she would be helpless without A Bao's constant assistance. Jin Hua took the opportunity to inquire about Uncle Ye.
Wang Mingzhu later sought out Jin Hua, only to discover that Jin Hua was Uncle Ye's direct niece. It was revealed that Uncle Ye, from humble beginnings, had once married twin sisters and divorced them after liberation. To raise money for their visit to Mudanjiang, he illegally resold ten cartons of branded cigarettes.
Jin Hua had reported him for smuggling, leading to his imprisonment, which Jin Hua claimed pulled him back from a path of no return, though Uncle Ye had no regrets. Jin Hua knew A Bao consistently supported Wang Mingzhu to ascend to the section chief position, and her own care for A Bao was understood to stem from her close familial relationship with Uncle Ye.
Li Li had Manager Pan invite A Bao to Zhizhen Garden for dinner, having deliberately cleared a private room for him. Uncle Ye, who had already dispatched Stamp Li to secretly investigate Li Li, recounted her shrewd business journey. Three months prior, Li Li, an outsider, arrived on Huanghe Road and learned from Lu Meilin that Jin Feng Huang's business was failing. She resolutely acquired the restaurant in just two meals, transforming its three stoves into ten.
To establish Zhizhen Garden as the best restaurant on Huanghe Road, she rehired Manager Pan, the former supervisor of Jin Feng Huang, offering her a year's salary upfront and even allocating a portion of shares to a powerful figure known as "Thousand-Hand Guanyin," demonstrating her understanding of the deep complexities of Huanghe Road.
The top-floor private room of Zhizhen Garden was supposedly undergoing renovation and never open to the public, yet someone was seen entering it on the very first day. A Bao arrived punctually for the appointment at Zhizhen Garden, but news of his visit had already spread throughout Huanghe Road even before he entered. Following Uncle Ye's warning and desiring to understand Zhizhen Garden's operations, A Bao decided not to use the main entrance, instead entering through the back kitchen.
Episode 6 Recap
Upon entering Zhi Zhen Yuan, A Bao chose not to use the main entrance but instead slipped through the back kitchen door, having deduced the situation was complex and wishing to inspect the kitchen firsthand. Notified of his unconventional arrival, Li Li promptly rushed to the back to greet him.
A Bao, claiming he wanted to observe the restaurant's decoration style, directly asserted that Li Li was a relative of the Macau Grand Lisboa Casino owner and that Zhi Zhen Yuan's design and decor mirrored those of the Grand Lisboa. He inquired about a private top-floor room, akin to an exclusive one at the Grand Lisboa, but Li Li politely demurred, promising an invitation once renovations were complete.
A Bao was escorted to the best private room, yet deliberately ordered only a single serving of dry-fried beef ho fun, intending to test the restaurant's culinary prowess. Before the dish was served, he ventured into the kitchen to taste it fresh from the wok, complimenting the head chef’s skills as among the best in Shanghai. While there, A Bao pointedly observed the gas valve, suggesting he already had a plan in mind.
Notably, the Huanghe Road gas valve had been closed for half a month for repairs specifically for Zhi Zhen Yuan's opening. A Bao then invited Wang Mingzhu to join him in the kitchen for a meal, passing her the dry-fried beef ho fun, which she savored. The private room incurred a minimum charge of 2,000 yuan.
When Wang Mingzhu realized this, she felt it was a waste and personally went to the kitchen to order additional dishes to meet the minimum, having them packed for takeout. As A Bao paid the 2,000 yuan bill and prepared to leave, he declared to Li Li that Zhi Zhen Yuan would likely not survive beyond three months, stating that "no flower stays red for a hundred days."
Wang Mingzhu, carrying the packed food, departed with A Bao, perplexed by his enigmatic remark, which he did not elaborate upon. Unwilling to be outdone, Li Li had her assistant present A Bao with a gift: two Three Sheep brand T-shirts. A Bao immediately recognized them as high-quality imitations, not from Fan Xinhua's factory, and gazed meaningfully towards Zhi Zhen Yuan.
Following A Bao's visit, the dry-fried beef ho fun unexpectedly became a popular dish, causing a dilemma for Zhi Zhen Yuan, as the dish required immediate tasting after preparation to preserve its flavor. Li Li adapted her strategy, deciding that the dry-fried beef ho fun would no longer be sold but offered as a complimentary dish to guests ordering Australian lobster, exclusively for dine-in, effectively a "buy one get one free" offer where the lobster was half price.
She projected this strategy would sell 6,000 lobsters a month. Li Li specifically instructed Manager Pan to secure a three-month supply of Australian lobsters from Tao Tao's seafood shop, reasoning that if Tao Tao, privy to insider information, believed Zhi Zhen Yuan would close in three months, he would refuse the order, thereby confirming A Bao's prophecy.
The rumor of Zhi Zhen Yuan's imminent closure indeed spread, making Tao Tao hesitant to accept the large order due to fears of being stuck with unsold lobsters. Meanwhile, Ye Shu expressed concern about the proliferation of high-quality counterfeit Three Sheep T-shirts, deeming Li Li's gift to A Bao as a pointed reminder of the issue.
To preempt any market confusion, A Bao swiftly decided to advance the launch of the Three Sheep brand T-shirts from the Dragon Boat Festival to the upcoming Valentine's Day. Fan Xinhua personally delivered 10,000 Three Sheep T-shirts to Hulian Commercial Building. Manager Xu and Manager Zhang were responsible for their distribution.
Fan Xinhua was uneasy about not meeting A Bao and Manager Xu, especially after learning that the planned promotional campaign with Bai Su Zhen and Xu Xian had been canceled. Despite Manager Zhang's assurances, Fan Xinhua, feeling that the goods were his very lifeline, meticulously cautioned him against any errors. Ye Shu, receiving a call from a worried Fan Xinhua, offered words of comfort.
A Bao discreetly stored additional T-shirts on the second floor of Night Tokyo, explicitly warning Ling Zi not to interfere with them. Ling Zi, having opened the boxes, found the T-shirts to be of excellent fabric and flattering cut. He later dispatched staff to Hulian Commercial Building to monitor A Bao's movements. With the T-shirts due to launch the next day, a frantic Fan Xinhua, unable to locate A Bao, sought out Wang Mingzhu.
He found her at a nightclub, entertaining Miss Meng, an editor from "Shanghai Fashion," and a photographer—a promotional arrangement orchestrated by A Bao to ensure a successful launch for the Three Sheep T-shirts. Upon discovering this, Fan Xinhua eagerly joined them, serving drinks to assist with the publicity. At a small bar, the former rendezvous point for his stock-trading "fleet," A Bao met A Si, who had just been released from prison.
A Si, Fa Gen's son and the one responsible for A Bao's accident, expressed his gratitude to A Bao for forgiving him and testifying that his actions were due to drunk driving, leading to a lighter sentence. A Bao recounted the formation of their joint stock-trading team in 1990, detailing how Fa Gen, a newcomer from the countryside, had established himself in Shanghai with A Bao's help.
He shared how he had warned Fa Gen against buying the "414" stock, advice Fa Gen ignored, leading to his financial ruin. A Si, having heard his father's story and seen the land deed they had purchased together, expressed regret for the accident he caused.
Cai Siling, who had admitted to leaking information about the "414" stock collaboration between the Qilin Society and A Bao to Jin Fenghuang, which ultimately caused Fa Gen's heavy losses and led to A Bao taking the blame, felt deep remorse. A Bao, however, had kept Cai Siling's involvement private, preserving his reputation. Before leaving, A Bao entrusted the leadership of the "fleet" to Cai Siling and assigned A Si the task of managing the land they had bought.
Nanjing Road, Shanghai's preeminent commercial street, was a symbol of the city's burgeoning retail and fashion industries in 1993, a period of prosperity for the national market. To establish a strong presence there meant the Three Sheep brand could flourish across Shanghai and succeed nationwide, especially in the face of international competition. On Valentine's Day, Hulian Commercial Building opened its doors to a throng of customers.
Fan Xinhua, standing at the entrance, fantasized about customers flocking to buy Three Sheep T-shirts, inwardly vowing to conquer Shanghai's market. However, sales associates struggled to attract buyers, and the initial launch proved lackluster. Desperate, Fan Xinhua instructed the sales staff to perform on-the-spot burn tests of the T-shirts. Unable to reach A Bao or Manager Xu, Fan Xinhua sought help from Manager Zhang, who urged patience. Separately, he anxiously sought assistance from Manager Wei.
A Bao, meanwhile, called Manager Zhang, emphasizing that the success of the T-shirt launch depended on him. Ling Zi, upon learning of the sluggish sales, instructed his surveillance team at Hulian Commercial Building to continue monitoring. Just as Fan Xinhua's desperation peaked, A Bao unveiled his masterstroke: superstar Fei Xiang made a surprise appearance at Hulian Commercial Building. Fei Xiang's performance of "A Fire in Winter" immediately drew immense crowds and countless fans from across Shanghai, transforming the atmosphere.
People surged forward, eager to purchase the T-shirts. A Bao's four leased counters were overwhelmed, and the initial 10,000 T-shirts sold out almost instantly, completely opening up the market. Manager Xu promptly approached A Bao to arrange for Fan Xinhua to deliver 400,000 more units the following day. Upon hearing of this overwhelming success, Ling Zi instructed his staff at Night Tokyo to sell the Three Sheep T-shirts stored on the second floor, which also quickly sold out. A Bao reaped a substantial profit, and Ye Shu advised him to use the earnings to repay the money owed to investors like Fat Auntie and Stamp Li.
Episode 7 Recap
In December 1993, Shanghai witnessed two major headlines: the San Yang brand T-shirt buying craze and the Shanghai Stock Exchange Index hitting a historic high of 1558 points, with a trading volume of 1. 22 billion yuan, bringing joy to shareholders. Concurrently, restaurants on Huang He Road flourished, with long queues of customers and a surging demand for service staff, leading hotels to aggressively poach employees.
Fan Xinhua, ecstatic and relieved by the sales frenzy of San Yang T-shirts, saw Zhang Zong of Hu Lian Commercial Building add six more sales counters for him. In gratitude, Fan Xinhua decided to host a celebration banquet at Zhi Zhen Yuan, where Li Li reserved the two best private rooms, strategically promoting her establishment.
The T-shirt sales were also a boon for other businesses: Ling Zi, using T-shirts A Bao had stored on the second floor of a hotel, sold them at Ling Hong's shop, making a large profit and secretly filling the empty boxes with sheets to cover her tracks. Ling Zi and her best friend also leveraged the San Yang T-shirts as gifts for their customers, boosting their own small shops.
Tao Tao similarly obtained a batch of San Yang T-shirts from Ling Zi, quickly selling out. Tao Tao's call to A Bao, sharing the good news of the brisk sales, inadvertently revealed Ling Zi's unauthorized actions. A Bao realized these were high-imitation San Yang T-shirts he had specifically sourced and stored with Ling Zi. He furiously demanded Ling Zi recall all the sold items, emphasizing the severe consequences for San Yang's reputation.
Ling Zi proposed replacing the fakes with genuine products or offering apologies and compensation to customers. A Bao, however, insisted she buy back the high imitations at a high price and apologize, which she reluctantly did. A Bao soon identified "Ma Laoban" as the manufacturer of the high-imitation T-shirts.
At Hong Lu Restaurant, A Bao met Ma Laoban, subtly hinting that everyone knew he possessed 800,000 genuine San Yang items, implying any additional ones were fakes, which visibly unnerved Ma Laoban. A Bao offered a 300,000 yuan deposit to help sell Ma Laoban's high imitations, initially suggesting 100,000 pieces and planning to inspect the goods in Zhuji.
However, Ma Laoban counter-proposed a deal for 200,000 to 300,000 pieces and invited A Bao to visit his factory in Zhuji, an offer A Bao accepted. Ma Laoban discreetly assessed the money while A Bao was distracted talking to Wang Mingzhu outside. Meanwhile, on Huang He Road, the Jian Meilin restaurant boss, having made a fortune, secretly offered Lu Meilin's necklace and ring as a reward to any female server who would call him "baby," encouraging a more "sexy" approach.
Xiao Jiangxi timidly called him twice and received the gifts. However, Lu Meilin, the boss's wife, soon arrived, fiercely scolded Xiao Jiangxi, and fired her on the spot. Incensed, Xiao Jiangxi sought employment at Zhi Zhen Yuan, relying on her boyfriend, a chef who had worked at Jian Meilin for two years (or at Da Fu Hao), and her friendship with Min Min, a Zhi Zhen Yuan supervisor.
Before her interview, Lu Meilin warned Li Li against hiring Xiao Jiangxi, publicly declaring that no restaurant on Huang He Road would employ her. Li Li politely refused Xiao Jiangxi, citing workplace reasons and a desire to avoid trouble. Fan Xinhua's celebration banquet at Zhi Zhen Yuan was attended by Shanghai business elites, who offered their congratulations, giving Fan Xinhua an unprecedented sense of vanity.
Lu Meilin, observing the lively scene from Jian Meilin, was furious and vowed to fight Li Li to the end, deciding to cause trouble during the banquet. Wang Mingzhu arrived late, only to be disappointed that A Bao couldn't attend, a sentiment shared by Fan Xinhua. Wei Hongqing arrived with his associates, intending to dispel rumors of a strained relationship with Fan Xinhua.
Finding Fan Xinhua already drunk and gone, and all private rooms occupied, Wei Hongqing attempted to take Wang Mingzhu's pre-booked private room. Wang Mingzhu forcefully removed him, forcing him and his associates to dine in the main hall. As Wang Mingzhu prepared to leave, Zhi Zhen Yuan suddenly experienced a power outage, sending customers into a panic. Jian Meilin and other Huang He Road hotels secretly relished Zhi Zhen Yuan's misfortune.
Xiao Jiangxi admitted to pulling the power switch as an act of revenge for Li Li's refusal to hire her. Suspecting a mastermind, Li Li gave Xiao Jiangxi ten minutes to reveal the person or face police intervention. During the brief blackout, Wei Hongqing attempted to take advantage of Wang Mingzhu, who retaliated with a slap.
When power was restored, Wang Mingzhu discovered her earring, a gift from A Bao that she had intended to submit but wore temporarily, was missing. She frantically searched for it, unwilling to pay the 26,000 yuan she had been saving for a car. A Bao, arriving to pick her up, learned that Ling Zi had demanded this payment from Wang Mingzhu. He promised to help find the earring and convinced Wang Mingzhu to leave.
Police soon arrived and arrested Xiao Jiangxi. Min Min urged her to name Lu Meilin as the mastermind, but Xiao Jiangxi took full responsibility, though Lu Meilin, despite feeling guilty, was powerless to intervene. Li Li called the police to send a clear message to the Huang He Road establishment. Later, Li Li suspected A Bao was the true mastermind and paid a nearby tobacco/wine shop owner for information.
The owner revealed A Bao's only restaurant connection was Hong Lu Restaurant and that A Bao had previously inquired who would benefit most if Zhi Zhen Yuan were to fail, stating that all Huang He Road restaurant owners would be happy. Enraged and sleepless, Li Li later noticed the chef's specific cigarette movements in the kitchen, recalling A Bao's past presence there.
A Bao confronted Ling Zi for lying about the ring's value, which had caused Wang Mingzhu to spend her car money. Ling Zi, feeling wronged, produced the 26,000 yuan, claiming she had always intended to return it to Wang Mingzhu. She reminded A Bao of an incident where she had indirectly protected him from a "crazy woman," taking a knife for him and bearing a scar.
Ling Zi's persuasive account made A Bao regret wronging her, and he promised her 100,000 yuan for her restaurant's renovation. Tao Tao secretly played mahjong with "Xiao Asao" until late into the night, flirting with her, and found himself completely entangled with his female tenant. Afraid to return home, he sought to stay with A Bao at the Peace Hotel, but A Bao declined, citing an upcoming business trip, and warned Tao Tao to distance himself from his tenant.
Tao Tao revealed that the owner of Huang Teng Hotel had pre-ordered all his Australian lobsters, forbidding him to sell to Zhi Zhen Yuan. To avoid offending them, Tao Tao decided to close his shop and accompany A Bao on his business trip. The female bosses of Huang Teng had bought up all Tao Tao's seafood to suppress Zhi Zhen Yuan. Tao Tao sympathized with Li Li, an outsider, being targeted by the entire Huang He Road establishment.
A Bao, recalling how his "Jin Fenghuang" restaurant had been previously sabotaged by slander, recognized that Zhi Zhen Yuan was facing similar tactics from the women of Huang He Road and resolved to confront them.
Episode 8 Recap
After being kicked out by Lu Meilin and then rejected by Li Li, Xiao Jiangxi, despite warnings from her friends Min Min and Lu Si, sought revenge on the "ruthless bosses" by pulling the circuit breaker at Zhizhen Garden. Tao Tao suspected this power outage was related to Lu Meilin.
It was later revealed that Xiao Jiangxi had deliberately sabotaged Zhizhen Garden to please Lu Meilin and secure her return to Jinmeilin Hotel as a head supervisor, a move Min Min found shocking. Xiao Jiangxi, who also received a gold necklace for her actions, publicly stated she would lead Jinmeilin to glory, claiming she had acted "for everyone on Huanghe Road" because Li Li was a common target for the Huanghe Road restaurant owners.
Hearing from Tao Tao about the Huanghe Road restaurant owners' conspiracy against Li Li, A Bao was furious, remembering their past actions of spreading rumors about him and Jin Fenghuang to ruin her. He vowed to prevent their current plot from succeeding. Unwilling to be taken advantage of again, A Bao prepared to confront the Huanghe Road women.
He agreed to visit Ma Laoban's clothing factory in Zhuji, which produces high-quality counterfeit San Yang brand goods, a visit Ma Laoban admired A Bao for making alone. Tao Tao also begged A Bao to lie for her, and he eventually called A Fang, fabricating a story about playing mahjong with Tao Tao. Before heading to Zhuji at dawn, A Bao asked Ling Zi to assist Li Li at Zhizhen Garden.
Meanwhile, Zhizhen Garden faced a crisis when Fat Master Chef, their head chef, was poached by Ririsheng Restaurant's owner with a high salary. Despite a three-year contract, Fat Master Chef insisted on leaving, feigning illness, and even demanded an immediate raise if he were to stay, rather than waiting until the end of the month as Li Li pleaded.
Li Li, discerning Ririsheng was behind the poaching from Fat Master Chef's cigarette brand, felt helpless as her new chef wasn't due until the 25th. To prevent future dependencies, Li Li began secretly recruiting other chefs. The next morning, Wang Mingzhu came to give A Bao money for earrings, which Ye Shu informed her cost at most 500 yuan. She handed the money to Ye Shu.
Upon learning A Bao had left for Zhuji early, she became very alarmed, fearing for his safety due to the notorious reputation of the Zhuji locals. She immediately called Xiao Ningbo, who had driven A Bao to Zhuji. In Zhuji, amidst a heavy downpour, A Bao, carrying 1.
4 million yuan in cash, instructed Xiao Ningbo to return to Shanghai, telling him to pick him up at 8 PM, or inform Ye Shu if he didn't hear from A Bao by then. A Bao then went alone to the agreed meeting place to wait for Ma Laoban. Increasingly worried, Wang Mingzhu decided to go to Zhuji herself.
She purchased a used car from a car dealer without bargaining, paying 25,000 yuan with money Mei Ping retrieved from her office drawer and her own savings, then drove rapidly towards Zhuji. Ma Laoban's men brought A Bao to their factory, which A Bao found to be a "black factory." A Bao calmly inspected the high-quality counterfeit San Yang T-shirts, even testing one with fire, and confirmed their fabric and workmanship were identical to the genuine articles.
Seeing this, Ma Laoban, who had accumulated anger, and his workers, turned on A Bao. Ma Laoban produced a basket of white liquor, and when A Bao stated he would drink if he bought the goods, Ma Laoban, realizing the heavy weight of the box A Bao carried (containing 1. 4 million yuan in cash), furiously smashed it.
He then, with his men, restrained A Bao, intending to harm him, explaining their factory's advanced technology and equipment were wasted on counterfeiting due to lack of market access, and workers faced starvation. A Bao, seeing through Ma Laoban's bluster, persuaded him to stop counterfeiting and build his own brand.
He presented a 400,000 yuan order contract for full distribution in Hujiang Department Store, promising to establish their brand as a Shanghai famous brand and offer a future for the workers. Ma Laoban and his workers rejoiced. Meanwhile, Xiao Ningbo and his men, having waited past 8:15 PM for A Bao and fearing he was in danger, began searching Zhuji. They found Ma Laoban at a KTV, where Xiao Ningbo immediately kicked him, demanding A Bao's whereabouts.
Just then, A Bao, somewhat tipsy, stood up from the sofa and intervened, explaining the situation and embracing Ma Laoban, promising to meet in Shanghai again; they even sang a song together before parting. Wang Mingzhu, during her frantic journey to Zhuji, collided head-on with an oncoming vehicle due to her excessive speed, barely surviving the crash.
Upon seeing A Bao emerge safely, she was both surprised and overjoyed, rushing to hug him tightly, crying tears of joy and relief that she was alive to see him. A Bao, moved to tears, knelt beside her accident-damaged car to comfort her. On the way back to Shanghai, A Bao recounted the events at Ma Laoban's factory to Xiao Ningbo, expressing confidence in establishing their own brand.
Wang Mingzhu, exhausted, fell asleep, while A Bao looked at her haggard face, his heart filled with mixed emotions. Reflecting on his past with Wang Mingzhu, A Bao recalled meeting her at the end of 1988. At the time, foreign trade was strictly regulated, requiring approval from the Foreign Trade General Company, where Wang Mingzhu, a recent graduate, was assigned under Jin Hua's mentorship.
Wang Mingzhu, new to her job and prone to mistakes, was struggling to remove a cancellation stamp from an envelope by a hot water dispenser when A Bao, seeking approval for a foreign trade order obtained through his Hong Kong brother, first encountered her. He affectionately nicknamed her "Crybaby" after she cried out of frustration, and he taught her how to properly remove the stamp.
Although Wang Mingzhu was initially rigid and resistant to A Bao's attempts to use connections, telling him to wait in line for Jin Hua's approval, A Bao persisted, even studying "On Protracted War" while waiting.
Jin Hua, recognizing A Bao as a novice, initially dismissed him to the first floor or rejected his small business, telling him to return in half a month or even half a year, despite Wang Mingzhu subtly speaking on his behalf after A Bao helped her find another lost important stamp. Ye Shu, however, advised A Bao to approach Jin Hua directly, explaining that his order, requiring 24 procedures, could only be handled by Jin Hua.
A Bao continued to follow Wang Mingzhu relentlessly. Unwilling to give up, A Bao devised a plan: he would provide equipment imported from Japan under "three supplies and one compensation" trade, using his commission to offset costs, and then lease it to a factory. While searching for a factory, he met Xiao Ningbo, a factory director so burdened by difficulties that he was about to jump into a river, and A Bao followed him.
Episode 9 Recap
In 1988, A Bao secured his first foreign trade order through his brother in Hong Kong. According to regulations, all foreign trade required approval from the foreign trade general company at the Bund No. 27. Despite long queues and Wang Mingzhu initially telling him to return in half a month, A Bao persistently waited daily for approval.
Meanwhile, the director of Ningbo Knitwear Factory, Xiao Ningbo, was desperate due to a lack of production quotas for his factory of three hundred workers, leading him to attempt suicide by jumping off a bridge. Although A Bao tried to dissuade him, Xiao Ningbo jumped. A Bao, unable to swim, immediately jumped in to save him but was ultimately rescued by Xiao Ningbo himself.
Upon regaining consciousness, A Bao immediately proposed a collaboration, offering Xiao Ningbo a 5 million USD foreign trade order, which Xiao Ningbo eagerly accepted. A Bao and Xiao Ningbo then sought approval from Jin Hua. Jin Hua initially made excuses to defer them. Xiao Ningbo caused a commotion in the hallway, loudly complaining that his factory's clothes couldn't be sold and he had no money to pay his workers.
Workers also gathered outside, demanding wages from Xiao Ningbo and creating a stir at the foreign trade company. Seizing the opportunity, Wang Mingzhu intervened to help, prompting Jin Hua to finally agree to meet A Bao and Xiao Ningbo. They presented their factory rescue plan, and after Jin Hua calculated the data and found A Bao's detailed solution viable, she signed off on it on the spot. She was impressed upon learning that A Bao's master was her uncle, Yeshu.
After Xiao Ningbo happily returned home for the New Year, A Bao invited Wang Mingzhu to the Peace Hotel to celebrate New Year's Eve, presenting her with a gift of invisible contact lenses. Standing on the hotel rooftop, they envisioned a bright future together. Wang Mingzhu expressed her dream of becoming a strong career woman like Jin Hua, aspiring to be a section chief like her.
A Bao, secretly calculating that Jin Hua would retire in four years, vowed to help Wang Mingzhu achieve her goal. From that day forward, A Bao and Wang Mingzhu became inseparable friends. Later, Wang Mingzhu bought a used car for 25,000 yuan, which was totaled in an accident when she drove to Zhuji to assist A Bao.
A Bao offered to buy her a new car, but she steadfastly refused, asserting that she valued their friendship more than any luxury car and had her own principles. Subsequently, Li Li arrived at Night Tokyo seeking A Bao's assistance. Ling Zi recognized Li Li, and a palpable tension, almost hostility, passed between the two. A Bao, who had just returned home, rushed to Night Tokyo with his belongings.
Li Li informed A Bao that she was facing severe problems at Zhi Zhen Yuan. She discovered that over half the fish in the kitchen's tank had died, and her Fat Head Chef was deliberately breaking dishes and claiming dizziness to demand a strike, forcing Li Li to send him home. Minmin, a colleague, complained that Zhi Zhen Yuan, despite its size, couldn't sell anything.
Li Li admitted she had anticipated such challenges but not their swift arrival, as other Huang He Road restaurants, including Lu Meilin, had bought out her supplies, preventing her from acquiring goods like Australian lobsters from Tao Tao and effectively shutting down Zhi Zhen Yuan. A Bao analyzed the situation, explaining that Li Li's success had attracted jealousy, leading the Huang He Road restaurant owners to collaborate against her.
He advised her to immediately dismiss her entire kitchen staff, withdraw all special dishes, set higher prices, and promised to arrange Hong Kong chefs to arrive at the restaurant by 6:30 PM. A Bao also suggested she fire the Fat Head Chef immediately to see if Ri Ri Xian would dare to hire him. Li Li followed his advice and fired the Fat Head Chef over the phone.
Soon after, the Fat Head Chef, along with many kitchen staff, defected to Ri Ri Xian, while Lu Meilin publicly mocked Li Li from the street. Pan Assistant and Minmin began preparing the kitchen, with Minmin managing the front desk. To secure the chefs, A Bao met with Yeshu at the Peace Hotel, asking him to invite experienced culinary professionals.
Yeshu, an old acquaintance of Jia Chairman of the Hong Kong Trade Association, consulted his old notebook and made a call. Jia Chairman was leading a delegation of Hong Kong businessmen, each accompanied by their own chefs, on a visit to Shanghai. Yeshu arranged for these chefs to temporarily assist Zhi Zhen Yuan. Jia Chairman's daughter, Jia Shumin, personally greeted Yeshu at the entrance.
A Bao then visited the hotel, tasted Head Chef Ding's specialty dishes, praised his culinary skills, and invited him to help at Zhi Zhen Yuan. Yeshu elaborated on the essence of each dish prepared by the Hong Kong Head Chef, greatly impressing A Bao, who gave a thumbs up. A Bao and Li Li had pre-arranged this plan.
Yeshu secured the Hong Kong head chef team for a month, specifying that the head chef's apprentice would take over afterward, requiring Li Li to complete necessary procedures during this period. Meanwhile, the Huang He Road restaurant owners, including Lu Meilin, booked private rooms at Zhi Zhen Yuan, eager to witness Li Li's anticipated failure.
Lu Meilin, furious upon learning that A Bao had hired Hong Kong chefs for Li Li, led several owners to Night Tokyo to confront A Bao. Ling Zi, knowing their intentions, served them tea and snacks, then deliberately kept out of sight. After a long wait, Ling Zi slowly reappeared. Lu Meilin spoke ill of Li Li to Ling Zi, and other women joined in, slandering A Bao and Li Li.
Ling Zi, seemingly overwhelmed, subtly stated that with their determination, they could win the "Huang He Road defense battle," appearing to join their cause. Ling Zi then agreed to persuade A Bao to help Li Li, prompting Lu Meilin and the others to leave, but not before Ling Zi charged them 2,000 yuan for the refreshments, much to their anger.
Subsequently, A Bao called Tao Tao, instructing him to deliver a King Cobra to Ling Zi's shop as per the chef's requirements. When Ling Zi found out, he went to confront A Bao. A Bao, choosing not to elaborate, made a phone call to arrange dinner with General Manager Xu at Night Tokyo that evening.
In a turn of events, the Fat Head Chef returned to Zhi Zhen Yuan, as Ri Ri Xian had not hired him, and humbly requested his old job back. However, Li Li considered that rehiring him would be the biggest joke on Huang He Road.
Episode 10 Recap
Zhi Zhen Yuan faced a severe crisis when its chefs collectively quit, leaving the restaurant without a head chef. Fan Xinhua, upon learning of the situation, offered his help, only to discover that A Bao had promised Hong Kong chefs who were significantly delayed. The former fat head chef even stood at Zhi Zhen Yuan's entrance, redirecting customers to Jin Meilin.
Concerned, Fan Xinhua went to Ye Tokyo to find A Bao, informing him of Zhi Zhen Yuan's chaotic state and inquiring about the chefs. Simultaneously, Jin Hua assigned Wang Mingzhu to host foreign guests, who booked a private room at Zhi Zhen Yuan. Upon hearing about the chef shortage, Wang Mingzhu called A Bao, who advised her to bring the guests to Ye Tokyo instead.
At Ye Tokyo, Fan Xinhua met A Bao, who gave him a note listing three signature Hong Kong dishes: Boat King Fried Rice, Immortal Crane Divine Needle, and Fiery King Cobra. Fan Xinhua immediately called Li Li, who instructed Pan Manager to prepare promotional banners for these extraordinary dishes.
A Bao then called Li Li to Ye Tokyo (or instructed her to meet someone across the street, where she found Ye Shu), where Ye Shu, who had been waiting, provided Li Li with crucial advice. During this time, A Bao personally cooked, including egg fried rice, at Ye Tokyo. In 1993, Huang He Road, a 755-meter stretch with over a hundred restaurants, was a bustling hub for wealthy patrons.
Ten restaurants, led by Lu Meilin, had long dominated the area. Li Li's takeover of Jin Feng Huang and its rebranding as Zhi Zhen Yuan fundamentally challenged their supremacy. The chef crisis ignited the "Huang He Road Defense Battle." Ye Shu, observing this "smokeless war," noted the familiar tactics of power cuts, supply disruptions, and poaching chefs. Lu Meilin, leading her fellow boss ladies, aggressively confronted Zhi Zhen Yuan, specifically demanding King Cobra. Pan Manager attempted to manage the situation.
Li Li, having received Ye Shu's guidance, observed Ding Chef and a team of over twenty Hong Kong chefs arriving at Zhi Zhen Yuan. She then proceeded to the private room to face Lu Meilin and her group, who persisted in demanding King Cobra. Fan Xinhua and A Bao, dining at Ye Tokyo, committed to eating whatever Zhi Zhen Yuan served. The critical moment for the King Cobra delivery arrived.
Tao Tao, transporting the King Cobra for Zhi Zhen Yuan, was intercepted by Xiao Jiangxi, who attempted to block his vehicle. This was part of a broader scheme, possibly influenced by Ling Zi, who earlier purchased all the snakes. However, Tao Tao's interaction with Xiao Jiangxi was a diversion: while they argued, the real delivery vehicle successfully transported the King Cobra to Zhi Zhen Yuan's back door.
Simultaneously, inside Zhi Zhen Yuan, Li Li confronted Lu Meilin and her group, enduring Lu Meilin's taunts. The Hong Kong chef team, working with clear divisions of labor, efficiently prepared the dishes. Li Li served the main dishes, including the King Cobra. Lu Meilin and her group were stunned by the dishes, but Lu Meilin, in a fit of rage, overturned a plate. Li Li openly challenged her adversaries.
Following Lu Meilin's rage, Du Honggen, the boss of Jin Meilin Restaurant and Lu Meilin's "old flame," led people to storm Zhi Zhen Yuan. This event was foreseen by Ye Shu, who had warned Li Li about Lu Meilin's tactics, including power cuts, supply disruptions, and poaching chefs. Li Li, showing no fear, declared that as an outsider establishing a business in Shanghai, she was not easily intimidated. She invited Du Honggen into a private room.
Pan Assistant informed Li Li about Du Honggen's past failures in transport and disco businesses, from which he was only now recovering. Du Honggen tore down Zhi Zhen Yuan's menu, restricting it to only unprofitable desserts. Li Li argued for the mutual prosperity of Huang He Road and even offered to recommend wedding banquet clients for the following day to Jin Meilin.
Du Honggen, however, refused to "drink soup" behind her, asserting that the established local restaurants controlled Huang He Road, and proceeded to smash Zhi Zhen Yuan's windows in protest. He also threatened to send customers ordering only wontons, ensuring she had guests but implying only unprofitable ones. Li Li then, unyielding, presented Du Honggen with an envelope – a "welcome gift" from Ye Shu.
Inside was an IOU for 300,000 yuan, borrowed by Du Honggen from A Bao after a gambling loss in Macau. Du Honggen's demeanor immediately changed, and he left sheepishly. Outside, Lu Meilin vehemently scolded Du Honggen, calling him useless. Du Honggen attempted to persuade Lu Meilin to desist, showing her the contents of the envelope.
Lu Meilin, upon seeing it, realized that her husband had lost everything gambling in Hong Kong, and it was A Bao who came to their rescue, never demanding repayment for years as a sign of respect, while her husband continued to gamble despite her working hard. Lu Meilin, enraged, drove Du Honggen away. Other boss ladies, however, approached Du Honggen about future banquets, signaling their willingness to share in Zhi Zhen Yuan's profits.
Ling Zi witnessed the chaos on Huang He Road and felt used by A Bao, who offered no explanation. Ling Hong recounted the details of the snake transport. A Bao later hosted a meal for Fan Xinhua, Ling Hong, Tao Tao, and Xu Zong, cooking for them and encouraging them to rest. Li Li returned to Ye Tokyo to express her gratitude to A Bao, acknowledging his crucial role in saving Zhi Zhen Yuan.
A Bao advised her that his help was a temporary solution and to temper her ambition to avoid new adversaries. He also suggested that for long-term stability, she should consider sharing expensive infrastructure like her gas tank with other restaurants, a suggestion Li Li understood and accepted. Li Li gave a gift for Ling Zi and asked A Bao to deliver it.
Back at Zhi Zhen Yuan, Li Li thanked the Hong Kong team, announced a 50% discount for all tables, and officially launched the "Hong Kong Food Week." Under the dedicated efforts of Ding Chef and the other chefs, the three signature dishes became a sensation on Huang He Road, with the Immortal Crane Divine Needle becoming a celebrated dish, cementing Zhi Zhen Yuan's reputation.
Consequently, other restaurants on Huang He Road began to emulate Zhi Zhen Yuan, introducing Hong Kong-style Cantonese cuisine. Lu Meilin, reluctant to concede, tried to get Xiao Jiangxi's chef boyfriend to learn these dishes but discovered they had broken up. Undeterred, Lu Meilin continued her search for chefs capable of making these dishes. A Bao's motivation for helping Li Li was her previous revelation to him about counterfeit San Yang brand T-shirts.
Eventually, Li Li opened Zhi Zhen Yuan's exclusive top-floor private room for A Bao. A Bao booked and dined there alone, a fact that quickly became the subject of widespread gossip on Huang He Road, as he was the first guest to use this premier space. Li Li, uncertain of his true intentions, instructed Pan Manager to wait for him at the entrance. A Bao arrived on time, confidently entering through the main door.
Instead of ordering food, he directly asked Li Li if she knew Mr. A. Li Li was visibly stunned by his question. It was revealed that A Bao had anticipated Du Honggen's failure to repay his debt and chose to use the IOU strategically to enhance its value.
Episode 11 Recap
Li Li hesitated upon hearing the name of A. Bao knew she was lying when she denied knowing him, so he recounted in detail his history and grievances with A. In December 1990, the Shenzhen stock craze following the Shenzhen Stock Exchange's trial operation drew the government's attention. Shenzhen at the time was filled with financial talent, and A was one of the influential figures, skilled at leveraging the market.
After a large-scale expansion of new stocks on the Shenzhen stock market, A and his private equity fund suffered a severe blow. A Bao took over some of the shares they sold at low prices, and A subsequently disappeared. A Bao knew that Li Li was from Shenzhen and had inexplicable connections to the Shenzhen gang, and their relationship with A determined her decision to do business in Shanghai.
Li Li admitted to this connection, but felt that A Bao's price of using Du Honggen's 300,000 yuan debt to exchange for this information was too high. A Bao wanted to use this to find out the real purpose of the Shenzhen gang's arrival in Shanghai to seize business opportunities. Uncle urged A Bao not to get involved in Huanghe Road again, but to focus on doing business on Nanjing Road.
If A Bao could not earn 300,000 yuan, he would abandon him. A Bao was confident that Fan Xinhua had personally returned to the factory and transferred 400,000 Three Rams T-shirts to Shanghai, and that Nanjing Road would once again set off a buying frenzy.
Fan Xinhua escorted 20,000 T-shirts non-stop to Shanghai, and Manager Zhang quickly stocked them at the Hualian Commercial Building overnight, also finding media reporters to report on it, promising to make Three Rams a famous Shanghai brand. Fan Xinhua was overjoyed, grateful for his acquaintance with A Bao, General Xu, and Manager Zhang, which completely changed his life.
On February 20, 1993, taking advantage of the grand opening of three major department store giants on Nanjing Road—Hualian Commercial Building, Zhongbai Yidian, and Hexin World—400,000 Three Rams were fully launched in ten sales outlets in the five major business districts of the city—Nanjing Road, Huaihai Road, Xujiahui, Wujiaochang, and Sichuan North Road. People rushed to buy them, and sales quickly exceeded ten million. A Bao was extremely excited, and Uncle was deeply gratified.
Distributors from all over the country flocked to Shanghai, besieging A Bao and vying to sell Three Rams T-shirts. General Xu reminded A Bao to be careful of Fan Xinhua producing and selling his own products. A Bao did not take it seriously. Ling Zi saw that the Three Rams were selling so well and wanted to become a secondary agent, and quickly cultivate a group of salespeople. She even came up with sales slogans.
A Bao advised her to focus on running the Night Tokyo restaurant well. Ling Zi was unwilling and pestered A Bao. A Bao used the excuse of finding Wang Mingzhu to leave in a hurry. Little A Sao and Tao Tao flirted with each other at the mahjong table. Tao Tao often sent her hairy crabs. Over time, the two developed feelings for each other, and they often secretly dated. Little A Sao even gave Tao Tao her house key.
Tao Tao came to Night Tokyo to wait for Little A Sao, pretending to run into her by chance. Ling Zi saw that the two were having an ambiguous relationship, and forcibly drove Tao Tao away. Tao Tao braced himself and went home, where his wife, A Fang, had been waiting for a long time. Without saying a word, she pulled Tao Tao to bed. Tao Tao suffered unspeakable pain, which was why he did not want to go home.
In 1986, Tao Tao and A Fang met when they were setting up stalls in the same market. Later, they became enthusiastic and speculative. Two years later, the two got married, and Tao Tao became a live-in son-in-law. On the wedding night, A Fang accidentally had a miscarriage. Tao Tao met Little A Sao and thought he had found a second spring, and he was intoxicated in it. However, the good times did not last long and ended prematurely.
Every day, people who came to A Bao's house in admiration were endless. Uncle worried that Fan Xinhua would break away from A Bao, the primary distributor, and set up his own business. A Bao had Wang Mingzhu, a trump card that could firmly control Fan Xinhua, and Wang Mingzhu could also help Fan Xinhua apply for overseas sales. Uncle was still not at ease.
Customers came to please Wang Mingzhu, and Wang Mingzhu told them to go to A Bao for distribution rights. Wei Hongqing came to Wang Mingzhu to ask for help with fur trading, but Wang Mingzhu flatly refused. Mei Ping took the initiative to help Wei Hongqing, but Wei Hongqing sneered at her. Bosses from all over the country surrounded Fan Xinhua at Zhizhen Garden, vying to become secondary distributors of Three Rams. Fan Xinhua was surrounded by them.
Li Li opened a private room for Fan Xinhua and asked Manager Pan to strictly screen each customer, not allowing them to bring in any communication equipment. Subsequently, Li Li sent Uncle a catfish, and Uncle immediately understood the meaning. Tao Tao took the key to open Little A Sao's door, and suddenly heard Little A Sao calling him. He ran away in a puff of smoke. A Bao reminded him not to play with fire.
Tao Tao ridiculed A Bao for being too old-fashioned. He hid the key in the belly of a yellow croaker, but A Fang found it. A Fang went to Little A Sao's door and beat her. Ge Laoshi tried his best to pull them apart, and A Fang strangled his neck. Tao Tao learned that the fish that hid the key had been eaten by A Fang, and he broke out in a cold sweat.
He ran home in one breath, and A Fang taught him a hard lesson, beating him black and blue. Ge Laoshi, Ling Hong and Ling Zi persuaded Tao Tao in turn, and Tao Tao had unspeakable bitterness in his heart. A Bao sent the catfish back, desperately asking the reason.
Li Li explained that fish merchants usually put a very aggressive catfish when raising salmon, because the catfish eats meat, and the salmon must grow fat to resist the attack of the catfish. A Bao pretended not to understand. In 1992, in Shenzhen, Li Li told her boyfriend she would leave but in her own way. Now, A Bao arrived at Zhizhen Garden, asking Li Li if she knew A, which she denied.
Back then, A was an influential figure during the Shenzhen stock boom, but stocks fell, and part of that stock flowed to A Bao. However, A's whereabouts are unknown. A Bao suspects that A and Li Li know each other, and the 300,000 yuan was to ask this question. Uncle advised A Bao to focus on foreign trade and pay back the 300,000 within six months, otherwise, he would resign. A Bao vowed that three months would be enough.
At this time, General Fan arrived at the warehouse with 200,000 Three Rams, praising Manager Zhang as their 'negative'. Later, stores constantly opened on Shanghai Road, and Three Rams went from one store to ten department stores, selling out instantly. Meanwhile, Fatty Aunt and Fleet were counting money non-stop at the hotel. Three Rams' monthly sales were ten million, and everyone cheered. Uncle was also moved to tears.
Afterwards, Three Rams could be seen everywhere on Nanjing Road, stimulating domestic brands. Boss Xu reminded A Bao to strike while the iron was hot. General Fan specially left sugar cubes for Wang Mingzhu, praising Bao as someone he admired and joking that Bao could not live without Wang. Wang Mingzhu said that A Bao was good to everyone, but she was happy about the rumors of a relationship with him.
Three Rams sold very well, and A Bao was chased by the media for interviews. A Bao ran down the street with Wang Mingzhu. That night, Ling Zi watched A Bao gobble up his food. She showed off that she was selling well, hoping to become a secondary agent and make money for him. A Bao disagreed, complaining that he helped Wang Mingzhu but not her.
Tao Tao, since having Little A Sao's key, delivered seafood to her every day, thinking of her. When they parted, Little A Sao gave Tao Tao the location for their next date. Tao Tao arrived at the date location, walking in tremblingly. Two weeks later, Tao Tao simply stayed at Night Tokyo, fearing A Fang getting tired of him. Even if Night Tokyo closed, he would stay there.
At this time, Little A Sao came to Night Tokyo, and Tao Tao greeted her enthusiastically. Ling Zi deliberately asked Tao Tao to help, secretly advising him not to mess with Little A Sao and kicked him out. Tao Tao returned home and found A Fang waiting for him in her pajamas. He tried to explain that he was tired, but he was not spared. Tao Tao and A Fang got married before they bought tickets, becoming a live-in son-in-law.
A Fang had a miscarriage at the wedding and had not been pregnant since. Tao Tao preferred freedom and did not want children. Later, Tao Tao met Little A Sao, thinking he had found a second spring, but it turned out to be fleeting. Uncle reminded A Bao to keep Fan under control, who now had his head in the clouds.
A Bao felt that only Wang Mingzhu could control Fan, as she was a very principled person, so he told clients to find Wang Mingzhu. Clients went to the foreign trade company to find Wang Mingzhu, making Mei Ping jealous because A Bao was her client. General Wei met the legendary principled Wang Mingzhu, but Wang ignored him. Mei Ping volunteered to work on the project for him, but General Wei politely refused.
Zhizhen Garden's business was also booming, half because people were looking for General Fan. Li Li told Min Min to listen more and talk less, still gathering information, and that guests turning in pagers were not allowed to go to the top floor. At this time, Li Li ordered someone to send Uncle a catfish. Tao Tao received Little A Sao's key but struggled internally, never daring to enter.
Tao Tao hid Little A Sao's key in the seafood basket, but A Fang took the seafood. After accidentally finding the key, Tao Tao was thrown into chaos. Afterwards, Little A Sao was beaten by A Fang's sisters, while the landlord, Ge Laoshi, escaped quickly and tipped off Ling Zi. Tao Tao was forced to kneel on a washboard at home by A Fang. Tao Tao also openly admitted that he had feelings for Little A Sao.
Later, seeing A Fang was sad, he apologized to her. Tao Tao sought refuge at Night Tokyo after being abused, where he was scolded by his friends. Ge Laoshi advised Tao Tao to give up since Little A Sao had left. Hong Ling cursed Tao Tao and A Bao for being wishy-washy, catching Ling Zi's attention. Uncle asked A Bao how to deal with the catfish that Li Li sent, and he wanted to send it back. A Bao personally returned the catfish, asking her the meaning. She said that the catfish was aggressive, so it got fat.
Episode 12 Recap
The San Yang T-shirt sales broke ten million, leading to A Bao appearing on television and Wang Mingzhu receiving an award banner. Mei Ping, having been rebuffed by Wei Hongqing, received client introductions and encouragement from Fan Xinhua. During this time, Mei Ping unexpectedly observed A Bao and Li Li together, laughing and walking away, which prompted her to depart abruptly, pondering Wang Mingzhu's potential reaction. A Bao returned a catfish to Li Li, persistently asking for its significance.
To avoid drawing gossip from the Huanghe Road restaurant owners, Li Li suggested they dine at another restaurant (Xin Lan Ju). There, Li Li explicitly proposed that A Bao assist her in entering the stock market, clarifying that her ambition extended beyond merely running a restaurant and that she had deliberately involved A Bao. She inquired if A Bao feared she would become another Jin Fenghuang, which A Bao denied.
A Bao advised her against the stock market, sharing the cautionary tale of Sheng Si Gongzi, who lost his entire Huanghe Road properties over a single mahjong game, and warned her of the highly competitive and "gambling" nature of Huanghe Road.
Li Li realized A Bao's pretense of not knowing Jin Fenghuang mirrored her own pretense of not knowing A-Mr., understanding that he was upset about her lack of knowledge concerning A-Mr. After dinner, A Bao walked Li Li back to Zhi Zhen Yuan. They walked silently, one behind the other. Upon their arrival, Li Li confidently stated that A Bao would eventually seek her out.
Subsequently, A Bao returned to Li Li's residence to give back an umbrella before walking home in the rain. Mei Ping then exaggerated the details of A Bao and Li Li's interaction to Wang Mingzhu, advising her not to let A Bao slip away. Though Wang Mingzhu verbally dismissed being angry, her actions betrayed her true feelings, as she spoke to herself in the elevator, unable to directly confront A Bao.
Wang Mingzhu proceeded to the Heping Hotel to confront A Bao, but he was not there. Ye Shu encountered Wang Mingzhu and informed her that Fan Xinhua was undertaking direct sales independently, bypassing A Bao. Angered, Wang Mingzhu directly confronted Fan Xinhua at Zhi Zhen Yuan, accusing him of ingratitude and "burning bridges." Fan Xinhua desperately offered excuses, claiming he had not acted immorally and intended to preserve A Bao's reputation.
Wang Mingzhu reminded Fan Xinhua that she had secured export quotas for him specifically out of respect for A Bao. Terrified, Fan Xinhua repeatedly apologized. As she departed, Wang Mingzhu instructed Manager Pan and Minmin to warn Li Li to focus solely on her restaurant and not to use A Bao's name for personal branding or "bother" him. Feeling agitated, Wang Mingzhu sat at a cigarette stall. Wei Hongqing paid the stall owner for gossip concerning Huanghe Road.
Lu Meilin eagerly detailed the love triangle involving A Bao, Li Li, and Wang Mingzhu. Wei Hongqing publicly declared his willingness to be Wang Mingzhu's supporter. Ye Shu advised A Bao to treat Wang Mingzhu kindly and not to hurt her feelings, reminding him that her assistance was crucial to his current success. Ye Shu noted that this was Wang Mingzhu's first time expressing concern over a "woman's matter," indicating profound feelings.
A Bao sought to apologize by pre-ordering Wang Mingzhu's favorite pork chop rice cakes. When they met, Wang Mingzhu immediately pressed A Bao about his relationship with Li Li. They argued, with A Bao offering numerous explanations, but Wang Mingzhu demanded he sever ties with Li Li, declaring she would rather follow him and sell tea eggs. Wang Mingzhu then slammed the door and left.
A Bao reflected on their many years of acquaintance, realizing he considered her a true confidante, and felt a profound mix of emotions. Wang Mingzhu returned to her company, reminiscing about her first meeting with A Bao and her ambition to achieve Jin Hua's position. A Bao sought help from Tao Tao concerning Wang Mingzhu.
However, Tao Tao, who was frequently beaten by A Fang whenever she was upset, was too preoccupied with his own troubles and asked A Bao to accompany him to see Xiao A Sao, a request A Bao refused. The next morning, Ye Shu woke a sleeping A Bao, informing him that Wang Mingzhu had cried all night and intended to resign to Jin Hua. A Bao was stunned and immediately called Wang Mingzhu. Mei Ping answered the phone.
Upon learning Wang Mingzhu was heading to Jin Hua, A Bao rushed to the Foreign Trade General Company. Before Wang Mingzhu could officially submit her resignation to Jin Hua, the Organization Department summoned her for questioning. Jin Hua had searched for Wang Mingzhu unsuccessfully earlier, then gave documents to Mei Ping to pass to a colleague and instruct Wang Mingzhu to report to the Organization Department.
Mei Ping casually inquired if it was for a promotion to section chief, which Jin Hua confirmed. Mei Ping was immediately consumed by resentment and promptly informed Jin Hua, warning her to be careful, that Wang Mingzhu had received expensive "golden pearl earrings" from A Bao. A Bao arrived at the Foreign Trade General Company, asking Jin Hua to reject Wang Mingzhu's resignation.
Jin Hua informed A Bao that Wang Mingzhu faced a much larger issue than just resignation and advised him to maintain distance from her. At the Organization Department, Wang Mingzhu, mistakenly believing she was being promoted, proudly recounted her achievements. During the questioning, she discovered she had been reported for receiving a car from A Bao and a valuable pair of earrings. Wang Mingzhu clarified that she had purchased the car herself and paid for the earrings.
However, the Organization Department had already sent representatives to Ling Hong's shop to inquire about the price. Earlier, Ye Shu had instructed A Bao to call Ling Zi and tell her not to speak nonsense. Ling Zi rushed to Ling Hong, but officials from the Foreign Trade Company had already reached Ling Hong first. Ling Hong falsely claimed the earrings were worth 26,000 yuan. Ling Zi was shocked, realizing she had inadvertently harmed Wang Mingzhu.
Despite Wang Mingzhu's explanations, the Organization Department disbelieved her, dismissing her and transferring her out of the Textile Department, causing her to lose her promotion opportunity. Increasingly angry, Wang Mingzhu returned to her office to pack her belongings. Mei Ping approached her, feigning concern. When Wang Mingzhu did not respond, Mei Ping deliberately implied her actions were for Wang Mingzhu's own good, suggesting Wang Mingzhu harbored a one-sided romantic fantasy. Colleagues began to gossip.
Wang Mingzhu attempted to physically confront Mei Ping but was stopped by Jin Hua, who also expressed disbelief in Wang Mingzhu's claims. A Bao wanted to explain the earring situation to Jin Hua, but Ye Shu advised him not to exacerbate the situation. A Bao called the Foreign Trade Company, learned Wang Mingzhu was absent, and correctly guessed she had gone to eat pork chop rice cakes.
Ye Shu again advised A Bao not to meet Wang Mingzhu for now, as it would only harm her further, emphasizing that A Bao needed to obtain the invoice to prove the earrings were not as expensive as reported. A Bao called the rice cake shop to comfort Wang Mingzhu, urging her not to rush things. Wang Mingzhu, worried about implicating A Bao, refused to meet him, though A Bao promised to clarify the situation with Jin Hua.
A Bao then tracked down Ling Hong, demanding the original purchase invoice for the pearl earrings. Ling Hong claimed she had thrown it away, but A Bao insisted she find it by tomorrow.
Episode 13 Recap
Wang Mingzhu was accused of bribery concerning earrings, prompting A Bao to seek the corresponding invoice from Ling Hong to prove her innocence. Ling Hong had previously been advised by Ling Zi not to keep delivery notes, and although she claimed to have thrown it away, she secretly retained the invoice. This put her in a difficult position: handing it over would betray Ling Zi, but withholding it troubled her conscience.
Desperate, Ling Hong sought advice from Ge Laoshi, confessing that the earrings cost only 200 yuan. Ge Laoshi, startled and unwilling to be involved, feigned deafness and drove her away. Ling Hong later had a nightmare where Ling Zi discovered the invoice in her home and threatened her, causing Ling Hong to wake up in fright. Meanwhile, Boss Qiang arrived from Shenzhen to meet Li Li at Zhi Zhen Yuan, with a larger Shenzhen team expected to follow.
Li Li had thoughtfully arranged for non-Cantonese speaking staff to facilitate their discussions. Boss Qiang requested Li Li to help find someone and was later seen observing Night Tokyo after it had closed. Ye Shu advised Wang Mingzhu to write a confession to seek leniency, providing her with a template. Wang Mingzhu struggled to write it and even dozed off, but Ye Shu patiently dictated it line by line, emphasizing the need for a sincere attitude to gain sympathy.
Wang Mingzhu eventually realized her mistakes and expressed profound gratitude to Ye Shu. Fearing Ling Zi's reaction, Ling Hong began packing her belongings, intending to flee. Before she could escape, Ge Laoshi discretely informed Ling Zi about the earring's true price (200 yuan) and that Ling Hong still possessed the invoice. At the same time, Tao Tao arrived at Ling Hong's shop, confronting her about the overpriced gold and silver jewelry he had purchased and demanding a refund.
A heated confrontation ensued when Ling Zi arrived to settle accounts with Ling Hong. She forcibly snatched the invoice from Ling Hong, furious that Ling Hong had sold items for ten times their cost despite Ling Zi having offered her unconditional shelter when she was desperate in Japan. The argument escalated into a chaotic dispute involving Ling Zi, Ling Hong, Tao Tao, and Ge Laoshi.
Ge Laoshi accused Ling Hong of not paying rent, charging her more than Night Tokyo's rent. Ling Hong retaliated by exposing Ge Laoshi's inappropriate feelings for Ling Zi and his practice of overcharging Night Tokyo for seafood. Ling Zi, in turn, berated Tao Tao. Tao Tao and Ling Hong then jointly targeted Ge Laoshi, who, in retaliation, mocked Ling Zi about her age, suggesting A Bao had no feelings for her.
Ge Laoshi further revealed that Tao Tao and Ling Hong had also previously said Ling Zi was "unworthy" of A Bao. Deeply hurt, Ling Zi tearfully severed ties with Tao Tao and Ling Hong, and forbade Ge Laoshi from frequenting Night Tokyo. Enraged, Ling Hong grabbed a knife, threatening to kill Ge Laoshi, which caused him to collapse from a sudden attack of anger. Tao Tao rushed Ge Laoshi to the hospital.
A Bao heard about the chaotic fight and immediately went to Night Tokyo to understand the situation. Later, A Bao returned to Night Tokyo to speak with Ling Zi. She initially handed him a forged invoice, which A Bao instantly recognized as fake. Ling Zi then reluctantly produced the genuine, but severely damaged, invoice she had snatched. A Bao was speechless with frustration.
Ling Zi declared that she would take responsibility, confessing that she would go to the organization department to explain for Wang Mingzhu and even face the lawsuit. She admitted her lack of favor from A Bao and suggested he could give Night Tokyo to someone he loved, demeaning herself as someone who only loved money. A Bao, in a fit of pique, slammed the door and left.
A Bao waited in his car outside Night Tokyo until it closed, watching Ling Zi leave in the rain, which finally put his mind at ease. From that day, Ling Zi stopped coming to the restaurant. Two days later, Night Tokyo staff contacted A Bao to report her missing. A Bao went to Ling Zi's home but found no response when he knocked.
He then visited Ge Laoshi, who complained bitterly that Ling Zi was starving him and Ling Hong was infuriating him. A Bao, surprised by the widespread commotion caused by a single invoice, tried to comfort Ge Laoshi. Ge Laoshi expressed that he could not forgive Ling Hong, stating she had caused him deep emotional wounds. A Bao, overhearing Ge Laoshi mention Ling Zi's house had been quiet for days, feared she might have come to harm.
He forced his way into her home, only to discover she had packed her bags and left. Noticing her roof was leaking again – a recurring problem he had attempted to fix four times in previous years without success – A Bao climbed onto the roof to repair it.
Ling Zi, presumably at some point during these events, sat on her roof, reflecting on the past four years, including A Bao's first visit when she rented Ge Laoshi's house and had asked him to help fix her leaking roof.
Episode 14 Recap
In 1978, A Bao, then a factory worker, fell deeply in love with Xue Zhi, a 20-year-old Route 13 bus ticket collector known as "Route 13 Flower." He intentionally took her bus daily, and she never charged him for the fare. They grew increasingly close, their conversations multiplied, and A Bao often protected her from the swaying of the bus.
Their first date was at Hong Shun Xing, a popular hotpot restaurant in Caojiadu, where A Bao used connections to secure seats for them. A Bao initially believed their relationship would last indefinitely, but their future changed when Xue Zhi's relatives from Hong Kong arrived. She subsequently married into Hong Kong, leaving A Bao utterly devastated. Before her departure, she and A Bao made a pact to reunite in ten years.
A Bao vividly remembered her talent and beauty, and his despair after she left. Approximately ten years later, Xue Zhi, now divorced, returned to Shanghai for a business trip. She had started her own company and adopted the English name "Betty" in Hong Kong. During their reunion, where they exchanged pleasantries, A Bao initially forbade her from using the name "Betty."
Xue Zhi openly admitted her desire for A Bao not to be more successful than her, and even suggested she would regret it if he was too well off. She sought to witness his lack of success firsthand and mocked his income, implying he could not catch up to her. In response, A Bao vowed to surpass her in success within another ten years, proclaiming that if he became more successful, he would "re-own" her.
Xue Zhi expressed disbelief in his promise. A Bao observed the old Route 13 bus pass by, realizing how much things had changed since their past. In 1990, Ling Zi returned to Shanghai, renting an attic on Jinxian Road. He invited A Bao for dinner that very day, and A Bao brought crabs provided by Tao Tao. A Bao discovered Ling Zi's roof was leaking due to rain and repaired it.
While on the roof, Ling Zi, after complaining about the noisy environment, inquired about A Bao's girlfriend, to which A Bao cryptically replied that she had "swam away like a goldfish." A Bao would perform roof repairs for Ling Zi multiple times.
He also recalled cherished childhood memories of climbing roofs with a four-year-old neighbor girl named Betty, enjoying the afternoon sun, and listening to her play piano, describing these as his most unforgettable days before she, too, left his life. Ling Zi later left home again. Ge Laoshi advised A Bao to close Night Tokyo, which Ling Zi had founded and had unconditionally supported A Bao's business endeavors.
A Bao was reluctant, feeling a debt of gratitude to Ling Zi, especially as Night Tokyo was losing money monthly. Ge Laoshi cautioned A Bao that he owed more than just Ling Zi and presented him with Wang Mingzhu's disciplinary notice. Section Chief Jin, who still harbored personal feelings for Wang Mingzhu, looked at the stamps Wang Mingzhu had organized. Wang Mingzhu was transferred to a company under the Foreign Trade General Corporation, specifically a factory.
A Bao worried that Wang Mingzhu, accustomed to office work, would struggle in such an environment. Before her transfer, Wang Mingzhu had told Ge Laoshi that she wanted to meet A Bao one last time to understand his feelings and to know if she still held value to him. Wang Mingzhu waited for A Bao at a rice cake shop until midnight for their agreed meeting, but A Bao never showed up; instead, he went to Tao Tao's place.
She considered calling A Bao but ultimately put the phone down. That night, A Bao, despite appearing happy and sharing drinks with Tao Tao, was deeply troubled and in internal pain, a state Tao Tao recognized as similar to how A Bao had been in 1978. A Bao left alone after their meeting. In May 1993, Wang Mingzhu began working at the warehouse of the Foreign Trade General Corporation.
A Bao had previously called Fan Xinhua (Master Fan), who was the factory director, asking him to look after Wang Mingzhu. However, Fan Xinhua, observing Wang Mingzhu's "high heels and permed hair" and noting her disparity from the other workers, completely disregarded A Bao's request and her "background." He deliberately assigned her the dirtiest and most strenuous tasks, forcing her to clean the warehouse alone, and severely scolded her, calling her "promiscuous."
Wang Mingzhu had to endure this ill-treatment in silence. Meanwhile, Jin Hua transferred A Bao's business to Mei Ping. Mei Ping brought breakfast for Ge Laoshi, seeking his business advice, which he provided. Ge Laoshi, however, instructed Mei Ping to take the breakfast back, emphasizing the need to maintain distance to prevent her from also facing organizational scrutiny.
Mei Ping volunteered to take over Wang Mingzhu's work, and Ge Laoshi, seeing through her ambition, subtly hinted that Mei Ping was a strong candidate for the next section chief. Mei Ping subsequently decided to change her attire and demeanor based on his advice. Tao Tao visited Wang Mingzhu at the factory, bringing a box of wontons and falsely claiming he came without A Bao's knowledge. However, the wontons were in A Bao's distinct lunchbox, revealing his connection.
Fan Xinhua, recognizing Tao Tao as the outsider who had called to request special care for Wang Mingzhu, forcibly removed him from the premises. Tao Tao later called A Bao to relay Wang Mingzhu's dire situation, feeling a mix of emotions and realizing that A Bao, despite his extensive influence elsewhere in Shanghai, was utterly powerless within that specific factory. Upon hearing this, A Bao became furious.
Episode 15 Recap
Wang Mingzhu was intentionally placed in a challenging situation by Fan Laoshi, who instructed her to organize the warehouse goods alone. Fan Laoshi was convinced she couldn't complete the task and arrived the next morning with his team for inspection, planning to reprimand her. To his surprise, Wang Mingzhu had meticulously categorized and arranged all the goods, earning his profound admiration.
He offered her an ice cream to cool down and engaged her in conversation, discovering that she lived near his idol, Fan Zhiyi. Impressed and friendly, Fan Laoshi subsequently assigned her the important task of unloading goods for a valuable client, Mr. Diao, whose arrival was expected in two days. Demoted to the factory, Wang Mingzhu remained undeterred, single-handedly cleaning and organizing the entire warehouse.
Wei Hongqing, a frequent patron of Zhizhenyuan who usually reserved large private rooms for his clients, abruptly requested a smaller one. Li Li, aware of his past tendency to exaggerate his wealth, suspected his unusual discretion and instructed Manager Pan to monitor his every move. Wei Hongqing was dining with his younger brother, sharing yellow croaker noodles. During this time, Fan Xinhua arrived at Zhizhenyuan to have dinner with Mei Ping.
It was from Mei Ping that Wei Hongqing learned of Wang Mingzhu's transfer from headquarters. Wei Hongqing also expressed a complaint about Li Li's food, claiming it had lost its original flavor, a sentiment rooted in developing feelings for Wang Mingzhu after she once slapped him during a power outage at Zhizhenyuan.
Later, Wei Hongqing visited the foreign trade company warehouse to retrieve goods and brought a large bucket of KFC for Wang Mingzhu, steadfastly asserting his belief in her innocence, which moved Wang Mingzhu to tears. He observed her bravely unloading goods with the workers in the heavy rain. After work, he waited to offer her a ride home on his motorcycle, but Wang Mingzhu unequivocally refused. Undeterred, he chased her bus on his bicycle.
From that day forward, Wei Hongqing consistently visited the warehouse, relentlessly trying to curry favor with her, but Wang Mingzhu did not reciprocate. He introduced her to others as "Oriental Pearl" and was further charmed by her diligent work ethic, intensifying his relentless pursuit. Following Wang Mingzhu's demotion to the warehouse, Mei Ping was appointed to take over her responsibilities in liaising with Fan Xinhua. Fan Xinhua and Mei Ping quickly developed a good rapport, admiring each other.
Fan Xinhua, aware of A Bao's animosity towards Mei Ping due to Wang Mingzhu's demotion, worried about potential conflicts in their future business collaborations. He arranged an early morning meeting with A Bao to talk, speaking highly of Mei Ping. However, A Bao remained firm, refusing to forgive Mei Ping, even if it meant forfeiting the second batch of the Three Sheep brand's distribution rights.
A Bao declared his intention to cooperate exclusively with Wang Mingzhu and requested Fan Xinhua's assistance for Wang Mingzhu at crucial junctures, a request Fan Xinhua readily accepted. Fan Xinhua also recalled his meeting with Mei Ping, whom he had advised to maintain good colleague relations, but observed that Mei Ping had become overly ambitious, no longer the "Little Mei" he once knew.
Knowing A Bao had investigated the reasons for Wang Mingzhu's departure, he asked A Bao to forgive Mei Ping for his sake. Uncle expressed his disapproval of A Bao's impulsive decision to relinquish the Three Sheep distribution rights, reminding him that the new leader at the foreign trade company did not regard him favorably. A Bao then decided to fully dedicate himself to promoting Mr. Ma's factory products, with the ambition of building a reputable domestic brand.
However, the new general manager at Hulian Commercial Building rejected his proposal, suggesting that domestic brands required a more gradual, phased approach, which would also facilitate reporting to Mr. Xu. A Bao's negotiations with Hulian Commercial Building consequently failed, and the bad news swiftly spread throughout Shanghai. Mr. Ma, upon hearing the news, traveled from Zhuji to Shanghai to confront A Bao.
After several failed attempts to reach him by phone, Mr. Ma went directly to the Peace Hotel, emphasizing that all his employees depended on these high-quality fake products for their livelihoods. Mr. Ma issued an ultimatum: if A Bao failed to achieve comprehensive distribution across Nanjing Road, their partnership would be severed. A Bao promised to deliver and agreed to advance a 50% deposit, a decision that deeply infuriated Uncle, who firmly refused to pay it.
A Bao then sought collaboration with a clothing company on Nanjing Road, proposing an Initial Public Offering (IPO). Recognizing the company's current insufficient strength, he looked for a seasoned IPO consultant. The company boss (General Manager Cai) suggested that A Bao and Dr. Wu from the Kirin Club serve as their consultants. A Bao visited the Kirin Club, humbling himself in the pursuit of the IPO, but was denied an audience with Dr. Wu.
A Bao understood he wouldn't be seen, considering his visit merely a demonstration of sincerity, and secretly preferred that the Kirin Club not get involved, fearing he would otherwise be sidelined. He analyzed that stock investment was the future trend and that the high-quality fake products would need the designation of a Chinese-foreign joint venture to truly succeed. He also considered involving a significant figure from Hong Kong to bring success closer.
Before embarking on his trip, A Bao invited Tao Tao to Night Tokyo for a drink, and they reminisced about the pleasant times shared with Ling Zi. Tao Tao, unable to hold her liquor, quickly became drunk. A Bao arranged for a car to take her home and subsequently decided to close Night Tokyo. Tao Tao, Ling Hong, and Ge Laoshi strongly objected, considering Night Tokyo their second home and holding firm belief that Ling Zi would eventually return.
Ge Laoshi even publicly declared he would waive Night Tokyo's rent. Ling Hong and Tao Tao vowed to continue operating the restaurant until Ling Zi's return, emphasizing that the employees depended on it. A Bao had no choice but to relent. The three friends reconciled, apologizing to each other, and their friendship solidified. They vowed to work together diligently to manage the restaurant.
A dejected A Bao returned to the Peace Hotel, where Uncle pointed out his core problem: he had met Ling Zi because of Wang Mingzhu, and their arguments also stemmed from Wang Mingzhu – a fated entanglement. In late 1988, due to fluctuations in foreign exchange rates, Wang Mingzhu grew concerned that the price of embroidery machines would surge. Without consulting Uncle, she contacted several Japanese trading companies for A Bao and Xiao Ningbo to compare prices.
This action was a severe breach of industry protocol, as Japanese trading companies adhered to strict industry rules. Her unauthorized inquiries led all of them to falsely claim they had no stock or refused to sell. Distressed, Wang Mingzhu sought Uncle's help, but he too was helpless and instructed A Bao to personally go to Japan and clarify the situation with the trading companies. A Bao traveled to Tokyo alone.
Despite his extensive efforts, he made no progress, and with his visa nearing expiration, he had no choice but to seek out an old acquaintance, Yamamoto. Their acquaintance dated back to 1987 when both Tao Tao and A Bao were hospitalized with acute hepatitis A. To procure the scarce Banlangen medicine, A Bao had sold a color TV ticket that Tao Tao had hidden in a yellow croaker's belly, much to Tao Tao's fury.
Yamamoto, the managing director of Sugimoto Corporation, also contracted hepatitis A and shared their hospital ward. A Bao, who had previously stockpiled a significant amount of Banlangen, voluntarily shared a packet with Yamamoto. Upon his recovery and discharge, Yamamoto repeatedly expressed his profound gratitude to A Bao.
Episode 16 Recap
Before Yamamoto was discharged from the hospital, he gave A Bao a business card, extending an invitation for A Bao to visit Japan for business. A Bao later found himself facing numerous setbacks in Japan, with his seven-day visa nearing its expiration. He sought Yamamoto's help, but Yamamoto, busy in a meeting and pleased to see an old acquaintance, directed A Bao to wait for him at a Ginza club named Rie that evening.
A Bao struggled to enter the Ginza club due to language barriers and not being a member. Fortunately, he heard Ling Zi, a male from Shanghai who worked as a server at Rie, speaking Shanghainese and asked for assistance. Ling Zi, also from Shanghai, took A Bao through the back door into the luxurious club. A Bao handed his business card to the proprietress, who asked him to wait for Yamamoto.
However, Yamamoto was attending the opening ceremony of a top hostess's new establishment. As time passed, A Bao, worried about the cost and the delay, chose to wait outside or downstairs. Ling Zi, having informed him there was no charge, chased after him, urging him to wait inside. A Bao, needing to return to China the next day, was impatient and wanted to find Yamamoto at the new store.
Ling Zi, fearing reproach from the proprietress, could not reveal the address. Hearing A Bao hadn't eaten all day, Ling Zi took him to a food stall for ramen, while Ling Zi waited for Yamamoto at the intersection. Ling Hong, a waitress at the stall and Ling Zi's bestie, specifically served A Bao, secretly adding extra meat and side dishes as he was a compatriot. After eating, A Bao joined Ling Zi at the intersection.
His nose suddenly bled due to internal heat, and Ling Zi quickly offered him tissues. A Bao asked Ling Zi about his experiences in Japan, and Ling Zi bitterly recounted his struggles, vowing to return to China to open his own restaurant and become a boss. Ling Zi then gave A Bao a "luck card" or "lucky charm," assuring him he would definitely meet Yamamoto.
Ling Hong later believed that if Ling Zi had not given his luck to A Bao, Ling Zi would have already become wealthy and would not have ended up associating with Tao Tao and Ge Laoshi, both of whom thought highly of themselves. Yamamoto finally returned very late, drunk. He pulled A Bao to drink more, and after several rounds, promised to help A Bao with the embroidery machine matter.
A Bao, feeling relieved and drunk, was cared for by Ling Zi, who also translated. A Bao thanked Ling Zi for the luck and attempted to return the card, but Ling Zi declined, asking A Bao to treat him to dinner in Shanghai instead. Six months later, A Bao sent a letter to Ling Zi via Yamamoto. Ling Zi eagerly opened it, screaming with joy and repeatedly scrutinizing its contents in disbelief.
A Bao had opened a restaurant in Shanghai, inviting Ling Zi to be its manager and opening it in Ling Zi's name. Ling Zi's dream came true, and he was thrilled, rushing back to Shanghai to take the position. The San Yang brand became a celebrated Shanghai brand, and the Foreign Trade Corporation organized an awarding ceremony and celebration banquet. Jin Hua noticed A Bao's name was absent from the guest list and called Ye Shu for confirmation.
Ye Shu clarified that A Bao's foreign trade dealings were primarily out of consideration for Wang Mingzhu, and since it no longer concerned her, he would not attend the celebration. Li Li understood A Bao's reason for not attending, surmising he had "bigger fish" – Hong Kong. In July 1993, A Bao traveled to Hong Kong as a consultant for a clothing company's IPO to discuss business, specifically related to clothing.
At his hotel, the Peninsula Hotel, he unexpectedly encountered his ex-girlfriend, Xue Zhi. She was working as a hotel server, not the millionaire or female boss she had claimed to be. After Xue Zhi divorced in 1988 and returned to China, she had fabricated a beautiful story to avoid being mocked by relatives and did not want to return home to face ridicule. Xue Zhi had been following A Bao's business and reputation, expressing happiness at his success.
A Bao advised her to return to Shanghai for business, offering to help her, but Xue Zhi was unwilling. A Bao then suggested she become the company's representative in Hong Kong, but Xue Zhi politely declined again. Before parting, Xue Zhi inquired if A Bao was currently involved with anyone. A Bao truthfully stated he was alone. Xue Zhi claimed to have found her other half, revealing the cruel truth that she already had a family.
Their ten-year agreement still had four years left, and they agreed to meet again in 1997. Meanwhile, Wang Mingzhu was seen on a rooftop, eating ice cream, crying with a mix of determination and sadness. Two months later, A Bao returned to Shanghai. He asked Ye Shu to help process several large orders he had brought back from Hong Kong. Mei Ping visited Ye Shu at the Peace Hotel with gifts.
Ye Shu praised Mei Ping's success at "27 Hao" and deliberately revealed that A Bao had brought back 200,000 in orders, which A Bao then gave to Jin Hua. Mei Ping began to eye this order herself. Ye Shu shared this information to protect A Bao's reputation.
Boss Ma's T-shirts did not replicate San Yang's success, but he remained undeterred, vowing to return to Nanjing Road eventually, though San Yang's imitations had not sold well, A Bao had fulfilled his promise to sell them in clothing stores. The brands A Bao introduced were fully launched in the apparel company, with sales soaring.
The boss was eager for the company to go public but lacked a strong brokerage firm, as major firms were focused on the upcoming IPO of Luwan Department Store. A particular entity, perhaps "Hulian" or "Internet," had failed to reach cooperation but intended to act as a brokerage firm. A Bao promised to give his full support.
He wanted to find a Hong Kong brokerage firm, but Ye Shu advised him against being too aggressive, advocating for a steady approach, finding A Bao's idea unrealistic. A Bao aimed to build his own brand on Nanjing Road and fully capture the Shanghai market. That night, A Bao hosted a dinner at Hong Lu Restaurant, where he was seen by Li Li.
He greeted her through the window, and two hours later, Li Li proactively approached him, claiming she had been "raising fish" recently and inviting A Bao to eat fish. She also mentioned his frequent visits to Nanjing Road. A Bao refused the offer, stating he didn't eat fish, and commented that the market was like big fish eating small fish. A shop owner gossiped that A Bao's focus was no longer on Huanghe Road; he wanted to develop new friends.
A Bao sought out Tao Tao for drinks to relieve his mood and told him about meeting Xue Zhi in Hong Kong. Tao Tao was surprised to learn about his ten-year agreement with Xue Zhi, mistakenly thinking she was a boss and that they had dined together in a grand hotel, questioning if the ten-year agreement would continue. However, Xue Zhi had a family and did not keep the promise.
A Bao learned from Tao Tao that Ling Hong and Ge Laoshi had caused chaos at Night Tokyo, with business disorganized and in need of a leader. Everyone hoped Ling Zi would return soon. A Bao asserted that Night Tokyo would not disband as long as his friends stayed together. Two days later, on Ling Zi's birthday, he did not appear at Night Tokyo.
Just before midnight, A Bao decided to close Night Tokyo the next day, and they ate cake while putting up an advertisement for the shop's transfer. At that moment, Ling Zi suddenly appeared at Night Tokyo.
Episode 17 Recap
On her birthday, Ling Zi returned home, reminiscing about past celebrations, having missed the banquet A Bao prepared for her at Night Tokyo. A Bao, seeing Ling Zi absent, had everyone share her birthday cake. Meanwhile, Ge Laoshi posted a notice to transfer Night Tokyo. A prospective tenant soon arrived to view the premises, but Ling Zi unexpectedly appeared. As the proprietress, Ling Zi also considered closing the restaurant and gave her business card to the viewer.
After the tenant left, Ge Laoshi informed Ling Zi about recent events. Ling Zi, no longer holding a grudge, invited Ge Laoshi, Tao Tao, and Ling Hong for lunch the following day. Tao Tao and Ling Hong were apprehensive, fearing a trap, and inquired about Ling Zi’s mood. Ling Zi called to urge them, and also invited A Bao to join. The three nervously entered Night Tokyo.
Ling Zi revealed she had spent all her money on a trip to Japan, which she had falsely claimed was a vacation. Her true intention was to redecorate and reopen Night Tokyo. Separately, Chen Laoshi, who painted Ling Zi, was mocked by Ge Laoshi for his unrequited love. Chen Laoshi, mistaking Ge Laoshi for requesting rent, attempted to appease him with money and by threatening to use Ling Zi's portrait.
Shi Laoshi, waiting for someone who never arrived, was bumped into by Ling Zi, a situation known by their neighbors. Ling Zi also clarified to A Bao that the request for the account books was initiated by Ye Shu. A Bao, delayed by work, arrived late for lunch to see Ling Zi. Ling Zi decided to completely refurbish and reopen Night Tokyo.
A Bao offered to cover the renovation costs, but Ling Zi insisted he withdraw his shares, wishing to manage the business independently and draw a clear line between them. She also demanded the "luck card" she had given A Bao three years prior. A Bao, while promising to continue helping her and stating their deep, inseparable bond, returned the charm from his wallet. He affirmed he would fully support her if he prospered.
Ling Zi, however, remained cold and distant, rejecting his sentiments. A Bao felt she was a stranger and left disappointed. In the first half of 1993, the stock market opened high but quickly declined. Following a celebratory start to the year, a rainy season ensued, and intensified macro-control policies to cool the overheated national economy triggered a second bear market for A-shares. By July, both Shenzhen and Shanghai markets hit their lowest points.
Despite this, the number of investors increased by tens of thousands weekly. On September 3rd, the Shanghai Stock Exchange took a historic step by modifying its trading rules, officially permitting corporate entities to open securities accounts. This opened the door for institutional investors, and an influx of external capital rapidly transformed Shanghai from a regional to a national market. A Bao recognized this as a new opportunity and didn't want to miss the chance to list his clothing company.
A Bao consulted Cai Siling at the stock exchange about listing with an out-of-town brokerage, seeking his strategic advice. A Bao reminded Cai Siling that Cai Siling had helped him successfully enter the securities market in the past, enabling his current success, and hoped for similar assistance this time. Cai Siling immediately pointed out that the clothing company sought A Bao as a consultant solely to leverage his connections with Qilin She.
A Bao admitted that Xiao Ningbo had secured funding for him, but he was hesitant to accept due to uncertainty, as his role as listing consultant required both capital mobilization and ensuring the underwriters' success. Cai Siling agreed to thoroughly investigate the clothing factory's background. He quickly discovered the factory had 30 million yuan tied up in a single stock and wanted A Bao's help to unblock it.
A Bao was reluctant to take on such a significant problem, preferring to borrow 10 million yuan at high interest instead. Meanwhile, Wang Mingzhu, diligent and energetic, quickly bonded with the factory workers. Fan Shifu, who was the factory manager, requested Wang Mingzhu book a private room at Jinmeilin for his mother-in-law's birthday celebration. Wang Mingzhu called Lu Meilin, the owner of Jinmeilin.
Lu Meilin, aware of the animosity between Li Li and Wang Mingzhu, reserved the largest private room for Wang Mingzhu, expecting A Bao to attend and thereby outdoing Zhi Zhen Yuan. On the day of the celebration, a Saturday, Wang Mingzhu arrived at Jinmeilin with flowers for the factory manager's parents. However, Lu Meilin specifically instructed Xiao Jiangxi not to give Wang Mingzhu a private room if A Bao didn't show up.
Lu Meilin then deliberately denied Wang Mingzhu the private room, stating she would wait for A Bao’s arrival. Wang Mingzhu waited a long time, learning she couldn't secure a private room without A Bao's presence. Fan Shifu’s wife and mother-in-law arrived. Seeing an empty private room, they directly entered, leading to a confrontation with Jin Laoban, who forcefully evicted them. Fan Shifu rushed over and got into a fight with Jin Laoban, hitting him to the ground.
Wang Mingzhu intervened to stop the fight. Lu Meilin confronted Fan Shifu and called the police. The commotion, particularly about Wang Mingzhu's return to Shanghai, alerted A Bao, who was dining at Hong Lu with relatives. A Bao immediately came to Jinmeilin. Wang Mingzhu apologized to Jin Laoban. Lu Meilin demanded an apology for her husband's injury, specifically an ear slap. Wang Mingzhu offered to take the slap for Fan Shifu.
However, A Bao stepped forward and took a severe slap from Lu Meilin instead. Everyone present was stunned. Wang Mingzhu became furious, yelling at Lu Meilin, but A Bao pulled her away. Outside, Wang Mingzhu cried, heartbroken and regretting having caused more trouble for A Bao, feeling frustrated that after years in Huanghe Road, she couldn't even book a private room herself, and he ended up taking a slap for her.
A Bao was dismissive of the incident and comforted her. Wang Mingzhu swore to get justice for A Bao at Jinmeilin and to establish her own independence, vowing not to rely on anyone. The next day, Wang Mingzhu was upset at the factory. Her bribery suspicions were cleared by the foreign trade company investigation, and the head office wanted her back. Wang Mingzhu was reluctant to leave, wanting to build her own "dock."
The factory manager encouraged her to return to Shanghai, calling it her "dock," but Wang Mingzhu remained resolute. After finishing her remaining work, she reluctantly bid farewell to Fan Shifu. In the following days, she worked relentlessly, learning all job roles to vent her frustration. As she was leaving, the factory manager expressed his confidence in her, urging her not to disgrace the factory.
Episode 18 Recap
The Shanghai stock market experienced a significant downturn, with the Shenzhen index plummeting to its lowest point on July 20, 1993. Despite this, Shanghai's market boasted numerous high-quality local companies with investment potential, drawing the attention of Shenzhen institutions. A Bao, recalling Li Li's "catfish theory" of capital markets, anticipated the arrival of a disruptor.
Soon after, Qiang Mujie, identified as a "catfish" from Shenzhen and CEO of Southern International Trust and Investment Company, emerged, arriving in Shanghai to open a branch. A Bao tasked Youpiao Li with closely monitoring Zhi Zhen Yuan to understand the Shenzhen group's intentions and prepare to "catch the catfish," especially after Shenzhen began to show signs of struggling while Shanghai's market remained strong.
Cai Siling later informed A Bao of Qiang Mujie's arrival, noting that A Bao had been waiting two months for him. Qiang Mujie's company, having a grand facade that could be deemed useless if ineffective, convened a meeting at the Lianyi Building, their Shanghai headquarters.
There, Zhang Zong explained that due to the stock market crash, "Mr. A," who had started from scratch, was now in such a state, prompting employees to change their strategy to pursue unprecedented ventures and earn money others dared not. Secret numbers were exchanged during the meeting as a path to their future turnaround.
Concurrently, Ling Zi, with a restaurant concept already in mind, received suggestions from Ge Laoshi to hire a chef skilled in local Shanghai cuisine, and from Ling Hong to incorporate Japanese cuisine. Ling Zi decided to implement Ge Laoshi's nostalgic idea of giving Night Tokyo its own distinctive character, meticulously sourcing various utensils from Ling Hong to completely transform the establishment.
He later made a special trip to Zhi Zhen Yuan on Huanghe Road, ostensibly to research market conditions and learn, sparking the curiosity of Li Li and Jin Meilin. Li Li greeted Ling Zi and offered him a private room, but Ling Zi insisted on dining in the main hall. He offered 500 yuan for Zhi Zhen Yuan's signature dishes, with Li Li personally accompanying him while Assistant Pan served a multitude of dishes.
Li Li, deducing Ling Zi's true intentions were not merely to dine, learned of Ling Zi's renovation plans. While Li Li invited Ling Zi to open a restaurant on Huanghe Road, noting Night Tokyo's "small and refined" nature and its distance from Huanghe Road, Ling Zi expressed reluctance to get involved in the area's "muddy waters," stating his only desire was to earn a living. Li Li personally saw him off.
Youpiao Li, staking out Zhi Zhen Yuan for A Bao, immediately reported Ling Zi's visit. Cai Siling, upon hearing of Ling Zi's visit to Zhi Zhen Yuan, speculated that Ling Zi might be abandoning A Bao. Upon returning, Ling Zi closeted himself upstairs. Concerned, Tao Tao, Ling Hong, and Ge Laoshi went to check on him, finding him drawing a floor plan for Night Tokyo on the floor, indicating increased seating.
Ling Zi then invited them for a tasting, revealing his adoption of Ling Hong and Ge Laoshi's suggestion to open a Shanghai-style Kaiseki restaurant, specifically targeting foreign guests and tourists, confident of instant success. Ling Zi borrowed Ge Laoshi's antiques and Ling Hong's best tea set. After days of research, he presented his newly developed dishes, a perfect fusion of local Shanghai and Japanese cuisine, to Tao Tao, Ling Hong, and Ge Laoshi.
They were instantly captivated, praising his culinary skills and the delicious, familiar flavors, though they found the prices a bit high. Ling Zi declared that by dedicating himself, he would easily outperform the Huanghe Road competitors and planned to charge foreign guests and tourists based on specific time slots. Meanwhile, Wang Mingzhu was transferred back to the foreign trade general company but chose to resign.
Mei Ping, who had been worried about Wang Mingzhu's return, was secretly pleased by her resignation and immediately applied to Jin Hua for the section chief position. Jin Hua, however, deemed Mei Ping too impetuous and unqualified. Feeling wronged, Mei Ping sought out Ye Shu, who advised her to read "How the Steel Was Tempered" and to "make haste slowly."
Wang Mingzhu then approached Jin Hua, announcing her decision to start her own foreign trade company and inviting former clients to an investment promotion conference. Jin Hua cautioned her that without the backing of "No. 27" (referring to the foreign trade company), no one would likely attend. Wang Mingzhu remained optimistic, believing her old clients would support her and had promised to attend.
She chose Zhi Zhen Yuan as the venue for her conference, intending to establish her own place there. A Bao suspected the merchants were merely humoring Wang Mingzhu. Although he wanted to support her mentally, Ye Shu deliberately kept A Bao tied down by dining with him, fearing he might secretly attend. Wei Hongqing, who was deeply infatuated with Wang Mingzhu and had vowed to pursue her, visited her factory only to find she had left two weeks prior.
Undeterred, he vowed to chase her "to the ends of the earth." Wang Mingzhu arrived early at Zhi Zhen Yuan to set up, while A Bao fulfilled his promise to Ye Shu by dining with him. As Ye Shu predicted, Wang Mingzhu's conference saw no attendees. Li Li, however, subtly supported Wang Mingzhu by not removing the private room. Wei Hongqing, carrying a promotional sign, tirelessly advertised the conference in the main hall, though guests politely declined.
Eventually, Wei Hongqing and Fan Xinhua arrived at the private room to offer their support, distracting Wang Mingzhu with lighthearted conversation. As Wei Hongqing was consoling Wang Mingzhu, he discovered his father had confiscated his car, causing him to rush out in pursuit. Fan Xinhua, while offering his support, also proposed financial assistance and suggested that the situation would be different if Wang Mingzhu still had the foreign trade company's background, advising her to return.
Wang Mingzhu, however, firmly refused, stating she could not go back. Dejected, Wang Mingzhu emerged to find Wei Hongqing sulking downstairs. Wei Hongqing apologized for not being able to help her. Wang Mingzhu then proposed that she and Wei Hongqing start from scratch together, an idea that made Wei Hongqing so overjoyed he shouted in the street. News of this spread quickly, reaching Ye Shu, who warned A Bao that he now had a new competitor.
Episode 19 Recap
A Bao intends to confront Qiang Muji (also referred to as Zhang Muji), and not wanting to trouble Ye Shu, he asks Cai Siling to enlist the support of Stamp Li and Fatty Auntie. Meanwhile, Ling Zi and A Bao have gone their separate ways, with Ling Zi independently managing Night Tokyo. She delivers the meticulously detailed account books for Night Tokyo to A Bao, impressing him and Ye Shu, despite her usual casual demeanor.
Night Tokyo is undergoing extensive renovations. Before the overhaul, Tao Tao gathered Ling Hong and Ge Laoshi for a commemorative photo session, as the place held many cherished memories for them. Tao Tao vividly remembers Ling Zi's arrival in 1990. Back then, Ling Zi, while working in Japan, had assisted A Bao with an embroidery machine.
Following this, A Bao rented Ge Laoshi's storefront on Jinxian Road to open a small restaurant called Night Tokyo, inviting Ling Zi to return to China as its proprietress. Ling Zi, having had a brief prior encounter with A Bao, readily accepted his invitation and traveled from Japan to Shanghai. Upon finding the address, she saw A Bao and workers already decorating.
Ge Laoshi, who had initially been displeased with A Bao's messy use of his property, changed his attitude upon meeting Ling Zi. A Bao expressed confidence in Ling Zi's ability to manage the restaurant, emphasizing its small size but excellent location. Ling Zi, feeling it was too significant a gift from a casual acquaintance, initially offered to work as an employee, but A Bao proposed they become co-shareholders. Reluctantly, Ling Zi accepted the proprietorship.
During the current renovations, Ling Zi ordered all existing items to be discarded and the layout changed, intending to make a complete break from the past. Ge Laoshi was distressed by the loss of old objects and tried to intervene, but Tao Tao pulled him away, silently observing as even "Boss Bao's exclusive seat" was discarded, recalling the painstaking effort he, A Bao, and Ling Hong had put into decorating the place originally.
Separately, Wang Mingzhu and Wei Hongqing established a company. Although they discussed naming it "Mingzhu Foreign Trade" and considered including Wei Hongqing's name, he rejected "Wei Zhu" as inappropriate. They planned a grand opening banquet for seventy to eighty tables. Wei Hongqing, facing tight funds, sought to arrange the event on credit. His attempt to book the Red Lu restaurant was rejected due to its limited capacity.
Xiao Jiangxi suggested Lu Meilin take their business, but Lu Meilin dismissed them as inexperienced "newbies" without family or foreign trade company backing. Learning of their predicament, Pan Assistant invited Wei Hongqing to Zhi Zhen Yuan. Li Li, out of gratitude for Wei Hongqing's past assistance, offered to host all eighty-eight tables, deferring payment discussions until the company was established. Wei Hongqing was deeply moved by Li Li's timely help.
Li Li further supported them by spreading news that Wei Hongqing had fully pre-paid for the banquet, which led to Lu Meilin regretting her earlier decision. Wei Hongqing, filled with gratitude, eagerly sent out invitations and personally oversaw the decoration of Zhi Zhen Yuan. He arranged for banners and a cake, and on the opening day, dressed elaborately in a red suit, resembling a groom.
He arrived early, drawing humorous remarks from guests who joked about him and Wang Mingzhu getting married. Li Li, however, found the highly publicized, wedding-like setup inappropriate. Tao Tao delivered the finest seafood to Zhi Zhen Yuan for the celebration, and attempted to invite A Bao, but was informed A Bao was away on a business trip to Ningbo. Wang Mingzhu arrived late to her company's opening.
Her mood had soured earlier when she delivered an invitation to a cigarette stall owner, only to learn Wei Hongqing had already invited him. The owner then mocked her for starting a company without funds. She also learned from Jing Xiu that the event resembled a wedding ceremony and was reminded that despite it being their joint company, she seemed to be doing all the work.
Distraught, Wang Mingzhu found solace in a coffee shop, where Jin Hua (also referred to as Jin Ke in one summary) consoled her. Jin Hua offered Wang Mingzhu her cherished and precious stamp album, a gift from her own master, suggesting she sell it for emergency funds. Wang Mingzhu initially refused due to its great value but eventually accepted, deeply moved and vowing not to let Jin Hua down.
Upon her arrival at Zhi Zhen Yuan, Wang Mingzhu immediately presented the stamp album to Li Li as payment for the banquet, valued at one hundred thousand yuan. Li Li reluctantly accepted, advising Wang Mingzhu not to pay an additional hundred thousand yuan, suggesting Wei Hongqing should be responsible. During the festivities, Fan Xinhua, under the influence of alcohol, began to mock Wei Hongqing, bringing up A Bao's name and joking about Wei Hongqing's unrequited love for Wang Mingzhu.
A heated argument ensued, almost leading to a physical confrontation, but Wang Mingzhu arrived just in time to defuse the situation. She firmly cut the cake, and the opening ceremony proceeded smoothly, with guests enjoying drinks and conversation. Wei Hongqing had even reserved a seat for A Bao, but A Bao never made an appearance. Fan Xinhua waited until eleven o'clock, but seeing no sign of A Bao, decided to leave.
Li Li, however, instructed Pan Assistant not to send the guests away, anticipating A Bao's arrival. Wei Hongqing was vocal about A Bao's absence. Just then, A Bao's new Cadillac arrived at Zhi Zhen Yuan, driven by Xiao Ningbo, drawing significant attention. This car was A Bao's compensation to Wang Mingzhu.
Previously, her old car had been scrapped after she used it to save A Bao in Zhuji, and A Bao had promised her a new Cadillac if it couldn't be repaired. The onlookers admired Wang Mingzhu, but she saw the 20 million yuan car as A Bao's way of severing their ties and felt offended, emotionally declining it.
She angrily gave the keys to Pan Manager to return to A Bao, though A Bao had intended the car as a way to commemorate their relationship and not to disturb her.
Episode 20 Recap
Wang Mingzhu and Wei Hongqing established their company in the Binpeng Business Building in Hongkou District, a location characterized by a poor environment and a diverse mix of people. Due to their limited financial resources, they had no choice but to temporarily base their operations there. For years, Ye Shu and his niece Jin Hua had been estranged due to a long-standing feud.
However, motivated by a crucial Walmart jeans order, Ye Shu reluctantly sought out Jin Hua at the Foreign Trade General Company. He waited all afternoon but was granted less than five minutes of her time, as she maintained a strictly professional demeanor and instructed him to participate in the formal bidding process. Disappointed, Ye Shu left and coincidentally encountered Wang Mingzhu outside the building.
He then realized that Wang Mingzhu’s company was affiliated with the Foreign Trade General Company, and she, too, was pursuing the same Walmart order. Ye Shu, recognizing Wang Mingzhu's upstream advantage, advised A Bao not to directly confront her but instead to find a breakthrough from the downstream. Subsequently, a contact known as Small Ningbo united several garment factories, aiming to compete with Wang Mingzhu by offering the lowest possible production costs.
Meanwhile, Wei Hongqing attempted to leverage his father's reputation to seek assistance from fur company bosses in Haining. They all advised him to return to Haining to develop his leather business, suggesting he avoid the complexities of the Shanghai market. Wang Mingzhu urgently sought Wei Hongqing; she encountered A Bao downstairs. Wei Hongqing, already in a foul mood, quickly became intoxicated and ran outside to vomit continuously. A Bao offered to take Wei Hongqing home, but Wang Mingzhu politely declined.
She then openly challenged A Bao for the Walmart jeans order, declaring her intention to pursue it and her belief that A Bao could not defeat her on price. A Bao, equally resolute, refused to back down, signaling his willingness to formally compete with her. Wang Mingzhu had also recently left a prior position, making Ye Shu's direct appeal to Jin Hua necessary.
Ye Shu noted that this was his first visit to the Foreign Trade General Company in many years, and he observed the changes, including the passing of his old acquaintance, Old Jiang. Meanwhile, a significant stock market battle was unfolding. Qiang Mujie, having discovered an internal mole—a female employee named Xiao Ai, whom A Bao had planted—immediately fired her. Cai Siling later provided Xiao Ai with a severance package.
Qiang Mujie, in turn, placed his own informants around A Bao to monitor his every move and began investigating A Bao's recent contacts. Postmark Li, while visiting A Bao at the Peace Hotel, encountered two Hong Kong lawyers hired by Qiang Mujie in the elevator. Having previously seen them at Zhizhen Garden, Postmark Li discreetly noted their room number, which was room 81, located directly above A Bao’s room in the same hotel.
He also observed them at Zhizhen Garden, where he was tasked with closely monitoring the activities of Nantou Company. Postmark Li then secretly instructed a cleaner to preserve the trash the lawyers had discarded. Working overnight with Cai Siling and Fat Aunt, Postmark Li pieced together the shredded documents, which revealed a legal opinion, a notice addressed to all shareholders, and the numbers 6. 5. 2.
A Bao, however, suspected this was a deliberate trap set by Qiang Mujie to lure him in, as he believed professional lawyers would not carelessly dispose of such critical information, especially knowing A Bao and his team were in the same hotel. He immediately sought out Li Li for intelligence. A Bao invited Li Li to a hotpot restaurant, where she had been waiting for him to reach out.
Using a quote from Warren Buffett, Li Li hinted at Qiang Mujie's true intention: to acquire companies, rather than merely engaging in speculation for quick profits. A Bao was surprised, as he had only believed Qiang Mujie was in Shanghai to cause trouble and exploit market opportunities, never imagining he would target listed companies. A Bao suggested focusing on "three-no" stocks—companies with no assets, no liabilities, and no profits.
At the time, there were four such stocks, with only two, Shenhua and Shenbei Electric, containing the numbers 6 and 5, which further corroborated the information found in the shredded documents. After eliminating these two, only 601 and 603 remained as "three-no" stocks, and it seemed possible they could be targets for acquisition, an unprecedented move for the country. A Bao inquired about insider information, and Li Li demanded a 300,000 yuan payment for the intelligence.
Cai Siling's analysis of the "three-no" stock fluctuations had already confirmed a significant increase in their shareholdings. On March 3, 1991, a significant day related to Beijing's Olympic bid, Qiang Mujie booked a private room at Zhizhen Garden. He then made it a point to find Li Li, with whom he had been acquainted for five years.
He considered her a friend and warned her not to betray their friendship for emotional reasons, reminding her of her past and cautioning her to remember her purpose in Shanghai, noting that Zhizhen Garden was merely a "venue." Li Li, greatly angered and wishing to avoid further association with him, cleared all his expenses at Zhizhen Garden and warned him not to return.
As Qiang Mujie left, he gave Li Li his business card with "601" written on the back as a parting gesture. Separately, Qiang Mujie visited Night Tokyo to see Ling Zi. The two were old friends who had met in Tokyo when Qiang Mujie was a Japanese exchange student intern. Their reunion was emotional, as they had become close friends, even drinking wine Ling Zi had "stolen" from a store on a cold Tokyo street.
Qiang Mujie, who had investigated Ling Zi's address and thought of him for years, had stored a bottle of wine at Night Tokyo, asserting himself as the most powerful person in Shanghai. Ling Zi invited him to Night Tokyo’s grand opening, which Qiang Mujie readily promised to attend. Li Li later met A Bao at a hotpot restaurant and returned the 300,000 yuan deposit.
A Bao proposed a partnership: he would provide stock funds, and Li Li would provide information, with a 15% commission. Li Li negotiated this up to 18%, and they agreed to meet the following evening at the same place for her final answer. However, Li Li, after much deliberation and internal conflict, weighing Qiang Mujie's warnings, ultimately did not show up at the appointed time.
A Bao waited a long time at Xinlanju and, guessing she had rejected his offer, left. Li Li, having hesitated and even leaving an "A" on a glass surface, arrived later only to find A Bao already gone. She then instructed her assistant, Minmin, to purchase 50,000 shares of 601 stock daily. Li Li subsequently called A Bao, recommending the 601 stock. A Bao, however, suspected that Qiang Mujie might be setting a trap, and despite Li Li's recommendation, he decided to bet on 603 stock, investing 5 million yuan daily.
Episode 21 Recap
On the day before the 1993 Mid-Autumn Festival, the "Bao-Ying War," the first merger and acquisition case in China's stock market, officially commenced, coinciding with the acceleration of Shanghai's transformation into a national financial center. As the stock market opened, Strong Mu Jie instructed his trader to buy a substantial quantity of 601 Yingzhou Industrial stock. Simultaneously, A Bao sold three other stocks, concentrating all his funds, amounting to fifteen million yuan, on purchasing 603 Aisi Electronics.
To avoid attracting Strong Mu Jie's attention, A Bao and Cai Siling opted for distributed accounts, with A Bao issuing commands from the Peace Hotel while Cai Siling, Postmark Li, and Fat Aunt placed orders at three different brokerage branches under Cai Siling's oversight from the VIP room. Small investors, too, eagerly rushed to buy Yingzhou Industrial stocks.
During this initial phase, Minmin, pretending to be pregnant, managed to get to the front of the line and deposited five million yuan into 601. From September 27th until the close of trading at noon on Mid-Autumn Festival (September 30th), Aisi Electronics stock remained stagnant. However, Yingzhou Industrial stock abruptly ceased trading due to abnormal fluctuations. To ensure fairness and impartiality in the market, the Shanghai Stock Exchange suspended its trading based on transaction rules.
Immediately after, Shenzhen Baolong Technology announced that it had acquired five percent of Yingzhou Industrial's outstanding circulating shares. Strong Mu Jie publicly declared the historical significance of this acquisition, stating they were the first to enter this new industry. Upon receiving this news, A Bao promptly decided to purchase Yingzhou Industrial.
In the afternoon session, Cai Siling, Postmark Li, and Fat Aunt sold all their Aisi Electronics shares, investing all their funds to buy 800,000 shares of Yingzhou Industrial stock at the day's highest price of 19. 89 yuan. Strong Mu Jie, guessing A Bao's move, ordered his stocks to be "washed out," which caused Yingzhou Industrial's price to plummet. It closed at 15. 6 yuan, resulting in a loss of two million yuan for A Bao.
Cai Siling expressed regret, believing they should have listened to Li Li earlier. Despite the substantial loss, A Bao duly paid Li Li her commission, bringing her a box of money. He decided to continue holding the stock, confident it would rise to 25 yuan. Li Li, without directly responding, warmly served A Bao 40 yuan dry-fried beef ho fun, subtly hinting that Yingzhou Industrial's price would rise to 40 yuan.
Understanding the implication, A Bao instructed Cai Siling and the other two to cover their positions quickly. After the National Day holiday, Yingzhou Industrial stock fluctuated around 17 yuan. Subsequently, Yingzhou Industrial issued an announcement, declaring Shenzhen Baolong Company's recent purchase of sixteen percent of its outstanding circulating shares as an illegal "malicious acquisition" and vowing to retaliate. They launched a counter-acquisition campaign, causing Yingzhou Industrial's share price to climb.
Cai Siling rallied shareholders, urging them to "take back" the Shanghai-built enterprise from the Shenzhen company. This call ignited collective enthusiasm, leading to a "Yingzhou Industrial Defense Battle." Yingzhou Industrial issued another announcement, reaffirming its status as the controlling shareholder. A joint statement from Shanghai-listed companies supported Yingzhou's counter-acquisition measures, and the stock price surged to 25 yuan, eventually exceeding 30 yuan.
Strong Mu Jie remained vigilant, instructing his trader to closely monitor the market for new capital injections and sell shares at high prices. Cai Siling continued to encourage shareholders to participate in the anti-acquisition efforts. Many large Shanghai investors "cut meat" by selling other stocks at a loss to invest in Yingzhou Industrial, and the stock continued its ascent, peaking at 42 yuan.
The company then issued another announcement, reiterating that Shenzhen Baolong Technology's actions constituted a malicious acquisition and stating they would petition the court to declare Baolong's acquisition invalid. Ultimately, the "Bao-Ying War" concluded with A Bao's major victory, resulting in the re-acquisition by Shanghai investors. During this period, Zhi Zhen Yuan experienced booming business, leading to a shortage of parking spaces. Many customers parked their cars in front of Jin Mei Lin, leaving its entrance deserted.
Lu Meilin, consumed by jealousy, angrily forced customers to move their vehicles. Li Li’s strategy included using people to pretend to be pregnant to buy large quantities of Yingzhou Industrial stock. Minmin, following Li Li's advice, had also bought Yingzhou Industrial stock, earning a substantial sum and purchasing a car, making her colleagues envious. Assistant Pan, Minmin, and Li Li even took photos together, further sparking Xiao Jiangxi's envy.
That evening, Xiao Jiangxi, holding 200,000 yuan given to her by Boss Jin, asked Minmin for help with stock trading. Minmin, cautious due to the inherent risks and suspecting the money's origin, refused Xiao Jiangxi, not wanting to implicate her. Minmin's suspicion was confirmed; Boss Jin had indeed given Xiao Jiangxi the money to follow Minmin's trades. The next day, Xiao Jiangxi went to the securities market alone, determined to buy Yingzhou Industrial stock, having heard other shareholders discussing it.
She purchased shares at the absolute peak of 42 yuan. Strong Mu Jie, anticipating the market's trajectory, instructed his trader to sell all remaining Yingzhou Industrial stocks, retaining only 100,000 shares as a souvenir. He also cautioned the trader to prevent the price from dropping too rapidly to avoid public panic. During this period, A Bao strategically instructed Cai Siling to continuously buy and sell, and Minmin also engaged in constant buying and selling.
Yingzhou Industrial's stock price then plummeted rapidly. Xiao Jiangxi was stunned, having lost Boss Jin's entire savings in minutes. In contrast, A Bao had meticulously planned, selling his Yingzhou Industrial shares in batches, making a large profit, accumulating six boxes of money. At their restaurant, Boss Jin and Lu Meilin erupted into a fierce argument, with Lu Meilin scolding him for his losses and Boss Jin retaliating by mentioning her unproductive brother, Lu Honggen.
Xiao Jiangxi, distraught and unsure how to face Boss Jin, sought help from Minmin, who kindly advised her. Xiao Jiangxi confessed her ambition to become the "boss's wife," which was now ruined. Shortly after the "Bao-Ying War" concluded, management departments launched an investigation into malicious holdings and potential insider trading in the stock market, focusing on the "Bao-Ying Company" and Zhi Zhen Yuan. On the same day, Night Tokyo was reopening.
Strong Mu Jie called Ling Zi to congratulate him and promised to attend the opening later that evening. However, moments after his call, he was taken away by an inspection team for questioning. A Bao, who had not received an invitation from Ling Zi, pretended to be unaware of the reopening. When he went to Zhi Zhen Yuan for profit sharing, he discovered police officers there.
A Bao discreetly left through the back door as the police apprehended Li Li for investigation. News of Li Li's arrest shocked Huanghe Road. Lu Meilin gloated over Li Li's misfortune, while Assistant Pan and Minmin worked diligently to reassure customers and ensure the hotel's smooth operation. A Bao and Grandpa inquired about Li Li's situation but found no information. Grandpa analyzed that Li Li's arrest was by the police, not the commerce bureau.
Li Li, during her interrogation by the Municipal Public Security Bureau Criminal Investigation Team, feigned ignorance and shifted all responsibility to Baolong Group. Strong Mu Jie was also taken for questioning, suspected along with Li Li of profiting from manipulating stock prices. Despite facing questioning, Strong Mu Jie remained composed, checking his watch, seemingly concerned about missing Ling Zi's opening.
Meanwhile, Cai Siling investigated the specific reasons behind the arrests and confirmed that he was cleared of any wrongdoing related to malicious acquisition, as his purchases were made after the public announcement. Back at Night Tokyo, Little Monk had not fixed the water pipes for the reopening, so Ling Zi personally stepped in and quickly resolved the issue, accidentally tearing his sleeve in the process and changing into a chef's uniform.
Ge Laoshi, Tao Tao, and Ling Hong arrived formally dressed for the opening. Worried about a lack of customers, they had arranged for friends and family to fill the seats. However, Ling Zi remained unconcerned, stating that while Night Tokyo had initially relied on A Bao to attract customers, he now intended to succeed based on his own merit. Ling Zi, having given Strong Mu Jie's reserved seat to someone else, opened the doors with determination to welcome guests. The "Bao-Ying incident" was to be handled seriously by the State Council Securities Committee and the China Securities Regulatory Commission, which had been formally established in October 1992.
Episode 22 Recap
Police apprehended Qiang Mujie on suspicion of stock manipulation and malicious acquisition, requesting his return to the public security bureau for investigation. Qiang Mujie initially wanted to wait until the stock market closed before leaving, and just before his departure, he received a phone call, ending it with only four words: "We'll meet again." He then refused to cooperate with the police investigation and was lawfully detained.
An inspection team had detected underlying issues related to his activities, but showed respect by allowing him to work for a few final minutes before his apprehension. Around the same time, Ling Zi's Night Tokyo restaurant held its grand reopening, drawing a continuous stream of new and old customers, including friends from his Japan Chamber of Commerce, eager to sample his cooking.
Ling Zi was exceptionally busy, while Ling Hong, Tao Tao, and Ge Laoshi, the three major shareholders, were overjoyed by the bustling business. Ling Hong and Ge Laoshi considered simply remaining stable small shareholders. Qiang Mujie, however, was late, leading Ling Zi to give his reserved seat to another customer. Tao Tao, to boost the restaurant's popularity, had privately invited numerous friends, resulting in a lack of available seating.
Ling Zi immediately imposed a new rule that all future diners must make reservations. To ease tensions between Tao Tao and Ling Zi, Ling Hong arranged for her friends to sit at an added table in her own nearby shop. Ge Laoshi advised Tao Tao against complaining, acknowledging Ling Zi's significant efforts. Tao Tao, witnessing the situation, was thankful that A Bao had not attended, as only a small corner seat would have been available for him.
Three days prior, Ling Zi had sent an invitation to Ye Shu for A Bao, but Ye Shu, considering A Bao's current relationship with Ling Zi, had prevented A Bao from attending. During the investigation, Li Li was informed that someone (referred to as "the neighbor") had confessed, implicating Zhizhenyuan as their gathering point. Li Li demanded a face-to-face confrontation, insisting along with Qiang Mujie that they had committed no violations.
Li Li was detained and held in a room for almost 24 hours. She adamantly denied any involvement in stock manipulation, claimed complete ignorance regarding the accusations, and strongly distanced herself from any investors. Ye Shu, upon learning of Li Li's detention, advised A Bao to sell all his shares in Baoying Company if she was not released within 24 hours, fearing he would be entirely trapped. A Bao grew restless, desperately seeking information about Li Li's situation.
As Li Li remained in custody, Minmin and Manager Pan struggled to maintain operations at Zhizhenyuan. Lu Meilin seized the opportunity to spread malicious rumors about Li Li to other restaurant owners, gossiping that A Bao would never be interested in a problematic woman. This led customers to avoid Zhizhenyuan. With payday approaching and Li Li absent, Minmin worked hard to calm the worried employees.
Manager Pan resorted to using a portion of the restaurant's cash to pay salaries, leading to a chaotic scene as suppliers, also demanding payment, scrambled for the money. Suddenly, A Bao arrived at Zhizhenyuan, intentionally choosing to dine in the main hall rather than a private room. His presence helped stabilize the employees' emotions and instantly silenced Lu Meilin and the other restaurant owners present, who had been reveling in the gossip.
A Bao remained in Zhizhenyuan for the entire afternoon, patiently waiting. Further police investigations revealed a connection between Qiang Mujie and the Shenzhen Lantian case from years ago. Qiang Mujie maintained that it was a civil case that had already been settled. However, authorities also suspected Li Li's involvement. Police questioned Qiang Mujie about the whereabouts of his former partner, Chen Zhen, to which he claimed to be completely unaware and falsely stated he had not known her previously.
Meanwhile, police presented Li Li with an identification card bearing the name Li Li, but she denied recognizing the person depicted. The following morning, Ling Zi instructed Xiao Qin to send thank-you letters to all the guests who had attended the reopening. He then noticed Ling Hong packing her luggage, intending to leave for Beijing to join friends. Ling Zi surmised the reason for Ling Hong's departure and offered her tens of thousands of yuan.
Ling Hong, however, refused to accept the money, silently expressing her gratitude to Ling Zi in her heart. Ling Zi reflected on the hardships he and Ling Hong had endured together in Japan, feeling a mix of emotions as they parted ways. Ling Hong, recalling their journey from meeting in Japan to establishing their independent shops, felt it was time for her to forge her own path. Eventually, Qiang Mujie was released.
He immediately went to Night Tokyo, which had already closed for the day. He insisted on booking a spot for the next day, but was told it was fully booked. Qiang Mujie expressed his willingness to wait, promising to send a deposit the following day and offering to pay with a credit card. Ling Zi, however, only accepted cash, prompting Qiang Mujie to suggest that Ling Zi should keep up with modern payment trends, a suggestion Ling Zi seemingly noted.
He also proactively helped Ling Zi fix his water heater. Qiang Mujie later had a dishwasher and a new water heater sent to Night Tokyo, though Ge Laoshi was unappreciative of these gifts. A Bao's wait at Zhizhenyuan ended when he finally received a call from Li Li, who had also been released.
She returned directly to Zhizhenyuan, where A Bao met her and gave her the money he owed her in commissions, directly from his car's trunk, causing Li Li's eyes to well up with tears. Li Li used this money to pay her employees' salaries and distribute generous severance packages as bonuses, leading to widespread envy among employees of other restaurants. After Li Li had handled the restaurant's affairs, A Bao offered to take her out to eat.
However, Li Li, having not slept for 24 hours, was completely exhausted and fell asleep in A Bao's car. A Bao gently drove her around for some time before parking by a quiet roadside, patiently waiting for her to wake up. He leaned against the trunk, contemplatively smoking, while Li Li, upon waking, quietly observed A Bao outside the car. Later, Ling Zi visited Wang Mingzhu, bringing an opening gift for her.
Ling Zi expressed that he felt responsible for Wang Mingzhu's departure from her previous position and vowed to compensate her fully. He promised unwavering support for any future needs, regardless of her current role in the foreign trade company, emphasizing that she would always be "Miss Wang." Before leaving, Ling Zi took numerous business cards, intending to promote Wang Mingzhu's company to the Japan Chamber of Commerce.
Episode 23 Recap
In a rapidly changing era, A Bao resolves to actively participate in the reform wave, aiming to list a clothing company. Manager Cai of the Shanghai Clothing Company seeks to collaborate with A Bao on the primary market, contingent on securing a listing quota. Both see this as an opportunity to turn their fortunes around. Qiang Mujie, having thoroughly investigated and analyzed A Bao, believes A Bao's individualism will inevitably lead to failure.
However, Ling Zi disagrees, asserting A Bao has always been lucky. Ling Zi gifts Wang Mingzhu a brand-new cell phone and Night Tokyo's auspicious lucky cat as an opening present. Wang Mingzhu is deeply grateful, placing the cat prominently in her company, while Wei Hongqing devoutly prays. Ge Laoshi, upon discovering the lucky cat is gone, expresses his reluctance and worry for the restaurant's business, but Ling Zi disregards such superstitions.
Xiao Li then brings a busload of Japanese tourists to Night Tokyo, which, bustling with Japanese tour groups and other customers, sees Ling Zi tirelessly promoting Wang Mingzhu's business to foreign trade clients. Ge Laoshi, seeing Night Tokyo's thriving business, no longer worries about the lucky cat. A reporter, impressed by Night Tokyo, interviews Ling Zi, who shares her vision of opening branches in major cities worldwide and becoming a global proprietress.
Ge Laoshi comes to admire Ling Zi's excellent management of the restaurant. Qiang Mujie visits Night Tokyo without a reservation. He waits, then opts to sit at the bar, observing Ling Zi as she busily attends to guests late into the night. After the last customer leaves and Ling Zi prepares for the next day's ingredients, Qiang Mujie advises her to rest.
He converses with her for five minutes, reflecting on his ups and downs in the stock market, his marriage, divorce, and experiences in Shenzhen, and cherishing his relationship with Ling Zi. Ling Zi, recalling past moments, feels a mix of emotions and vows to surpass the restaurants on Huanghe Road. He later sends her a water heater, promising a lifetime warranty.
Ge Laoshi suspects Qiang Mujie's ulterior motives toward Ling Zi, and Tao Tao tries to comfort Ge Laoshi, lamenting that Night Tokyo has lost its role as a haven since Linghong left and A Bao stopped visiting. Ge Laoshi, still entangled in his past feelings, declines Tao Tao's invitation to bowl, citing his deceased wife's name, Baoling. The Shanghai stock market expansion begins, with many companies vying for listing.
The general headquarters decides to establish the South China Investment Headquarters in Shanghai, with Qiang Mujie as General Manager, tasked with securing a local underwriter. Qiang Mujie dismisses clothing companies as underwriters, preferring top-tier brokers, but feels a "thorn in his throat" upon learning A Bao is the listing consultant for the clothing company. He recalls how A Bao and his retail investor friends made significant profits in the "Bao-Ying War" he meticulously orchestrated.
Li Li, seeking to repay a favor, invites A Bao to a hotpot restaurant. She cautions him against choosing the clothing company, deeming it the "worst" option, but offers to provide him with a broker if he agrees to take over Zhizhen Garden, as she intends to leave. A Bao, confident in his ability to list the company, accepts, intending not just to be a shareholder but to run its business.
A Bao then assumes the role at Zhizhen Garden, where Qiang Mujie is waiting. They engage in a subtle rivalry over dinner, with one eating fish and the other everything but fish, exchanging thinly veiled insults. Qiang Mujie asserts there will be no place for A Bao in Shanghai. A Bao, though never having met Mr. A, retorts that Qiang Mujie only learned Mr. A's assertiveness but lacked his decorum.
A Bao, frustrated, slams the door and leaves, making a final defiant remark. Li Li observes their intense exchange from outside. Qiang Mujie confronts Li Li, demanding she choose between Luwan Department Store, which he backs, and A Bao's clothing company. Li Li declares her unwavering loyalty to Mr. A, even in death. Angered, Qiang Mujie leaves and later confronts Ling Zi, confidently asserting A Bao's impending defeat and urging her to protect herself.
Ling Zi, however, reiterates her belief in A Bao's persistent good luck. Li Li recommends Xiguo Investment as an underwriter, advising A Bao to carefully reconsider, as the clothing company's financial strength and prospects are inferior to Luwan Department Store, which is backed by the powerful Qiang Mujie. A Bao, however, envisions creating Shanghai's first fashion company, not merely a clothing producer, predicting double profits within three to five years by analyzing Shanghai's future economic trends.
He also clarifies that Mr. A is not behind Luwan Department Store, thus ensuring no such confrontation. Li Li then arranges a meeting between A Bao and Manager Wang of Xiguo Investment. Manager Wang, a forthright man from the Northwest, and A Bao quickly form a strong rapport and agree to cooperate. Manager Wang immediately begins preparing the necessary documents for the Structural Reform Office's listing review. Li Li wishes A Bao success in overcoming this challenge.
The Shanghai Structural Reform Office has strict review processes and limited quotas. Guided by Ye Shu, A Bao prepares meticulously alongside Qiang Mujie. Ye Shu advises A Bao not to focus on outdated financial arguments but on practical, social issues. During the review, A Bao, presenting himself as the General Manager of Xiguo Investment, advocates for the clothing company to lead fashion trends and, crucially, to address the pressing unemployment issue for laid-off textile workers.
His speech is well-received, and the clothing company successfully secures the listing quota, achieving a draw against Luwan Department Store's legal representative. Manager Cai and Manager Wang praise A Bao, attributing his success to guidance from a skilled mentor. A Bao consults Ye Shu on the next steps, but Ye Shu's primary focus remains on the Walmart foreign trade order, which he considers A Bao's ultimate fallback. Ye Shu cautions A Bao not to be too happy, as the Walmart order is his safety net in case of future failure.
Episode 24 Recap
A Bao, following the guidance of Ye Shu, distinguished himself at a bidding conference and successfully secured the listing quota for an apparel company. Ye Shu took charge of the Walmart foreign trade order, intending it as a fallback for A Bao should the listing venture falter.
A Bao expressed his gratitude for Ye Shu's foresight and urged him to rest, but Ye Shu politely declined A Bao's offer to care for him and his two aunties, advising A Bao to focus on himself and act cautiously. Meanwhile, Wang Mingzhu was grappling with the initial challenges of her startup. Her landlady, Shu Fen, revealed that Wang Mingzhu's father had prepaid three months of her rent.
Wei Hongqing, to support her, sold his mink coat and gave her 1000 yuan from the proceeds, which left Wang Mingzhu feeling uneasy. Wei Hongqing actively promoted "Mingzhu Company" by distributing business cards at a foreign trade company building. During this, Mei Ping encountered Wei Hongqing and sneeringly referenced "Mingzhu Company."
Wei Hongqing, noticing Mei Ping had not yet been promoted, deliberately called her "Xiao Mei," infuriating Mei Ping, who retorted with a warning that his company would inevitably have to deal with her. Wang Mingzhu approached Jin Hua (Section Chief Jin) to seek approval for a substantial Walmart order of 200,000 pairs of denim jeans. Jin Hua voiced concerns about Wang Mingzhu's company's capacity for such a large order.
Wang Mingzhu confidently guaranteed success, stating her full commitment to the deal and seeing no difference between proving herself to A Bao and dedicating herself to the order. Jin Hua calculated that Wang Mingzhu's quoted price of 17 yuan per pair would yield no profit, or even a loss, after transport costs, and suggested settling in USD. Jin Hua encouraged Wang Mingzhu to achieve success for the reputation of Shanghai, rather than solely for A Bao.
Mei Ping later presented Wang Mingzhu's 17 yuan/pair quote to Ye Shu. A Bao, upon returning, ignored Mei Ping, who then left. Both A Bao and Ye Shu analyzed the quote; A Bao deemed the price unfeasible, and Ye Shu deduced that Wang Mingzhu's move was a defiant act aimed at A Bao, noting that the order was accepted without a processing factory secured, raising concerns about potential lawsuits.
A Bao realized Ye Shu was monitoring Wang Mingzhu, a fact Ye Shu openly acknowledged, stressing the importance of knowing one's opponent. Wang Mingzhu informed Wei Hongqing that to compete with A Bao, her price could not exceed 17 yuan. Qiang Mujie frequented Night Tokyo, often sitting on a "cold bench" to wait for Ling Zi to finish her work before engaging in a brief five-minute conversation.
He often found the food unexceptional and overly vinegary, and openly doubted A Bao's ability to secure 200 million yuan, predicting his severe downfall. Ling Zi, however, maintained her belief in A Bao's capabilities. The following evening, after learning Qiang Mujie was waiting downstairs, Ling Zi was taken by him to Xinlanju, a hotpot restaurant and private room where A Bao and Li Li frequently dined, as Qiang Mujie preferred not to discuss Li Li's Zhizhen Garden at Night Tokyo.
While sitting in A Bao and Li Li's usual seats, Qiang Mujie speculated that A Bao aimed to be Shanghai Road's Buffett, while Li Li possessed a "one-sword-sealing-the-throat" reputation. He recounted that Li Li and A Bao often discussed stock prices, with the apparel company's circulating shares being considered trivial for Nanguo Tou, Qiang Mujie's company. He noted that A Bao highlighted the company's strengths, while Li Li, behind his back, pointed out its weaknesses.
Qiang Mujie then shared with Ling Zi the story of Li Li and Mr. A. In 1990, the ambitious Mr. A returned from studying abroad to contribute to the international capital market. Qiang Mujie followed Mr. A from Beijing to Shenzhen, Hainan, and Shanghai, aspiring to establish their own Berkshire Hathaway. However, their expansion proved too rapid, leading to the company's collapse after a massive expansion of new shares in Shenzhen.
At their disbandment, Mr. A, Qiang Mujie, and others had a final hotpot meal in Futian. Li Li, who was Mr. A's student and most beloved woman, was the last to depart the restaurant with him. When their company crumbled, many, including A Bao, "picked up" their stocks. Mr. A, not wishing mutual destruction, had extended an olive branch, a magnanimity Qiang Mujie admitted he lacked.
Qiang Mujie later worked in Japan, where he met Ling Zi in Ginza and fell in love with her at first sight, deciding to stay in Japan for her. However, Ling Zi unexpectedly left for Shanghai without a word. Qiang Mujie discovered that A Bao had "taken" Ling Zi to Shanghai, prompting him to follow her there. He vowed that no one would take Ling Zi away.
Ling Zi unequivocally stated she had no romantic feelings for him and emphatically distanced herself. Ling Zi thanked Qiang Mujie, expressing that she had never felt so valued. Qiang Mujie also thanked A Bao, claiming that A Bao's influence led to his return to China, allowing him to experience the significant events in Shenzhen and become who he is today, stating he would no longer give others opportunities. Li Li also recounted her past with Mr. A to A Bao.
Upon his arrival in Shanghai, Qiang Mujie's first action was to inquire about Ling Zi's whereabouts from Li Li, partly because Ling Zi was a woman Qiang Mujie admired. Li Li analyzed the disparity in strength between A Bao and Qiang Mujie. A Bao, resolute, declared he would not give up until the very end, which piqued Li Li's interest. She mentioned a friend who had capital, but only for a guaranteed win.
Li Li advised A Bao to abandon the endeavor, cautioning that the impending major confrontation required at least 200 million yuan, and luck is not infinite. A Bao remained determined to fight until the very end. Li Li eventually promised A Bao 200 million yuan in listing funds, and later stated that Qiang Mujie's ultimate fate would be a letter of dismissal. During this period, Tao Tao, unable to find A Bao at Night Tokyo, sought him out.
He poured out his heart to A Bao, lamenting how much had changed in his life. While out shopping with his wife, A Fang, Tao Tao had coincidentally encountered his former love, Xiao Sao Sao, who was now married to someone else and pregnant, leaving him heartbroken. Tao Tao admitted he was weary of his marriage and vented his frustrations by bowling. His wife, A Fang, had also taken all his private money.
A Bao advised Tao Tao to try and make his marriage with A Fang work, then gave him all his loose change, observing their signature gesture of grabbing each other's collars and looking at each other. In November, the Shanghai stock market successfully emerged from a more than half-year-long slump, entering a period of recovery. The SSE Index broke its historical daily transaction record with 3.
8 billion yuan, swiftly climbing to the 1000-point peak it hadn't reached in three months. " Harvest concept" stocks became the hottest theme, with small-cap stocks becoming highly sought after. Seizing the momentum of the market rebound, A Bao decided to pursue a "short-flat-fast" trading strategy. He observed that Qiang Mujie consistently used the '248' (Night Tokyo's address) as the tail number in his stock picks, leading A Bao to anticipate Qiang Mujie's heavy investment in 653 Shen Hua stock.
Ye Shu received an urgent letter and immediately made a phone call, advising the recipient to "escape." However, on December 17, 1993, in response to the recent volatile and unstable stock market conditions, the China Securities Regulatory Commission issued "Provisional Regulations on Public Company Share Distribution."
Relevant departments implemented swift and decisive measures to further regulate A-shares after institutional entry, restricting the ratio of stock distributions and thoroughly investigating violations such as the use of credit funds in the stock market and price manipulation. This news led to a dramatic decline: on Monday, December 20, the SSE Index fell below its 777-point "iron bottom," market volume contracted, and market enthusiasm rapidly cooled, with massive sell-offs occurring in various brokerage offices.
Consequently, A Bao's capital shrunk by one-third. Investors like Pang Ayi and Stamp Li worried about increasing losses, reporting their concerns to Commander Cai, who then relayed them to A Bao. A Bao, however, had no immediate solution.
Meanwhile, Qiang Mujie had made a significant fortune in Yingzhou Industrial, pioneering China's first acquisition case, and subsequently relocated his company to the Shanghai Bund financial district, focusing on developing prominent VIP clients and instructing his traders to build positions across various stocks. However, Nanguo Tou, Qiang Mujie's company, faced a severe crisis due to his aggressive management style, with funds shrinking by 40%, placing the company in a "life or death" situation.
The China Securities Regulatory Commission investigated Nanguo Tou for frequent trading of 653 Shen Hua stock, suspecting price manipulation. They were ordered to submit a detailed report of all buying, selling, and holding activities for the past week, along with daily transaction and fund flow statements, by market close the following day. The head office offered to send personnel to assist Qiang Mujie with the investigation, but he flatly refused, wishing to avoid any further disruption. Qiang Mujie desperately sought a solution to address the critical issue of bank credit funds entering the stock market, but his team was unable to provide one.
Episode 25 Recap
The financial market plunged into turmoil following "Black Monday," leaving restaurants along Huanghe Road deserted. Nanguo Tou, an investment firm, received a severe warning from the regulatory body for alleged irregular operations, and Strong Mujie, a manager there, faced scrutiny from his Shenzhen headquarters for his aggressive approach. Li Li decided to leave, offering to transfer Zhi Zhen Yuan to Strong Mujie, urging him to convert its assets into currency for appreciation.
Strong Mujie, however, was uninterested in running a restaurant and found Li Li's asking price too high, despite her warning that headquarters would consider national performance and Zhi Zhen Yuan was a valuable asset right beside him, and that there were other potential buyers. A Bao's capital plummeted by a third due to the stock market crash, but he refused to admit defeat.
He sought Li Li's help, proposing to borrow 30 million in entrusted funds to invest in the stock market as an agent, a request Li Li readily accepted. His mentor, Ye Shu, vehemently warned A Bao against such a risky endeavor, advising him not to borrow money for the stock market, but to return to foreign trade and focus on the substantial Walmart order.
A Bao, however, remained confident, believing the market would not stay low and that he could recover his losses. Cai Siling confirmed that securing such a large sum near year-end would be challenging but was instructed by A Bao to calculate the deficit. Meanwhile, Wang Mingzhu, determined to prove her capabilities, had accepted the Walmart order at a competitive price of 17 RMB. However, she was struggling to find a suitable processing factory.
If production didn't commence before New Year's Day, her company faced not only hefty liquidated damages but also a lawsuit, leaving her distraught. Her colleague, Wei Hongqing, prepared to take the blame for her, consulting Wang Lawyer about the potential legal repercussions and falsely telling his parents he was leaving for a distant trip. Wang Mingzhu was also hampered by manufacturers in Zhejiang and Shanghai who had closed ranks against her.
The volatile stock market also affected Fan Xinhua, whose Sanyang brand T-shirt sales were declining. Fortunately, during his company's prosperous years, he had purchased land in Shenzhen, which he now intended to sell to compensate his factory. Before leaving, Fan Xinhua visited Wang Mingzhu, finding her eating instant noodles alone in a corner. Feeling sympathetic, he invited her to eat noodles downstairs. He noted that he had retired from the market himself but was glad for his prior land purchase.
Aware of Wang Mingzhu's impulsive pricing in her competition with A Bao over the jeans business, Fan Xinhua suggested she seek opportunities in Shenzhen, sharing his own experience of revitalizing his factory. Wang Mingzhu, inspired by his words, decided to pursue opportunities in Shenzhen with him, planning to "cross the river by feeling the stones" and try her best, with Fan Xinhua offering to connect her with his former clients.
Tragically, Jin Laoban, the owner of Jin Meilin Hotel, had mortgaged his hotel to a Taiwanese businesswoman, Lin Tai, for a substantial high-interest loan. He had entrusted the money to Xiao Jiangxi, who lost it all in the stock market. With repayment due the following day, Xiao Jiangxi feared losing the hotel and desperately sought insider information from her friend Min Min, who, equally powerless in the stagnant market, could only offer her personal savings of 50,000 RMB for emergencies.
Jin Laoban had concealed the mortgage from his wife, Lu Meilin, who ironically had been publicly mocking others who lost money in the stock market, unaware of her husband's own devastating losses. An hour before the tragedy, Lin Tai arrived at Jin Meilin Hotel to collect her debt. Jin Laoban, terrified, hid. Xiao Jiangxi urged him to escape with the hotel's recent earnings and asked him to remove his ring, but he refused.
Lin Tai presented the mortgage contract to Lu Meilin, who, initially unaware of the situation, bought herself a week's extension. As Lin Tai departed, she saw Jin Laoban shivering at a window but continued on her way without calling out. Xiao Jiangxi opened the window to let Jin Laoban out. He slipped on the snow-covered sill, and despite Xiao Jiangxi's frantic efforts to pull him back, the window hinges broke, sending Jin Laoban plummeting to his death.
Li Li, passing by downstairs, witnessed the horrific event. Lu Meilin collapsed in shock upon seeing her husband's body being taken away. In the bloody aftermath, Xiao Jiangxi retrieved Jin Laoban's ring. A grief-stricken Lu Meilin turned her anger on Xiao Jiangxi, brutally assaulting her. Xiao Jiangxi was later taken to the hospital, while Min Min wept, blaming herself for not being able to persuade her friend. Following Jin Laoban's suicide, Li Li vanished.
A Bao, suspecting a deeper connection, instructed Cai Siling to investigate Li Li's background. Cai Siling uncovered that Li Li's former identity was Chen Zhen, one of "Mr. A's 18 Arhats." A Bao began to suspect Chen Zhen and Li Li were the same person. Li Li later recalled kissing Mr. A goodbye in Shenzhen, only to witness him jump into the sea in her rearview mirror, a tragic memory that left her heartbroken.
Mr. A's private equity fund had flourished, but its aggressive leverage after the Shenzhen market expansion led to its collapse, leaving behind a mountain of debt. Most of his core members, except Strong Mujie, had dispersed. A Bao eventually located Li Li at her home. She confessed that she had mortgaged Zhi Zhen Yuan to Lin Tai as a guarantee, aiming to give A Bao a chance to turn the market around.
Her plan was that if A Bao succeeded, she would take the cash and leave, transferring Zhi Zhen Yuan to him. If he failed, she would withdraw the guarantee, Lin Tai would cancel the designated transaction, and A Bao would be solely responsible for the consequences. A Bao understood her profound intentions and vowed not to flee like Mr. A, promising a win-win outcome or bearing the entire loss himself, without implicating Li Li.
Separately, Ye Shu approached Jin Hua (also referred to as Jin Ke), asking her to persuade Wang Mingzhu to transfer the Walmart order to A Bao. However, Jin Hua, known for her principled nature similar to Wang Mingzhu's, flatly refused and sent Ye Shu away.
Mei Ping later informed Ye Shu that Fan Xinhua had indeed found an old, reputable garment factory in Shenzhen for Wang Mingzhu, though Ye Shu expressed doubt about Fan Xinhua's limited capabilities in securing such a deal. As 1993 drew to a close, crucial decisions loomed for Wang Mingzhu's Walmart order, A Bao's path to his company's IPO, and Li Li's plan for departure, marking a pivotal moment of success or failure for each of them.
Episode 26 Recap
On Christmas Eve, Wei Hongqing, despite having no money, decorated the company balcony with a Christmas tree for Wang Mingzhu. Wang Mingzhu, preoccupied with her early 5 AM flight to Shenzhen the next day to meet Fan Xinhua regarding a clothing factory, initially paid it no mind. Wei Hongqing, knowing how difficult it was to buy Shenzhen tickets, offered to help. Seeing his lonely figure, Wang Mingzhu felt a pang of guilt and joined him to admire the night view.
Wei Hongqing promised to take her to the Peace Hotel for New Year's when they had money, which made Wang Mingzhu recall celebrating New Year's on the Peace Hotel rooftop with A Bao the previous year. Wei Hongqing then vowed to expand their company, and they toasted to a bright future. Meanwhile, A Bao sent Granduncle home for the New Year, gifting him items from friends and local specialties.
Granduncle, knowing Wang Mingzhu couldn't find factories in Jiangsu, Zhejiang, or Shanghai and intended to use Fan Xinhua's connections in Shenzhen, had Stamp Li buy all available Shenzhen plane and train tickets to prevent her from going and competing with A Bao. A Bao reimbursed Granduncle for these tickets but immediately ordered Stamp Li to secure two more Shenzhen tickets for Wang Mingzhu, without reimbursement, as punishment. Wang Mingzhu's efforts to buy tickets by phone failed.
Wei Hongqing tirelessly searched sales points for tickets, finding none. He then encountered a scalper who claimed to have tickets for that night. Believing the man to be a fraud, Wei Hongqing physically assaulted him, and both were arrested and taken to the police station. It was later revealed that Stamp Li, under A Bao's instructions, had arranged for this "scalper" to deliver the tickets to Wei Hongqing, leading to the misunderstanding.
Wei Hongqing, learning the truth, apologized to the scalper. In desperation, Wang Mingzhu decided to drive to Shenzhen herself. Remembering the Cadillac A Bao had given her, she went to Zhi Zhen Yuan to retrieve the car keys from Pan Manager, who immediately notified A Bao. A Bao then informed Wei Hongqing, who, just released from the police station, rode his motorcycle to chase after Wang Mingzhu. Granduncle, for his part, mobilized people to track Wang Mingzhu's movements.
Wei Hongqing, in his frantic chase, suffered a motorcycle accident and was hospitalized. A Bao instructed Stamp Li to continuously monitor Wang Mingzhu, noting that once she left the Jiangsu, Zhejiang, and Shanghai region, she would be free from Granduncle's control. Granduncle, convinced Wang Mingzhu wouldn't reach Shenzhen before New Year's Day, invited A Bao to dinner, worried A Bao might secretly help Wang Mingzhu, and used the opportunity to lecture him.
Wang Mingzhu drove her luxury car for two consecutive days and nights, becoming utterly exhausted. She stopped to rest, but was robbed. While chasing the thief, she was knocked unconscious and sustained a head injury, eventually ending up at a police station. A Bao received a call during his New Year's Eve dinner, informing him of Wang Mingzhu's situation. Granduncle, also receiving the news, fabricated a story about a home theft to quickly depart.
At the police station, Wang Mingzhu was found sleeping on a cot, bloodied. Fan Xinhua picked her up, urging her to rest. However, Wang Mingzhu insisted on pressing on without delay. They took a trishaw to a factory.
Fan Xinhua pleaded with his friend, Lu Factory Manager, portraying Wang Mingzhu as a client who had traveled day and night, been robbed, and seriously injured, only to now face the prospect of not getting her order, accusing Lu Factory Manager of breaking his word. While they argued, Wang Mingzhu examined their orders and noticed something.
She told Lu Factory Manager that this was her crucial first order, which had to succeed, and promised that her company, Mingzhu, would not forget his kindness if they pulled through. Lu Factory Manager reluctantly agreed to give her the order, but at an increased price. It was revealed that Granduncle was behind this difficulty.
He had learned that Fan Xinhua couldn't find another clothing factory in Shenzhen and had arranged for Mei Ping to approach Lu Factory Manager, securing other orders to complicate Wang Mingzhu's efforts. A Bao discovered Granduncle's interference from phone call records and immediately called for help. Fan Xinhua then suggested Wang Mingzhu seek assistance from Li Li, as he himself had benefited from Li Li's connections in Shenzhen.
With only one day remaining, Wang Mingzhu agreed to have Fan Xinhua contact Li Li. Fan Xinhua, however, called A Bao instead of Li Li's contact, Minmin. Through A Bao's intervention, Ma Factory Manager of Tianma Garment Factory offered Wang Mingzhu five idle production lines, promising to sign immediately at the most favorable price. Ma Factory Manager, a Hong Konger, even claimed to have grown up with Li Li.
Wang Mingzhu found Ma Factory Manager's excessive cooperation suspicious, suspecting he was A Bao's contact. Fan Xinhua admitted he had called A Bao, not Li Li, urging Wang Mingzhu to prioritize the company and let go of any personal obligations or feelings regarding A Bao. A Bao had agreed to compensate Ma Factory Manager for all his losses to secure the production lines for Wang Mingzhu.
After much consideration, Wang Mingzhu visited Ma Factory Manager at the factory, asking him to convey her thanks to A Bao, but she left without signing the contract he had prepared for her, desiring to establish clear boundaries. Granduncle, hearing about Wang Mingzhu's initial success, didn't believe Li Li was involved. Later, he learned Wang Mingzhu had signed a contract with Lu Factory Manager at Qicai Garment Factory.
He ordered an investigation into who had helped her, only to discover it was A Bao. On New Year's Day, the Peace Hotel was as festive as ever. A Bao arrived at his company to find Granduncle waiting. Granduncle fiercely reprimanded him, threw down an envelope, and accused A Bao of pursuing "Suzhou River dealings" despite Granduncle's meticulous plans for A Bao's "Huangpu River affairs," before storming out in anger.
Episode 27 Recap
On New Year's Day in 1993, Ye Shu painstakingly sought a Walmart order for A Bao, aiming to secure a fallback for him. However, Wang Mingzhu gained the upper hand and secured the order first. Ye Shu then tried every possible means to prevent Wang Mingzhu from completing the Walmart order. Unbeknownst to Ye Shu, A Bao subversively and secretly helped Wang Mingzhu find a clothing factory, Tianma Clothing Factory, which offered favorable prices.
Ye Shu was furious upon discovering this and stormed out. Wang Mingzhu learned that A Bao had helped her contact Tianma Clothing Factory. Despite the excellent prices, she deliberated and ultimately decided to reject the help, choosing to sign a contract with Director Lv out of pride and a determination to at least break even, if not profit. Fan Xinhua criticized her for being overly serious, yet he couldn't refute her optimistic spirit.
Following this, A Bao continued to assist Wang Mingzhu by finding another supplier, Qicai Clothing Factory, a detail Fan Xinhua kept hidden from her. As the New Year's bells rang, marking the arrival of 1994, with fireworks lighting up the country, Wang Mingzhu celebrated with her workers. A Bao, puzzled, couldn't understand why Wang Mingzhu had refused his assistance.
On that same New Year's Day, the nation announced the convergence of its currency exchange rates, making the foreign exchange rate differences a thing of the past. The RMB exchange rate surged, and overnight, Wang Mingzhu's Walmart order turned from a potential loss to a significant profit, earning her an estimated eighty thousand yuan and instantly making her an industry legend.
Overcome with gratitude, Wang Mingzhu conveyed her thanks to Fan Xinhua, who had been instrumental in helping her throughout this journey. They exchanged heartfelt goodbyes, agreeing to "meet again in the martial world." Upon hearing this, tears welled in Fan Xinhua's eyes; he subsequently left the business world with his gift and returned to his hometown for retirement, reflecting on the inspiring spirit Wang Mingzhu had shown since their first encounter.
A Bao, drawn by an unspoken impulse, found himself at a restaurant. Li Li happened to be there as well, and their paths unexpectedly crossed. Both desired a relaxed New Year's Eve dinner, not wanting to discuss business. A Bao was reminded of eating hotpot in a crowded Hongshunxing with Xue Zhi, his former girlfriend, where he could only see half of her face.
He lamented that Xue Zhi had not lived to see their ten-year promise, having died in Hong Kong in November 1993, the last time he saw her. He still struggled to accept her death and had rushed to Hong Kong to mourn. Emboldened by alcohol and touched by the moment, Li Li explained the reason for her sudden departure from the business world. She had personally witnessed Jin Laoban's brutal death, which deeply affected her.
She immediately went to Qiang Mujie afterward, admitting that while she had changed her name to Li Li, she could never erase the profound memories of her past as Chen Zhen, which included painful experiences in Shenzhen. Li Li explained that she could stake Zhizhenyuan as a gamble for A Bao, but Chen Zhen could not, as the money she used to purchase Zhizhenyuan had been left by Mr. A before his death.
With him gone, Li Li felt she could not return to her old self, but she had no regrets, for A Bao had not retreated like Mr. A. A Bao vowed never to disappoint Li Li. Li Li warned him never to trust kindness from strangers, but A Bao extended his warm hand, clearly stating he was not a stranger. Li Li suddenly turned, gazing at A Bao with deep affection.
She leaned in, seemingly to kiss him, but stopped herself at the last moment and hastily ran off, leaving A Bao bewildered in the wind. After Ye Shu's departure, A Bao's life continued as usual. Seeking a fresh start, he inadvertently came across a ledger sent by Ling Zi, which also included a passbook A Bao had given her, making him realize that the past had never truly left him.
Meanwhile, Old Gu, the respected old doorman of the Peace Hotel, honorably retired, passing his position to his grandson, Xiao Xiao Gu. Old Gu advised his grandson to learn business from A Bao. Xiao Xiao Gu, diligent and aspiring to be as popular as his grandfather, utilized every spare moment to study foreign languages. A Bao took a special interest in him, promising to give him a yuan for every language he mastered, a promise he consistently fulfilled.
On Huanghelu, the other restaurant owners planned a gathering at Zhizhenyuan. However, Lu Meilin vehemently refused to join, believing in the shifting tides of fortune and unwilling to rely on Zhizhenyuan, despite Jin Meilin restaurant's plummeting business following Jin Laoban's death. Lu Meilin struggled to attract customers and, in desperation, sought help from Li Li, though she remained defiant. She stated that if Li Li were to assist her, she would ensure Li Li's smooth success on Huanghelu.
Conversely, she warned that if Li Li failed to help her overcome this hardship, any takeover of Jin Meilin would mark the beginning of Zhizhenyuan's decline. Li Li declined, citing her own tight finances, though she felt a hint of pity for Lu Meilin. The owner of Ri Ri Xian restaurant began to express envy for Jin Meilin's prime location and prepared to acquire it. Mrs. Lin arrived at Jin Meilin with mortgage papers.
Lu Meilin shared her deep-seated hatred for stock speculation, which had claimed her husband's life, and despite her dire situation, defiantly asserted that her restaurant would continue to operate, even under a new owner, implying that Zhizhenyuan would then decline. Lu Meilin, her package in hand, departed without returning to Jin Meilin. She walked alone on the street, where an old lover picked her up.
As she looked back at the restaurant she had painstakingly built over many years, she was filled with a mix of complex emotions and deep reluctance. Xiao Jiangxi, unable to afford further medical care, left the hospital. She packed her luggage, intending to find a new path. Before leaving, Xiao Jiangxi went to say goodbye to Minmin and Lisa, her two friends who, like her, had come from the countryside to Shanghai to seek a better life, enduring many hardships.
Penniless, she pawned a ring given to her by Jin Laoban to borrow money from Minmin. Minmin and Lisa gave Xiao Jiangxi all the money they had. The three sisters, who had once arrived in Shanghai together, now had to part ways, leaving Xiao Jiangxi to shed tears, reflecting on their past struggles and how her own actions had led to her current predicament.
Episode 28 Recap
In 1978, A Bao met Xue Zhi, a 20-year-old, beautiful, and elegant bus conductress known as the "Thirteenth Route Flower." From a privileged background, Xue Zhi enjoyed stamp collecting, calligraphy, chess, and learning English. A Bao was deeply smitten with her, once buying her books in the rain and, on his first visit to her house, climbing a wall to pick plum blossoms for her, which led to their first kiss.
Although A Bao hoped for a future with her, Xue Zhi later went to Hong Kong. Their last meeting was in Hong Kong, where Xue Zhi asked A Bao to keep their encounter a secret and act as if it had never happened. After her death, A Bao visited her hometown, finding her belongings but she was gone. In 1987, the establishment of Yu Garden Shopping Mall initiated Shanghai's commercial shareholding reform.
Seven years later, the Apparel Company was set to be the last of eight stocks to list. On December 31, 1993, Mei Ping, who had resigned from a foreign trade company to start her own, visited Ge Laoshi with a New Year's gift and a document. Ge Laoshi refused her gift, stating she hadn't persisted at No. 27 and lacked a "No. 27 background," showing no favor to her.
Mei Ping, realizing Ge Laoshi's pragmatic "useful when needed, useless otherwise" attitude, retreated, vowing never to return but leaving the document, which Ge Laoshi accepted. Outside, Mei Ping encountered A Bao. She questioned his persistent disdain, to which A Bao retorted that Wang Mingzhu never wronged her, but Mei Ping betrayed their friendship. Mei Ping argued that Wang Mingzhu was too high-profile, leaving no room for others. A Bao felt he learned a lesson from Mei Ping that day.
Reflecting on Ge Laoshi's enduring support, A Bao recalled his first lesson from Ge Laoshi: the Empire State Building takes an hour to ascend but only 8. 8 seconds to fall, understanding its profound meaning regarding risk and consequence. On January 2, 1994, the Pudong Securities newspaper announced the payment schedule for subscription certificates. The Apparel Company's impending listing generated significant market interest. Qiang Mujie approached Apparel Company CEO Cai to propose cooperation.
He learned A Bao's proposed opening price was 10 yuan and, aiming to trap others and having acquired inside information from CEO Cai regarding the 10 yuan low price, immediately offered 18. 88 yuan for the opening price. A Bao returned to the Peace Hotel to find Ge Laoshi waiting. Ge Laoshi, having anticipated A Bao's return and his own unwavering commitment, had already paid for A Bao's room.
He had prepared Walmart as a potential fallback for A Bao, but A Bao himself had closed that option. With the Peace Hotel demanding overdue room fees, Ge Laoshi advised A Bao to retreat from the chaotic stock market, suggesting he leave this troubled place if he were to lose this time. A Bao understood Ge Laoshi's intent.
On the listing day, the Shanghai Composite Index was volatile, nearing the Chinese New Year holiday, with most institutional investors inactive and retail investors taking a wait-and-see approach. As the market opened, intense tension built. A Bao directed operations from behind while Qiang Mujie's team aggressively began acquiring shares, driving A Bao's price higher. Both sides fiercely bid for shares, a powerful opening strategy Cai Ling Zi had never witnessed. Investors became excited. The Apparel Company's stock quickly reached 10.
80 yuan, and through Qiang Mujie's aggressive play, eventually closed at 18. 88 yuan, marking his first victory. CEO Cai, immensely impressed by Qiang Mujie's performance, watched as South State Capital's triumph garnered significant market reputation and re-secured approval from its Shenzhen headquarters. A Bao suffered a setback in this first round, while observing the fierce competition, the Qilin Society considered intervening.
In the subsequent five trading days, Qiang Mujie, employing multiple accounts, drove the Apparel Company's stock with four consecutive strong upward movements, pushing the price to 25 yuan and turning it into a market hot spot. A Bao, seeing this, decided to go all in, selling all 500,000 shares he held. Qiang Mujie, aiming for complete control and to oust A Bao, instructed his traders to engage in short-selling and covering short positions.
A Bao, in response, decided to fight a protracted battle against Qiang Mujie. He acquired computers and dispersed his funds across various individual accounts, though in reality, it was managed as a single consolidated account. Qiang Mujie's South State Capital then engineered volatile swings in the stock price, making it difficult for retail investors to grasp the pattern. The average price hovered around 10.
88 yuan, allowing Qiang Mujie to profit significantly from the price differences, a strategy A Bao's side had not encountered before. Over the next two days, two large negative candlestick patterns obliterated the bullish momentum. Qiang Mujie exploited rumors of major players withdrawing to further trade on price differences. The stock price stabilized around 28 yuan for several days, followed by a second sell-off, then a third after another period of stabilization, these repeated fluctuations disorienting Shanghai's retail investors.
Realizing Qiang Mujie's intention to force A Bao out, Cai Ling Zi conveyed this to A Bao, though others like Wu Doctor at the Qilin Society struggled to comprehend Qiang Mujie's tactics. A Bao instructed Cai Ling Zi, Postal Stamp Li, and Fat Auntie to utilize "tractor accounts"—a strategy of following South State Capital's movements to buy shares at low prices, an ambush designed to "capture" Qiang Mujie.
With profits quickly reaching 15%, A Bao believed it was the opportune moment to restore investor confidence. Cai Ling Zi actively promoted the Apparel Company's stock at the securities company, even publicizing a proposed bonus share plan of ten shares for every five held, plus an additional five. Fearing CEO Cai might not agree to A Bao's plan, A Bao correctly anticipated that CEO Cai would seek him out.
When CEO Cai did, A Bao advised him to issue bonus shares to instill confidence in the shareholders. CEO Cai agreed to bring the matter to a board meeting. After the Apparel Company released its annual report, the stock price began to rise. Qiang Mujie, however, warned CEO Cai against hastily issuing bonus shares.
His investigation revealed that A Bao was merely an agent, with two primary financial backers: the owner of a Ningbo apparel factory and Lin Tai, whose funds were held in a "Dove's account." Qiang Mujie decided to "cut off A Bao's left and right arms." He successfully persuaded the Ningbo apparel factory boss to withdraw funds, and news soon reached A Bao that the Ningbo boss had fled with the money, leaving A Bao with only 100,000 yuan.
Subsequently, Qiang Mujie contacted Li Li to acquire her Zhizhen Garden. Li Li, after increasing her asking price by 15%, signed an agreement with Qiang Mujie. As a result, Lin Tai's investment, which was guaranteed by Zhizhen Garden, was transferred to Qiang Mujie's name, effectively removing A Bao's second financial pillar.
With both his "left and right arms" severed and half his base capital gone, A Bao was left helpless, realizing that if the stock price were to fall to 10 yuan, he would be penniless.
Episode 29 Recap
Qiang Mujie and A Bao engaged in multiple rounds of intense stock market battle, reaching a stalemate. At a critical moment, Qiang Mujie employed a decisive tactic, catching A Bao off guard and forcing his defeat. A Bao decided to withdraw his personal cash and distribute it among Cai Shiling, Youpiao Li, and Pang Ayi, declaring the temporary disbandment of their "Little Lehui Fleet." Meanwhile, Wang Zong of Xiguo Tou adopted a conservative strategy to minimize losses.
Wu Yisheng of Qilin Society, after reviewing the apparel company's annual report, discovered that it would neither distribute annual dividends nor transfer capital reserves, and also had an unresolved contract dispute. He immediately warned key shareholders to be cautious and closely monitor the stock, suspecting negative news. Cai Zong, head of the apparel company, reneged on his promise of a "ten for ten" share distribution plan.
He denied the scheme, falsely claimed funds were being transferred for production, and refused to answer A Bao's calls. Cai Shiling suspected that Qiang Mujie had influenced Cai Zong, expressing concern for A Bao. Qiang Mujie, aiming to completely crush A Bao, instructed his traders to push the stock price up to 12 yuan. The apparel company's stock plummeted drastically from 18. 8 yuan. If the price fell to A Bao's targeted opening price of 10.
88 yuan, all of A Bao's assets would be wiped out. A Bao attempted to sell his 15 million shares, but found no buyers. The stock exchange notified Wang Zong that the necessary funds must be replenished by 9 AM the following day, or forced liquidation would occur. Wang Zong informed A Bao, who asked him to find a way to raise capital, but Wang Zong admitted he was helpless.
Wu Yisheng closely monitored A Bao's every move, and A Bao also awaited Wu Yisheng's intervention. Both knew that if they prematurely closed positions, Qiang Mujie would seize the opportunity to completely overwhelm them. Conversely, if Wu Yisheng remained inactive, A Bao would be out of the market. Cai Zong then pleaded with Qiang Mujie to help calm public opinion regarding the apparel company, stating that otherwise, the company could not survive in Shanghai.
Qiang Mujie agreed to find a solution. During this intense period, A Fang frantically searched for Tao Tao, eventually coming to Ling Zi's Night Tokyo in tears, fearing Tao Tao had been taken by another woman and had abandoned her. Ling Zi, while trying to console A Fang and advise him to change his temper, unexpectedly noticed a lot of blood on the floor. It turned out A Fang, due to extreme emotional distress, suffered a miscarriage and severe bleeding.
Ling Zi and Ge Laoshi quickly rushed A Fang to the hospital, where medical staff worked to save the baby, which was eventually preserved. A Bao and Tao Tao arrived at the hospital. A Fang's parents confronted Tao Tao at the hospital, but Ling Zi mediated, helping to calm the family down. Ling Zi explained the gravity of the situation to Tao Tao, urging him to think clearly.
Tao Tao, who desired freedom and struggled with A Fang's temper, initially still wanted a divorce and to live a "free and easy" life. However, A Bao scolded and persuaded him to consider his child. After careful consideration, Tao Tao decided to return to his family, abandoning thoughts of another person, and commit to living well with his wife and child. A Fang was overjoyed and cried emotionally upon seeing Tao Tao.
A Bao, witnessing their reconciliation from the window, felt deeply relieved. A Bao returned a bankbook to Ling Zi, stating he was worried that if he completely failed this time, he would have nothing left, and the money would be safer with Ling Zi.
Ling Zi, who had already faced reality and realized his unrequited feelings for A Bao from the first time he entered his home, told him they could no longer return to their past relationship and blamed him for letting "Grandpa" leave, but advised him to use the money for emergencies. Later, Qiang Mujie hosted a celebration banquet at Ling Zi's Night Tokyo, specifically waiting for Cai Zong at the entrance.
From Qiang Mujie's expression, Ling Zi discerned his intent to defeat A Bao. Qiang Mujie also offered Ling Zi the management of Zhizhen Garden, which now belonged to him. After all the guests, including Cai Zong, had departed, Qiang Mujie, who had waited for Ling Zi, shared a bottle of wine with him.
Qiang Mujie expressed his desire to return to Shenzhen before the end of the year and wanted Ling Zi to accompany him to open an even larger restaurant there. Ling Zi, however, felt an attachment to his current Night Tokyo, wished to start a new life, meet different people, forget some past events, and hoped to be worthy of everyone in the next three years.
As he left, Qiang Mujie took the remaining wine, stating he would wait for Ling Zi in Shenzhen and instructing Ling Zi to convey a message to A Bao: if he did not retreat by tomorrow, he would lose everything. The next morning, Qiang Mujie was fully prepared to witness A Bao's downfall, describing A Bao's situation as the most intense forced liquidation battle in history. The stock exchange delivered the forced liquidation notice to Wang Zong.
A Bao remained silent, and Wang Zong knew he couldn't raise the necessary funds. Cai Shiling regretted having drawn A Bao into the stock market, causing him to endure its ups and downs only to face complete defeat. Pang Ayi and Youpiao Li were reluctant to disband the fleet. With the market on the verge of opening and A Bao still absent, Cai Shiling instructed everyone to leave.
However, A Bao suddenly called Cai Shiling, announcing that he had resolved the crisis. Just minutes before the market opened, Wu Yisheng of Qilin Society had proactively called A Bao, agreeing to provide 30 million yuan in funds to Xiguo Tou. In return, A Bao had to hand over all his shares to Qilin Society.
Wu Yisheng then offered A Bao a choice: either 2 million yuan in cash or 3 million shares of Qishan Coal & Power (or Qishan Company) corporate shares, which would provide annual dividends. A Bao rejected both financial offers. Instead, he proposed that Qilin Society relinquish a specific land project he had always valued—a piece of land acquired in Chuansha (which A Bao and Fa Gen had bought together) that A Bao intended for Fa Gen's son, A Si.
Alternatively, it was a project involving Qilin Society's acquisition of a township enterprise, where A Bao's friend had an adjacent empty plot with resources and technology; A Bao requested Qilin Society to stop the acquisition and lease the land to him. In exchange, A Bao would withdraw from the stock trading market entirely and focus on planting flowers. After five seconds of deliberation, Wu Yisheng agreed.
Qiang Mujie, who had intended to mock A Bao, was infuriated by Qilin Society's last-minute intervention. He had carefully planned and spent 30 million yuan, hoping to recover his losses in the second market wave, but instead, Qilin Society acquired the base shares, leaving him empty-handed. He wanted to seek Li Li's help, but she had already departed the previous night.
A Bao, having completed his commitments as "Boss Bao" over seven years, packed his belongings and left the Heping Hotel. Li Li used the proceeds from selling Zhizhen Garden to repay all of A-Mr.'s remaining debts. She then voluntarily confessed to the police about her crime of fraudulently using someone else's identity. She was sentenced to one year in prison. Years later, Li Li became a nun at Huanan Temple in Guangzhou. On her journey, she recalled the scene of A-Mr.'s farewell in Shenzhen, where the moment A-Mr. jumped into the sea, turning around, looked exactly like A Bao.
Episode 30 (Ending) Recap
A Bao left the Peace Hotel, transitioning from "Boss Bao" back to "A Bao." Little Gu, who had learned 26 languages and was given one final subject by A Bao—learning various local Chinese dialects, as the Peace Hotel would host more domestic guests—saw him off, expressing gratitude for his continuous help and support, and believed A Bao would eventually return.
In March 1994, Qiang Mujie was arrested by the police on March 1st. He had caused substantial losses to Southern International Investment in the apparel company battle, leading to a thorough investigation by the Shenzhen headquarters. He was charged with dereliction of duty, causing significant losses to state property, and sentenced to three years in prison. This occurred exactly seven months before the official opening of the Oriental Pearl Tower.
After three months of working overtime, Wang Mingzhu finally completed her first batch of orders. In March, she returned to Shanghai from Shenzhen, bringing a large cake to share with her old colleagues at Unit 27, who praised her for retaining Boss Bao's composure. She believed her success was due to the foreign exchange difference knowledge she gained from Jin Hua, and that Jin Hua had deliberately given her this order, understanding her mentor's intentions.
Jin Hua jokingly advised Wang Mingzhu to visit Unit 27 less often, as everyone was now inspired to venture out independently, which Wang Mingzhu thought was a good outcome, bringing credit to Unit 27. Wang Mingzhu hugged Jin Hua tightly, thanking her for her support and the knowledge that had revived this critical order. The national foreign trade industry was rapidly developing, and the original macro-management model was no longer adequate.
The state proposed reorganizing state-owned enterprises under a modern enterprise system to foster the growth of national foreign trade. Consequently, the departments of the foreign trade general company were restructured, making the term "Five Golden Flowers" a thing of the past. Jin Hua was preparing to go abroad. A Bao's Uncle sent her a stamp album as a wedding gift. Jin Hua had asked Wang Mingzhu to sell it in an emergency.
Later, Uncle stumbled upon the album and bought it back, returning it to Jin Hua. Jin Hua chased after him, feeling conflicted as she watched his retreating figure. The album, which had been passed down for decades, contained many stamps her husband had brought from abroad, giving it significant meaning. Jin Hua looked towards the Oriental Pearl Tower, which was also the direction of Wang Mingzhu's warehouse.
Wang Mingzhu's company had moved from a small room into a large warehouse owned by Wei Hongqing's father, which would facilitate convenient goods handling. Their new company in Pudong Lujiazui opened, located near a pier, referencing Wang Mingzhu's past declaration of being a pier herself. Wei Hongqing, who silently admired Wang Mingzhu, prayed for dual success in his career and love life before a lucky cat.
Wang Mingzhu used 80,000 yuan from her first earnings for necessary expenses and gave half of the remaining 10,000 yuan to Wei Hongqing. Wei Hongqing refused the money, wishing instead to discuss their relationship. Wang Mingzhu, aware of his feelings and not wanting him to experience similar heartbreak as she had, clearly defined their relationship as strictly a partnership.
Wang Mingzhu brought a Singaporean client, introduced by Fan Xinhua (who was now cultivating roses in the countryside), to Night Tokyo for dinner. Ling Zi had reserved the best private room for them and served Wang Mingzhu's favorite fish roe rice balls, as it was the client's birthday. As Wang Mingzhu and her friends sang birthday songs, Ling Zi was overcome with emotion, recalling past birthdays celebrated with A Bao and others.
Wang Mingzhu inquired about A Bao's whereabouts, but Ling Zi had no information, nor did the Peace Hotel. Wang Mingzhu felt profound guilt, believing that A Bao's assistance to her had angered Uncle, leading to A Bao's downfall in the stock market. Ling Zi admitted she had contemplated telling A Bao insider information before his incident but ultimately held back, wanting to see if Boss Bao's success was truly dependent on her luck.
Ling Zi planned to leave Night Tokyo, with her destination either Beijing or Hong Kong, where she intended to open a new store, leaving Ge Laoshi in charge. Wang Mingzhu gave Ling Zi's business card to her Singaporean client to promote Night Tokyo. Wang Mingzhu expressed her belief that Ling Zi would eventually return, and they would then toast together.
In Ling Zi's philosophy, there was no concept of relationships fading; only business as usual, working harder for greater rewards, and always living life to the fullest. Wang Mingzhu drove to return the Cadillac to A Bao, bringing the keys to Pan Manager, only to discover that Yellow River Road had changed drastically. Zhizhen Garden had closed down and been redecorated as a karaoke bar, with all its former staff gone.
Jing Xiu, the small cigarette stall owner, called out to Wang Mingzhu. He had transformed his stall into a cold drink shop named "The Passerby" and was also considering selling fruit and flowers. Jing Xiu updated Wang Mingzhu on the changes that had swept Yellow River Road in recent months. Pan Manager was the last to leave a week prior. Li Li had signed a two-year contract with Pan Manager, having foresightedly anticipated True Fragrance Garden's closure after two years.
Pan Manager had declined to take over True Fragrance Garden. Li Li planned to return to the Garden Hotel. Rumors circulated that Li Li had known Boss Bao for a long time, but Pan Manager stated that it might not be the same person, and even if she knew, she wouldn't disclose it, only commenting that Li Li's time in Shanghai was not in vain.
With Pan Manager gone, Wang Mingzhu didn't know who could hand over the car to A Bao. Jing Xiu advised her to keep the Cadillac, stating it was Boss Bao's heartfelt sentiment and a source of confidence for her. However, Wang Mingzhu declared that she wanted to prove herself independently and that the Cadillac was not what she sought. She entrusted the car keys to Jing Xiu, asking him to return them to A Bao when the opportunity arose.
A disoriented person passed by, shouting "Boss Bao," which filled Wang Mingzhu with sorrow, making her reflect on how few people now remembered the once-dominant A Bao. Seeing the "The Passerby" sign, Wang Mingzhu felt a sense of melancholy, realizing she too was merely a passerby on Yellow River Road. On October 1, 1994, the Oriental Pearl Tower officially opened, drawing many people to the Huangpu River.
A Bao stood amidst the crowd, gazing at the dazzling fireworks, recalling his five-year agreement with Wang Mingzhu. They had agreed to watch the Oriental Pearl Tower opening, with A Bao suggesting the Peace Hotel rooftop and Wang Mingzhu suggesting her office at Unit 27 or the foreign trade building. On this day, A Bao stood in the crowd, while Wang Mingzhu watched the magnificent spectacle from her company building, separated by the Huangpu River.
On June 30, 1997, A Bao was in Hong Kong, witnessing the celebrations of the handover. That night, the five-starred red flag symbolizing sovereignty was raised on schedule. Lan Kwai Fong, Hong Kong's largest night market, was packed with people celebrating the thrilling moment throughout the night. The entire nation was jubilant, and countless individuals bore witness to history. The agreement A Bao had with Xue Zhi meant she would never see this moment.
After '97, new opportunities and challenges emerged. A Bao went to Chuansha, where he began cultivating land with Fa Gen's son, Ah Si. He had also been farming crops in the countryside with Fan Xinhua's son since leaving Shanghai, overseeing vast and endless farmlands.
