"After the group and Tian Zhou confirmed cooperation, we will proceed with deeper, more extensive collaboration!"
"As many of you may know, we initially offered 2 billion shares for subscription, of which 1.36552 billion shares were not successfully subscribed. These shares were originally intended to be released into the stock market for free trading. However, after careful consideration, we have decided to isolate these shares and entrust them to the Jiangnan Foundation for independent management!"
"These shares will continue to be sold through the same method as during the initial subscription, in cooperation with the Tian Zhou App Store!"
"However, to further improve application quality, the previous method of redemption using listing codes will be adjusted. The number of shares redeemable per listing code will be reduced from 10,000 shares to 1,000 shares."
"Furthermore, listing codes and their corresponding applications will not lose their significance. Instead, we will continue to reward shares based on the user influence or sustained revenue generated by the application!"
"For applications sold for free as public welfare software, shares will be awarded based on user influence. For every 10,000 points of user influence, you can receive subscription rights for 1,000 shares of 00 Network. This method allows for a maximum of 100,000 shares of 00 Network stock."
"The company will announce the specific user influence formula in a later announcement. This formula will also be subject to regular revisions to prevent malicious influence manipulation. All rights to interpret this activity belong to Jiangnan Group."
"For example, if an application generates $10,000 in sales revenue after listing, through advertising clicks, product sales, top-ups, or other means, we will award subscription rights for 100 shares of 00 Network stock. For every subsequent $10,000 in sales revenue, another 100 shares of 00 Network stock can be obtained. There is no upper limit until all 00 Network shares have been subscribed."
"Regarding the subscription price, we promise that the subscription price for these shares will always be 90% of the previous day's stock market closing price. For example, if the stock closed at $50 per share today, then the purchase price will be $45 per share until the market closes tomorrow."
Leng Zhimeng finished speaking, and everyone present had different expressions, each contemplating the implications of 00 Network's decision for themselves.
Firstly, the major financial institutions were delighted because this resolved a significant subsequent issue for them: how to handle the newly established network development companies.
Previously, to gain more subscription rights for 00 Network shares, they had established numerous new program development companies and hired a large number of programmers for these companies.
However, with the listing concluded, these program development companies and programmers were clearly no longer needed. Those transferred from existing companies could simply return to their original positions.
But the problem of how to resettle the newly recruited junior programmers became a significant one. While they could be directly dismissed, it would have negative repercussions and require compensation payments.
With this subsequent policy, however, the problem was solved. They could continue to employ these programmers, have them continue developing, and subscribe to 00 Network shares.
Of course, with the change in subscription rules, the blind, large-scale expansion focused solely on quantity was bound to be discontinued.
After all, from the current perspective, the return per 1,000 shares was only around $5,000, far less than the $100,000 return originally.
Therefore, pursuing quantity solely for a listing code no longer held much practical significance.
While there was still profit to be made, it was earned through arduous effort, and these financial institutions disdained earning such money. They were more interested in the income derived from continuous subscription rights.
Thus, these financial institutions decided to abandon the idea of dissolving the newly established program development companies. They would, however, recall their senior programmers, leaving behind the newly recruited programmers dedicated to developing applications for the Tian Zhou App Store.
The focus would shift from quantity to quality.
Meanwhile, Microsoft and Intel, who were watching the live broadcast, were not pleased. They understood that the situation they had anticipated – the sudden disappearance of a large number of five-进制 programmers after the Jiangnan Group's activity concluded – was unlikely to occur.
On the contrary, these programmers would likely remain as long as the redeemable shares of 00 Network existed. They would continue to produce high-value Tian Zhou applications, forcefully building a vast application ecosystem for the five-进制 computer system.
Of course, there would be an end to these over 1.3 billion shares of 00 Network stock. However, this was at least two or three years, perhaps even five or six years, away. By then, the Tian Zhou system and its applications would likely be quite mature, and a developed user market would exist. The existing program development companies could sustain their value solely through revenue generated from users.
With this in mind, Microsoft and Intel's expressions were naturally very grim.
Finally, the vast majority of the audience present were casual observers who had not participated in the previous subscription. These observers were unaware of the mechanism of subscribing through listing codes. Later, by asking acquaintances and reading news reports, they discovered that there was indeed a way to obtain 00 Network shares at a lower price.
This made them somewhat tempted, even considering whether they could find a way to develop a program themselves.
Another portion of the shareholders was digesting the underlying value of this news. This incentive policy would inevitably lead to an increase in the number of programs on the Tian Zhou App Store. A greater number of programs in the app store would lead to higher user engagement, and consequently, a larger user base for Tian Zhou terminals. This, in turn, would drive up 00 Network's revenue and stock price.
This was another significant positive development!
These pieces of news continuously stimulated the shareholders watching the broadcast and guided their decisions.
As mentioned earlier, 00 Network's listing had generated significant momentum due to its position as the second most profitable company in history, attracting immense attention. Nearly all shareholders were watching or following this news, so they were immediately aware of these two major positive developments.
All of this was changing the overall landscape.
At 9 AM US time, the Nasdaq finally opened. 2 billion shares of 00 Network were directly released into the market at an initial offering price of $50 per share.
Subsequently, the stock price's movement would be determined by supply and demand. If a large number of 00 Network shareholders sold their shares at a low price at this moment, the stock price would fall rapidly.
Conversely, if there was high demand, it would drive the stock price up. xxs
Given the large volume of shares released into the market, the market consensus was that 00 Network's stock price would initially decline, potentially falling below $40 to stimulate consumer confidence and encourage purchases at that price level.
However, perhaps due to the simultaneous release of two positive news items, the financial institutions that had acquired over 600 million shares through advance subscriptions chose to hold their positions and observe, rather than immediately selling their shares for profit.
As a result, 00 Network's stock price only experienced a minor dip to around $49.2 before substantial buy orders emerged, pushing the price back up to approximately $50. About 20% of the 2 billion shares sold were absorbed by retail investors.
However, the $50 price was still considered high, and the sheer volume of 2 billion shares was substantial. Retail investors could only absorb about 20% at that price. Soon, the market lacked buying power, and selling pressure increased, causing 00 Network's stock to begin a sustained decline, eventually triggering a landslide-like momentum.
In just 10 minutes, the stock dropped from $49 to $45, then fell to $41 within another 20 minutes. After an hour, it had fallen below $40, reaching $36 per share.
The market was immediately filled with mockery, with many ridiculing 00 Network's arrogance and their belief that their stock was worth $50 per share, calling it a ridiculous notion.
Shareholders who had bought at the high price of around $50 were naturally furious and regretting their decisions, with some even contemplating drastic actions.
Fortunately, the market recognized that a price of $36 per share was an exaggeration, especially for a company with an annual profitability of $44 billion. Even if the shares were not sold, simply collecting annual dividends would yield substantial returns.
This was why institutions were willing to pay a premium to buy shares at $30 each, as these shares represented a sure profit, more stable than any bonds or bank funds.
At this point, some noticed that the Western Mustangs Fund began to bottom-fish, acquiring a large number of shares around $36.
This prompted other financial institutions to stop selling and to aggressively buy into the dip, purchasing 00 Network shares at low prices.
However, due to the scarcity of individual 00 Network shares in the market, when large institutional funds poured in, 00 Network's stock price began to soar at an unimaginable speed.
The stock had fallen to $36 in three hours, but within just 10 minutes, it had rebounded to around $45 per share. This dramatic volatility caused the retail investors who had just sold off their holdings to regret their decisions once again. Hindsight analysts began dissecting the institutional operations on various online forums, suggesting it was a ploy to lure retail investors into selling their newly purchased shares.
This further frustrated retail investors, who then frantically mobilized their remaining funds to purchase 00 Network stock.
As a result, with one hour left until the market closed for the day, 00 Network's stock price stabilized at around $48 per share. While this was still significantly lower than the initial offering price of $50, the mere $2 drop greatly exceeded the predictions of all stock analysts.
European bookmakers were also delighted, as most had bet on prices around $40. If the price stabilized at $48, they would make a considerable profit.
Indeed, quite a few people had bet on prices around $50, which offered a 1:3 payout.