Next, he liquidated his position in G Ship International. He had purchased it at an average price of 2.27 yuan per share, holding 30 million shares. After a bonus issue of 2.7 shares for every 10 held, his actual holdings grew to 37.1 million shares.
The average selling price was 101.33 yuan, yielding a profit of 99.06 yuan per share. In total, he profited over 3.6 billion yuan, an increase of more than fiftyfold.
The stock with the greatest percentage gain had an average purchase price of only 0.81 yuan per share. When he sold, the average price was 86.81 yuan. Including the bonus shares, the value had actually increased by over one hundred and thirty times.
Because the stock was so cheap at the time, he bought a substantial amount: 50 million shares. With another bonus issue of 3.2 shares for every 10 held, his total holdings reached 66 million shares. He profited 86 yuan per share, with total earnings exceeding 5.6 billion yuan.
