Chapter 764: Baiyue Company Goes Public!

Chapter 764: Baiyue Corporation Goes Public!

As the players had anticipated, they found four wounded and isolated mutants in the residential area of Shazhou Island.

Three were hiding in the sewers, and one had taken refuge in the hospital morgue.

The peculiar living habits cultivated on Shifeng Mountain had taught them to seek shelter in dark corners.

After eliminating all hidden threats, the residents of Shazhou Island began returning to their homes one by one on the second day following the naval battle.

Construction of the submarine cables and freshwater pipelines connecting to Shazhou Island would commence as soon as possible, with completion expected between late August and early September.

Having absorbed the technical personnel and experience from Vault 70, Baiyue Corporation’s underwater construction capabilities had advanced by leaps and bounds.

From the “Crab”-type underwater engineering armor to the “Electric Ray” underwater self-welding unmanned boat, and the modular construction plan for deep-sea environments—both “hardware” and “software” had undergone a transformative upgrade.

Of course, this was largely due to Baiyue Corporation’s solid foundation.

With the two major industrial zones of Dawn City and Boulder City as strong backbones, engineering technologies unearthed by the scientific expedition team from a series of ruins including Vault 100, and most crucially, the backing of a powerful alliance, even the technical staff from Vault 70 alone could not have achieved such astonishing construction speeds.

Apart from Shazhou Island, the four southern islands in the southern sea area and Coral City near the midline had all been connected to the freshwater supply network and power grid of Fries Port.

Although Coral City, due to its high power consumption, had only 20% of its facilities reactivated, this was sufficient for the “Conch” submarine carrier plan.

On the fourth day after the naval battle, a twin-engine “Viper” transport plane landed on the tarmac of Anle Island, and a group of twenty players stepped out of the cabin.

They were highly skilled pilots, not only tested through countless real combat experiences but also awarded the “Ace Pilot” certificate by Brother Mosquito!

Soon, they would head to the Conch to test the alliance’s new “underwater carrier-based aircraft.”

Not far from the tarmac,

Li Minghui, commander of the South Sea Alliance’s Anle Island fleet, gazed enviously at the Viper transport plane and said to Fang Chang, who stood beside him.

“You folks sure have a lot of aircraft models.”

Fang Chang smiled faintly.

“That’s a masterpiece of Boulder Military Industries, born before the alliance existed.”

“It looks much smaller than that ‘Overlord’.”

“Well, before that, the nobles of Boulder City’s inner city focused only on regional affairs and themselves, and the residents there served only the inner city nobles. The Viper transport plane fully covered their short-distance ‘travel needs’.”

Li Minghui raised an eyebrow with interest and looked at Fang Chang.

“And now?”

Fang Chang continued.

“Now, Boulder City has no inner city. It has its own city hall, mayor, and courts. Residents only need to fulfill their obligations as survivors of Boulder City and citizens of the alliance—such as obeying the laws that everyone must follow.”

Li Minghui nodded thoughtfully, then suddenly asked another question.

“What about other settlements? Are they the same?”

Fang Chang smiled faintly.

“Of course not. For example, Singularity City has a clear hierarchy and promotion system, but that’s what the local survivors desire. Our administrator respects their choices, only depriving them of the freedom to trade others according to the alliance constitution. As for other aspects, no significant changes were made, and we even generously granted them an absolutely impartial AI overseer.”

Li Minghui nodded approvingly and said with recognition.

“A decision tailored to local conditions—I think he did the right thing… We should consider the survivors’ own thoughts.”

“I agree. After all, in my view, it would be foolish and absurd to suddenly grant equality to a bunch of people who understand equality as ‘doing whatever they want.’ They’d feel awkward, and we’d be uncomfortable too. In the end, it would only tarnish the word ‘equality’ without any other use. The administrator said from the start that we can’t take everyone to the new world; some are destined to live at their own pace.”

Seeing the flicker in Li Minghui’s eyes, Fang Chang felt a slight stir and said with a smile.

“If the survivors of the South Sea Alliance support you as their president, our administrator would certainly recognize you too.”

Li Minghui was taken aback, then forced a lighthearted laugh.

“Come on, I’ve never thought about that… Even if they all supported me, they’d have to ask my opinion. Don’t forget, I’m also one in a million of the South Sea Alliance. They can’t just push me to the front without my consent—no way!”

Fang Chang gave a noncommittal smile and said nothing, merely turning his gaze to the distant submarine carrier.

“I hope everything goes smoothly. If only this war could end sooner.”

Hearts are hidden behind ribs, and there are plenty of people on the wasteland who do bad things with good intentions. He wasn’t like Ye Shi, a student who hadn’t yet entered society, mulling over every word someone said to judge good or bad.

He didn’t care what this guy said, and he figured the administrator wouldn’t either.

But they would both watch—watch what he did.

Li Minghui also looked toward the submarine carrier, and after a long silence, he let out a faint, insincere sigh.

“Yeah…”

If only it could end sooner.

Though later might be better…

……

*Wasteland OL* forum.

Before the new equipment tests were even finished, half of the ace pilots had already come online.

“This new plane is freaking exhilarating!”

“Gotta say, it really nails stability, accuracy, and ruthlessness. Of course, I’m talking about the cannon, not the plane.”

“Wish we could get insurance.”

“+1.”

The discussion thread quickly piled up dozens of floors, leaving the lurking players itching with curiosity.

Finally, someone couldn’t resist and asked below the thread.

“Any pics or vids from the big shots? No offense, just curious what the plane looks like.”

“Yeah, never seen one—just curious.”

Seeing the question, an insider quickly popped up to answer.

“Didn’t bring a camera up there.”

“Classified.”

“Damn! Classified?! Can’t leak it on the forum or something?”

“What’s the rush? When the landing day comes, they’ll release a PV video, and you’ll see it then. (Rolleyes)”

“+1.”

“@#%&!”

“……”

Irena: “Is it just me, or do I remember there were only 20 pilots? (Rolleyes)”

Ye Shi: “Holy crap, how many cloud pilots are there?”

……

Days passed, and soon it went from early August to the end of the month.

The coalition forces sent by the Condominium to the Haiya Province had, through a step-by-step offensive strategy, pushed the front line from north of Laishan City to its southern suburbs. Although no survivors were found, the decontamination work on the local soil had progressed to 70%.

Furthermore, the purification of the Wasteland of Wei Mansion continued to advance steadily.

Influenced by the order of the Alliance, more and more survivors from the southern part of Jinchuan Province settled near the Wei Mansion military base, and the population of the Wei Mansion settlement officially surpassed the fifty-thousand mark, marching steadily toward one hundred thousand.

The progress on the northern front was astonishing, and the southern front was not to be outdone.

The Alliance's missile launchers and radar had been successfully deployed on Shazhou Island, and the *Conch* submarine mothership had been completed in silence, secretly entering service with the Alliance Navy.

All the pieces were now in place, awaiting only the opportune moment.

According to news released by the *Survivor's Daily*, the Alliance and its allies in the southern seas were planning a decisive battle against the Charas authorities, and the time and space left for the latter were running thin...

Aside from the progress on the front lines, two major events had recently occurred within the Alliance.

The first was the formal signing of a ceasefire agreement between the Alliance and the Western Xia Empire.

The Empire was required to pay the Alliance a total of five hundred million silver coins in reparations, immediately cease the blockade of the Golden Gallon Port, and restore normal shipping and trade along the Eternal River.

However, considering that the Empire lacked sufficient foreign exchange reserves in silver coins, the reparations would be secured by tariffs on foreign trade, collected by an agency commissioned by the Alliance, which would deduct the proportional compensation and pay the remainder to the Empire.

The portion collected on behalf of the Empire mainly covered goods from Golden Gallon Port to the Boro Province, while the tariffs on different goods would be determined through further negotiations and separate agreements between both parties.

In other words, the Emperor of the Empire did not need to withdraw this compensation from the treasury; in fact, he could even collect money from the Alliance. And given that the variety of trade goods at Golden Gallon Port was now far greater than before, they might even end up earning more.

Thus, upon hearing this "improved plan," Duke Garava immediately agreed.

As for the ownership of Golden Gallon Port, the Alliance had no intention of letting the Empire take it back and mismanage it. Duke Garava clearly did not expect to reclaim it through words alone, so he proposed shelving the dispute and maintaining the status quo.

That is, the Alliance would not turn Golden Gallon Port into its seventh or eighth settlement, and the Empire would neither claim nor relinquish its right to claim it in the future.

However, the Alliance had never planned to annex Golden Gallon Port as its own territory, as it neither aligned with the Alliance's interests nor its principles. Thus, Alliance Foreign Minister Cheng Yan agreed.

Once the ceasefire took effect, Golden Gallon Port would formally release all prisoners of war.

In addition, the Empire received compensation totaling 150 million dinars.

But this compensation was not part of the ceasefire agreement; it stemmed from another accord—the pension bill recently passed at the Cohesion Council meeting.

This compensation came primarily from the Cohesion Council, paid out of the military funds jointly contributed by its members, to compensate soldiers who had "fought and died or been disabled for the fate of humanity."

The recipients could decide how to use the compensation based on their circumstances, but they were required to ensure that at least 30% of the funds were spent directly or indirectly on individuals.

One matter at a time—regardless of how low the status and rights of the Ratmen were in Boro Province, they were recognized by the Cohesion Council as "unified natural and social persons," and since they came from provinces less affected by the slime, they were entitled to full compensation.

As for why the compensation was in dinars rather than silver coins, which were most commonly used in currency swap agreements, it was largely due to Duke Garava's strong insistence.

Although Chu Guang found it odd, he thought of the Empire as a friend of the Valiants, so he said nothing more and agreed, following the path of goodwill.

Yet he did not know that Duke Garava had never considered that angle; he was simply afraid that if the Cohesion Council paid in silver coins, the Alliance would directly deduct the money.

If he had known, he would have laughed out loud at such a charming notion.

Furthermore, the vault of the Golden Gallon Port Bank, since most of its contents came from slave trading, would not be returned to the Empire. Instead, it would belong to the local residents of Golden Gallon Port for local construction, managed by the restructured Golden Gallon Port Bank.

Duke Garava, having already consulted His Majesty, had no objections to this, merely proposing a supplementary clause to establish mutual embassies, which Alliance Foreign Minister Cheng Yan gladly accepted.

In short, with the formal signing of the ceasefire agreement, the Alliance's military operations in Golden Gallon Port officially came to an end.

Though Golden Gallon Port still faced issues—such as low labor wages, rampant smuggling, and rising crime due to an influx of immigrants—it was far better than the previous settlement, where one either ate dust or was eaten.

Problems had to be solved one by one, and those arising from development required developmental solutions. The local survivors could not expect the players to solve all their problems, especially since the Alliance's players had already left them with some useful tools and methods.

For instance, the representative council elected from among the citizens, and the courts and police institutions that separated law enforcement from the judiciary.

The second event was the establishment of the Dawn City Stock Exchange and the listing of Baiyue Company.

After over a month of auditing and investigation, the Alliance Bank and Economic Department approved Baiyue Company's listing plan.

The listing was supervised by economics experts from Camp 101, who designed the regulatory and trading system, while the listing advisory institution from Ideal City provided guidance for Baiyue Company.

According to the listing plan approved by Baiyue Company's board of directors, the first batch of issued shares totaled 50 million, with an issue price of 10 silver coins per share, accounting for 8% of the total shares. The company committed to allocating no less than 10% of its annual profits for dividends.

All funds raised would be used to expand Baiyue Company's core business, striving to make the company bigger and stronger.

Based on the issue price, the valuation of the entire Baiyue Company had reached 6.25 billion silver coins!

This figure was even higher than the Alliance's total fiscal expenditure for the previous year!

Yet anyone familiar with Baiyue Company's development knew that this valuation was actually an underestimate.

Considering Baiyue Company's operations in Golden Gallon Port alone, even with a conservative price-to-earnings ratio of 20, it would be worth more than 6 billion silver coins, and an issue price of 40 silver coins would still be conservative.

The relatively low issue price was, to some extent, a way to share the fruits of development with the Alliance's residents.

After all, without the Alliance's workers toiling in factories to create value, the Alliance could not have become an economic miracle on the wasteland, nor could it have used surplus resources to incubate outposts like Fries Port.

The best way to repay these people was to give them money directly.

Of the 50 million shares, 30 million were non-tradable. Some were subscribed by the Alliance's social insurance funds (pensions, unemployment insurance, etc.), while others were bought by public insurance funds (railway insurance, property insurance, etc.). The primary beneficiaries were low- and middle-income residents who contributed the most to social insurance and enjoyed the most public services.

The remaining 20 million shares were issued as tradable shares to the Alliance's middle- and high-income residents.

Those holding an Alliance ID card and providing proof of bank deposits or transaction records within the Alliance could open accounts at the stock exchange, with a maximum individual subscription of 100,000 shares. Buying and selling on the secondary market were unrestricted.

Players could also trade Baiyue Company's shares, but for now, only through the Silver Exchange channel, with no restrictions on trading ratios, just like other ongoing equity transactions. Only large equity transactions were subject to review.

The reason for this approach was twofold: first, the Silver Exchange's trading system was already relatively mature; second, players' mission rewards were already an order of magnitude higher than those of ordinary NPCs, so there was no need for them to compete with NPCs for dividends—they could play among themselves behind closed doors.

Moreover, given the savings of NPCs, it would be difficult for them to take over the shares from players looking to cash out and leave.

But the Silver Exchange had no such problem; there, a host of "mysterious clients" were eagerly waiting, ready to pay with real-world currency at any time.

To accommodate the schedules of most people, the issuance date was deliberately set on a rest day.

Not only that, but banks in all Alliance settlements set up windows for account opening on behalf of the exchange. Yet on that day, the entrance to the Dawn City Exchange was still lined with long queues, nearly paralyzing traffic on the adjacent streets.

Although most Dawn City residents' impression of Baiyue Company was still limited to the seafood market on the northern outskirts of Dawn City, and they knew little about the company's specific operations, the headline of the *Goblin Observer* ignited a fire in everyone's hearts—

"Subscribing to Baiyue Company's shares is supporting the Alliance's overseas expansion!"

Upon seeing this, the crowd became as excited as if injected with adrenaline.

Supporting the Alliance's overseas expansion—wasn't that showing loyalty to the Administrator?

Though the Administrator had never said such a thing, the young lads couldn't help but fill in the blanks themselves.

Of course, the key factor was that they had money in their pockets.

Since Boulder City joined the Alliance, the Alliance had absorbed not only Boulder City's technology but also its *Awakener Bohr* and the Workers' Association.

Merchants had their own guild, and workers had their own organizations. Under the balance of these two forces, the median hourly wage in most factories had risen from 5 silver coins before Boulder City joined the Alliance to the current 8.

With an issue price of 10 silver coins, even a dishwasher in a tavern could buy 100 shares, as long as they weren't a drunkard spending all their income on alcohol.

Most of those opening accounts hadn't even thought about making money from this; they simply harbored the naive desire to contribute their strength to the Administrator.

A thousand silver coins could buy five assault rifles.

If Boulder City had increased their hourly wage by 60%, donating five guns to help the Alliance liberate a few more "Boulder Cities" would be worth it, even if they lost all that thousand silver coins!

"Are these people insane?!"

Staring at the sea of people at the stock exchange, Niyang, who had slipped out from Embassy Street to watch the commotion, widened his eyes in astonishment, his expression as if he had seen a sea monster in the Boro Sea.

A security guard maintaining order glanced at him, noting that his face didn't look local, and politely said,

"Excuse me, sir. Equity trading requires an original Alliance ID card... May I see it?"

Previously, many wastelanders had tried to cut into the queue, only to throw tantrums or even act tough when they couldn't complete the process, causing quite a stir. Thus, his superior had instructed him to politely ask those without subscription qualifications to leave the line, so as not to waste everyone's time.

He wasn't so much suspicious that the guy had forgotten his ID as that he didn't have one at all.

Yet to his surprise, the man first furtively glanced left and right, as if confirming something, then puffed out his chest, pulled an ID card from his pocket with an air of nonchalance, and handed it over, saying politely.

"Of course, here's my ID, a genuine one, no doubt about it... ahem, I mean it's absolutely not fake. Would you like to verify my number in the system, sir?"

The security guard was taken aback, partly because of the man's unexpected compliance, and partly because he actually had one.

Ever since the founding of the Conclave, the threshold for obtaining an ID had been raised from three months to a year, requiring tax records, proof of employment, and a host of other complicated procedures. Otherwise, even those entering through the Refugee Home could only get residency as "supervised persons."

Were these refugees from the Battle of Sunset?

Giving him a strange look, the guard nodded and returned the ID.

"No need, just let me see it. The staff later will verify its authenticity. Also... thanks for your cooperation. Have a nice day."

"Have a nice day too."

Niyang bowed courteously, even more politely than he had to Duke Garava, a sunny smile on his face.

From his very first day in Dawn City, he had looked into how to get an Alliance ID, and back then the bar wasn't so high—just being in Dawn City and working a job with at least 120 hours a month.

He found a tavern run by a wastelander, paid the owner a sum, and easily solved the problem.

Duke Garava might have a bad temper, but if you buttered him up well, he could be generous.

Of course, there were plenty of smart people in the Alliance, especially with the Moon Tribe girls from Fries Harbor helping them out; the loophole of "paying for work" had been closed, and the ID requirements had been tightened.

But the law doesn't apply retroactively, so his already obtained "Dawn City Resident Status" was unaffected.

Back then, he had gotten the ID purely out of admiration for that esteemed figure, never imagining it would bring him such a big benefit.

Sure, the Baiyue Corporation had beaten up his emperor, but so what?

He loathed the thousand pillars of the Thousand Pillar City, and wished the Baiyue Corporation would go further and smash them all to pieces.

Even if only the Rat Tribe's pillar were destroyed!

The residents of Dawn City thought losing money was no big deal—well, he felt the same, even more radical. Too few rats had died on Ten Peaks Mountain!

Of course.

Having read every issue of the Survivor's Daily carefully, he knew this was actually a benefit the Administrator had handed out to everyone. Losing money was almost impossible; it was more like free money.

The line moved slowly.

After waiting for two full hours, Niyang finally saw the door of the Stock Exchange, and his heart pounded with excitement as the line inched forward.

Though he had been checked three times by three different guards in those two hours, his mood wasn't dampened, nor did he feel discriminated against.

Compared to the humiliations he had suffered in White Elephant City and under Duke Garava, this slight offense was nothing.

They should check even more strictly, to keep other rats from sneaking in and defiling the cream he had barely tasted with their filthy claws.

The line finally reached the end.

The air conditioning in the hall cooled some of the heat in his heart. Guided by a staff member, he quickly got his number and the forms to fill out, and after hearing his number called, he rushed to the counter.

The clerk handling his paperwork was a beautiful Alliance girl, her face as delicate as a pebble on the beach, her eyes sparkling and shimmering like water.

Compared to her, Duke Garava's wife and mistresses were like cows in a shed!

He admitted his eyes might have a filter, and Alliance cosmetics could work wonders, but he swore he wasn't lying.

In the Alliance, even ordinary people shone so brightly!

Uncomfortable under his intense gaze, the clerk coughed lightly and said in a businesslike tone.

"Please show your ID."

"Niyang, Alliance citizen."

Niyang quickly produced his well-worn ID and flashed her an eager smile.

She faced at least a thousand such smiles a day, but she still returned a professional one, confirmed the ID, and took the completed form from him.

This almost fanatical eagerness—probably a wastelander who had just joined the Alliance.

She thought, looking at the form, but when she saw the numbers filled in, surprise flickered in her eyes, and her glossed lips parted involuntarily.

"...Ninety thousand shares?!"

That was almost the individual purchase limit!

How did this guy make so much money?

Not that she was snobbish—she treated all clients equally—but the contrast with this client was stark, like a beggar pulling out a wad of cash.

It was hard not to wonder where his money came from.

Noticing the surprise in the beauty's eyes, Niyang smiled modestly, but couldn't hide the pride in his gaze.

"My business made a bit of money, all legal and above board. Check however you like... but after the investigation, please give me this chance. I'm an Alliance citizen too, and I want to invest this money in a greater cause."

The clerk composed herself and looked at him steadily.

"It's my duty to tell you upfront: the Baiyue Corporation doesn't run any great cause. It's a profit-driven institution, fundamentally different from relief organizations like the Refugee Home."

"You need to understand clearly that this is an investment. It's neither a donation nor gambling. All investments carry risks. You must take responsibility for your choices and swear you know exactly what you're doing."

"Need me to raise my hand and swear?" Niyang laughed, raising his right hand above his head.

"Neither," the clerk said, pulling two contracts from a drawer. "You need to read this Share Subscription Agreement and Risk Disclosure carefully, then sign at the end."

Taking the contracts and pen, Niyang signed both without even looking, then placed the pen gently on the desk.

"I know this isn't some great cause, and I know the esteemed Administrator doesn't need my paltry money. But I still hope they'll move faster, faster still... Please understand a rat's humble wish. My strength is too small, so small that my master doesn't even consider me, thinking I'm too weak to betray him... And I truly am not, nor do I have the right. My business can't survive without his support."

Seeing the clerk's bewildered look, Niyang gave a slight imperial court bow.

"Have a nice day, beautiful lady. In the Brahmin Province, girls your age are just goods... and of course, I, as livestock, am the same."

Watching the man finish all the procedures and walk out the door, the girl behind the counter blinked in confusion, then leaned toward an older colleague and whispered.

That colleague was her senior at work, someone she trusted.

"Is the Brahmin Province really that extreme?"

As she spoke, her hands didn't stop; she tapped the tablet and called the next number.

The colleague shook his head and quipped noncommittally, then turned to the next task.

"Who knows how much truth there is in what wastelanders say? Maybe he was just trying to hit on you. Look, he's from Fries Harbor—I hear people there dream of dating someone from Dawn City... Speaking of which, Fries Harbor is far enough."

As for the Brahmin Province, it was even more distant, so far he had no interest in learning about it, except for having tried its specialty dishes at some restaurant out of curiosity.

But those "mushy foods" were just so-so; he couldn't tell the difference between them, and they couldn't compare to the Alliance's vast array of delicacies.

Maybe the Baiyue Corporation had really changed people's lives there, teaching them to eat with utensils and at tables, so much so that they now yearned for more.

But that was their business. He was just a small clerk in Dawn City, and he didn't care about such things.

What he cared about more was the esteemed Administrator and the Alliance's interests—at least that way he could justify his hourly wage of 8 silver coins.

Praise the Administrator!

He was forever loyal to that noble man, who could have kept all the money for himself, leaving these queuing folks to just stare in envy.

He heard that survivors in Golden Karon earned only a tenth of his hourly wage, and even less before that.

I am truly curious how they managed to survive.