Episode 20 recap: Qiang Mujie and A Bao engage in a hidden struggle.

Wang Mingzhu and A Bao compete for Walmart's orders. Ye Shu advises A Bao not to confront Wang Mingzhu directly and suggests approaching the situation from downstream. Wang Mingzhu and A Bao openly compete, refusing to back down. Wang Mingzhu and Wei Hongqing establish their company in the Bin Peng Business Building in Hongkou District, where the environment is poor and a mix of people from all walks of life gather. Due to limited funds, Wang Mingzhu and Wei Hongqing have no choice but to temporarily settle there.

Ye Shu has had a conflict with his niece, Jin Hua. However, in order to secure the order for the Walmart jeans, he personally approaches Jin Hua to negotiate the business. Ye Shu waits for an afternoon, but Jin Hua only talks to him for less than five minutes, adopting a strictly business-like attitude and asking him to participate in the bidding process. Disappointed, Ye Shu leaves and coincidentally encounters Wang Mingzhu at the Foreign Trade Building. Ye Shu learns that Wang Mingzhu has been affiliated with the General Foreign Trade Company and has also set her sights on the same order.

Ye Shu reminds A Bao not to confront Wang Mingzhu directly and suggests finding a breakthrough from downstream. Little Ning Bo has formed an alliance with several clothing factories to compete with Wang Mingzhu based on low costs. Wei Hongqing, using his father's reputation, seeks help from fur company owners in Haining. They advise Wei Hongqing to return to Haining for development and not to get involved in the troubles in Shanghai.

Wang Mingzhu hurriedly looks for Wei Hongqing and encounters A Bao downstairs. Wei Hongqing, in a bad mood, quickly gets drunk and runs out, vomiting uncontrollably. A Bao wants to take Wei Hongqing home, but Wang Mingzhu politely declines. She openly competes with A Bao for the Walmart jeans order, with neither of them willing to give in. You Piao Li comes to find A Bao and encounters two lawyers brought by Qiang Mujie from Hong Kong in the elevator. You Piao Li recognizes them from Zhi Zhen Garden and secretly takes the trash they threw away. You Piao Li, Commander Cai, and Fat Aunt piece together the fragments of the garbage, including a legal opinion and a letter to all shareholders, along with the numbers 6.5.2. A Bao suspects that Qiang Mujie deliberately did this to provoke him, hoping to lure him in. A Bao decides to personally go find Li Li to gather more information.

A Bao treats Li Li to hot pot, and Li Li finally gets this opportunity. She brings up Buffett's saying, implying that Qiang Mujie intends to acquire the company. A Bao is surprised because he had thought Qiang Mujie came to Shanghai to cause trouble and make some quick profits, seizing an opportunity. He didn't expect Qiang Mujie to target a listed company.

A Bao suggests buying stocks from the "Three Nos" sector. At that time, there were four such stocks, but A Bao eliminates Deep China and Shenbei Electric because they don't have the numbers 6 or 5. This leaves only stocks 601 and 603. A Bao seeks insider information from Li Li, who asks for an additional 300,000 yuan in exchange for the intelligence.

Commander Cai planted an undercover agent, Xiao Ai, by Qiang Mujie's side, but Qiang Mujie discovered it, and Xiao Ai was fired from the hotel. Commander Cai soon realized that Qiang Mujie had also placed informants around them and instructed them to report on A Bao's every move. On March 3, 1991, Qiang Mujie reserved a private room at Zhi Zhen Garden, and A Bao called Li Li to arrange a meeting after her Olympic bid ended.

Qiang Mujie and Li Li had known each other for five years, and he had always considered her a friend. He reminded Li Li not to betray their relationship for the sake of emotions. Li Li became extremely angry and comped all of Qiang Mujie's expenses at Zhi Zhen Garden, telling him not to come back again. As he left, Qiang Mujie recommended stock 601 as a token of gratitude.

Li Li met A Bao at the hot pot restaurant and returned the deposit of 300,000 yuan. A Bao proposed a partnership where he would provide the stock funds, and Li Li would provide the information. He promised to give Li Li a 15% commission, but Li Li negotiated it up to 18%. They agreed to meet the next evening at the same place for the final decision.

Qiang Mujie went to Ye Dongjing to find Ling Zi. The two reunited after a long separation, and their excitement was evident. They had met in Tokyo, where they quickly became close friends who could talk about anything. At that time, Qiang Mujie was an intern studying abroad in Japan, and Ling Zi had invited him to attend the opening of her business. Qiang Mujie readily agreed.

A Bao waited for a long time at the hot pot restaurant, but Li Li never showed up. Disappointed, A Bao had no choice but to leave. After careful consideration, Li Li ultimately stood him up. Instead, she instructed Min Min to purchase 50,000 shares of stock 601 every day and called A Bao to recommend the stock to him. A Bao suspected that Qiang Mujie was up to something and decided to buy stock 603 instead.