At that moment, Ding Zhitong and Gan Yang felt an unshakable certainty, unrelated to money or the world around them.
As April arrived, the domestic epidemic was largely under control, with various regions gradually resuming work and production. However, in the United States, the number of confirmed cases continued to break records, with New York becoming the epicenter.
One day, Gan Yang suddenly asked, “Tongtong, do you think we can ever go back?”
Ding Zhitong looked at him, unsure what he was thinking, surprised by such a poetic question.
Gan Yang showed her his phone, playing a drone footage video. The scene showed white-suited prisoners digging a massive trench hundreds of meters long on Hart Island in New York, burying wooden coffins unloaded from trucks. These were reportedly unclaimed bodies, as hospital morgues were overflowing.
After the initial shock, she understood the source of his melancholy. He had secretly registered them for the New York Marathon in November, including three nights’ accommodation and race entry. The money was already paid, but given the current situation, it seemed unlikely to happen.
Unlike 2007 and 2008, marathon running has grown increasingly popular in recent years. Many people were keen on collecting medals from all six World Marathon Majors, dubbed the “Grand Slam.” This led to the creation of “direct entry package” services.
Gan Yang had registered through a third-party running platform. The app listed a row of direct entry products, with the “2020 New York Marathon” advertisement being particularly exciting:
“One of the founding members of the World Marathon Majors and the world’s most popular and inclusive marathon event – the New York Marathon will celebrate its 50th anniversary in 2020!
The Berlin Marathon’s 50th anniversary won’t be until 2023, Chicago’s until 2026, London’s until 2030, and Tokyo’s until 2056! Imagine how old you’ll be then?
And you’ve missed the Boston Marathon’s 50th anniversary, as that was 73 years ago, haha!
So the New York Marathon’s 50th anniversary might be your best chance! Don’t miss this opportunity; it won’t come again! Once missed, it can’t be possessed!”
After reading this, Ding Zhitong said, “Didn’t you know? Last year, people complained about unsuccessful registrations and no refunds. Their cash flow was probably already problematic then.”
Surprisingly, Gan Yang replied, “Did you know? I once considered investing in their pre-A round, but after talking with them, I felt they were too aggressive. That attitude wasn’t right for building a running community, so I gave up.”
Ding Zhitong, out of professional habit, did some quick research and found this to be true.
This running community platform was established in 2014, with an angel round in 2015, pre-A in 2016, Series A in 2017, and Series B in 2018, maintaining a yearly fundraising pace. Likely to meet performance targets in investment agreements, they also launched conventional “shopping mall” and “wallet” features. The company expanded rapidly, but its core services – race information, organization, and registration – suffered.
A few days later, Gan Yang received an open letter from the platform. Due to the pandemic’s impact, the company temporarily couldn’t refund race entry fees in cash. Instead, they could only refund wallet balances for platform consumption, with no set date for cash withdrawals.
During this period, many running events were indeed postponed or canceled. However, except for the Tokyo Marathon’s unprofessional handling – holding the elite race while canceling mass participation and refusing refunds – most event organizers were more reputable, immediately announcing refund timelines and methods after official cancellations.
The platform’s inability to refund wasn’t solely due to the epidemic; it merely accelerated the exposure of pre-existing issues. Rumors in running circles suggested they were preparing for bankruptcy, urging people to file lawsuits to protect their rights.
Ding Zhitong teased Gan Yang, “See? Another victim of capital. Now you, a capitalist, can’t get your money back. Karma spares no one, huh?”
Gan Yang ignored her, secretly hoping the New York Marathon would proceed as scheduled.
Despite the U.S. case numbers hitting new highs daily, and Yan Aihua’s blunt professional opinion as a tourism worker – “If the New York International Auto Show is postponed to next year, it’d be a miracle if the marathon happens” – Gan Yang held onto hope.
Indeed, marathons can’t compare to auto shows in terms of money. Everything in the world revolves around money.
After saying this, Yan checked her ex-husband’s friend’s social media in Long Island, seeing posts of sunny skies, blue heavens, and blooming spring flowers. Meanwhile, the Queens restaurant owner posted about panic buying of flour, canned goods, and toilet paper in supermarkets, and many people on the streets without masks. It seemed everyone could only see what they wanted to see, creating a strange sense of division in the world.
Ding Zhitong let Gan Yang dream on, finding his professional and private personas so different that it was almost endearing.
But she understood why he wanted to go to New York so badly.
She couldn’t forget the day they left Ithaca after graduation – the mortarboards tossed into the sunlit air, the small town’s nighttime revelry, the early summer moonlight, the visible Milky Way, the fragrant meadows, and the mist over Cayuga Lake.
She remembered holding his hand, wistfully sighing, “This is the last time…”
And Gan Yang had smiled, saying, “How could it be? We can come back in the future.”
Life is unpredictable. This promise of “coming back” and their 2008 New York Marathon pact remained unfulfilled, with no clear date in sight.
Twelve years later, in late spring Shanghai.
This time, she approached him, saying, “Hey, the Shanghai Marathon has been upgraded to Platinum Label.”
“Huh? Oh.” Gan Yang, replying to emails on his computer, glanced up at her, not understanding her point.
Until she asked, “Are there any sponsor slots left?”
Then he smiled.
“Ah Gan,” she began, “do you want to go running with me?”
He nodded, set aside his computer, and embraced her.
By then, over a hundred domestic marathons and trail races had announced cancellations or postponements. Even the Shanghai Marathon in November wasn’t guaranteed to proceed as planned. Like the ongoing acquisition and the fractured world, no one could predict the outcome.
But at that moment, Ding Zhitong and Gan Yang felt an unshakable certainty, unrelated to money or the world around them.
The acquisition was progressing according to plan. First, M Bank facilitated the formation of a buyer consortium, then an offer letter was sent to the target company. The acquisition price was set at HK$3.3 per share, a 10% premium over the current market price of HK$2.98. A similar transaction in the Hong Kong stock market over a year ago had offered a 30% premium but ultimately failed. They knew they were taking a risk, but it was also a once-in-a-lifetime opportunity.
In May, the target company approved the acquisition agreement and made the announcement. As with most acquisitions, the stock price rose in response.
Ding Zhitong closely monitored the numerical changes and the acceptance rate among minority shareholders, as if watching a subtle psychological game unfold.
Shareholders could choose to sell their stocks on the secondary market at the same price, but if the volume was too large and there were no buyers, the average transaction price would fall below HK$3.3, and the market price could drop at any time.
Alternatively, they could accept the offer and sell all their stocks to the acquiring party at HK$3.3, after which market price fluctuations would no longer affect them.
Everything depended on how one viewed the future.
During this period, although the domestic epidemic had been somewhat controlled, upstream resource countries and downstream consumer countries were mired in difficulties. The manufacturing powerhouse caught in the middle seemed unlikely to escape unscathed. The “stay-at-home economy” concept was widely favored, while physical stores, though open, remained largely empty.
The offer period was extended from late May to mid-June. Good news came from Vietnam, with flights to and from China resuming. LT’s factories had mostly resumed operations, though the entire supply chain hadn’t fully recovered. Some raw materials required higher prices, and anti-epidemic costs had to be factored in, but things were visibly improving.
On the other side of the Pacific, the New York Marathon organizers officially announced the cancellation of this year’s race.
More surprisingly, Ding Zhitong spotted a familiar name in the news – XP Energy. Due to the oil price crash and inability to repay debts, the once-arrogant company from her first deal had officially filed for bankruptcy.