在早已实现股票交易无纸化的今天，有多少深圳人还记得“深发展”和“深万科”等大家耳熟能详的深市“老五股”？早期纸质版本的股票又长什么模样呢？

In today’s stock market where trading has become paperless, how many Shenzheners still remember the familiar names of the “Old Five Stocks” of the Shenzhen Stock Exchange, including Shenzhen Development and Shenzhen Vanke? What did those paper stocks in early times look like?

走进深圳市档案馆举办的《先行之路——深圳经济特区档案文献展》，我们可以看到展出的深市“老五股”实体股票。这5只股票是由中国收藏家协会股证专业委员会会员陆剑洪捐赠的。

The physical stocks of the “Old Five Stocks” of Shenzhen Stock Exchange are on display at the “The Road of Pioneers – An Exhibition of Archives and Documents of Shenzhen Special Economic Zone” in the Shenzhen Municipal Archive Building. The five paper stocks were donated by Lu Jianhong, a member of the share certificate committee of the China Association of Collectors.

1990年深圳证券交易所成立前发行并进行柜台交易的5只股票被称为深市“老五股”。按照发行股票的先后，它们分别是“深发展”“深万科”“深金田”“深安达”和“深原野”。当年这5只个股的总市值在今天看来虽不算多，但它们却以燎原之势席卷了整个深圳证券市场。作为股市中的“老兵”，深市“老五股”让很多第一代股民赚到了“第一桶金”，承载着股民太多的情感，也记载了资本市场的一段重要历史。

The “Old Five Stocks” refer to the five stocks that were issued before the establishment of the Shenzhen Stock Exchange in 1990 and were traded over the counter. They were, according to the order of their issuances, Shenzhen Development, Shenzhen Vanke, Shenzhen Jintian, Shenzhen Anda and Shenzhen Yuanye. Although the total market capitalization of the five stocks back then may not seem much when compared to today, they had swept through the entire Shenzhen stock market. And many first-generation stock investors made their first buckets of gold by investing in these five stocks. Many stock investors became emotional when hearing the names of the “Old Five Stocks,” which also are on record as an important part of the capital market’s history.

首先要介绍的是有着“深市第一股”之称的“深发展”，编号为000001号。1987年，深圳发展银行成立后，在全国率先以自由认购的方式公开发行普通股股票。发行之初，由于储户对股票的认识不全面，把认股证丢得满地都是；但发行4个月后，“深发展”股值涨幅达到290%，买到原始股的市民短短几个月就赚到了大半年的工资，一度引起了股民的疯狂购买。

First, we’d like to introduce you Shenzhen Development, the stock of the former Shenzhen Development Bank and coded as 000001. Dubbed the “first stock in Shenzhen Stock Exchange,” Shenzhen Development Bank was the first bank in China to issue ordinary shares in a public offering after its establishment in 1987. In the beginning, warrants were often seen thrown away by depositors who had purchased the stock as they weren’t necessarily knowledgeable of shares. The stock price of Shenzhen Development rose by 290% in the four months after its issuance, earning investors of the stock a handsome sum in a few months that was equivalent to their salary of nearly a whole year. It caused a buying frenzy among stock investors.

深圳发展银行股票

A paper stock of Shenzhen Development Bank.

“深万科”是在深圳证券交易所上市的第二只股票，发行于1991年1月29日。它是“老五股”中唯一一只未经股权转换的股票，在造就“股神”神话的同时，也因证券市场而获得了更大的发展，至今仍是房地产行业上市公司巨头之一。

Shenzhen Vanke, the stock of real estate developer Vanke, was the second stock that was traded at the Shenzhen Stock Exchange, issued on Jan. 29, 1991. It is the only one among the “Old Five Stocks” that hasn’t had an equity swap, which created its myth of being the “God of Stocks.” The company underwent fast development after going public and has grown to be one of the real estate giants.

深圳万科企业股份有限公司股票

The stock of Shenzhen Vanke.

“深金田”的前身是一家纺织代销公司，成立于1984年6月，并于1989年2月首次在深圳公开发行股票，它曾经叱咤证券市场，有过年利润超亿元的业绩。

Formerly a textile distributor, Shenzhen Jintian was founded in June 1984 and made its public offering of shares in Shenzhen in February 1989. It was once one of the mostly traded stocks with a record of making annual profits in excess of 100 million yuan.

深圳金田实业股份有限公司股票

The stock of Shenzhen Jintian Industry Co. Ltd.

“深安达”原是深圳市蛇口工业区内唯一的专业陆上货运公司，1989年“深安达”股票一经发行，就出现汹涌抢购的局面，短期内500万“深安达”股票全部售罄。1990年4月至6月，“深安达”股价上涨了433%。

Shenzhen Anda was formerly the only professional land freight company in the Shekou Industrial Zone of Shenzhen. When the company started offering its shares in 1989, it had caused purchase frenzy, with 5 million shares being sold out in a short period of time. Its stock prices rose by 433% from April to June 1990.

蛇口安达运轮股份有限公司股票

The stock of Shekou Anda Transportation Co. Ltd.

抢购最疯狂的是“深原野”个股，1990年2月，“深原野”以第一家中外合资上市公司的身份在深交所上市。上市后，“深原野”创造了数十倍的升幅纪录，被深港两地媒体封为“深圳股王”。

Among the Old Five Stocks, the shares of Shenzhen Champaign Industrial Co. Ltd. were the most bought among investors. The first Sino-foreign joint venture listed in Shenzhen, the company went public at the Shenzhen Stock Exchange in February 1990. The company saw its share price had hiked more than 10 times its IPO price, and was named the “Shenzhen stock king” by the media in Shenzhen and Hong Kong.

深圳原野实业股份有限公司股票

The share certificate of Shenzhen Champaign Industrial Co. Ltd.

1994年，深圳股票发行和交易实行无纸化，纸质股票退出了证券市场，成了收藏者眼中的“断代文物”，开始进入收藏领域。“老五股”纸质股票而今也是身价不菲、一票难求。

Paper shares were withdrawn from the securities market in 1994 when the issuance and trading of stocks went paperless. The old paper shares became a relic to many collectors, who started collecting them. The paper shares of the Old Five Stocks are priced at a premium yet highly sought after.

今日互动：相信深圳人对深市“老五股”都不陌生，它们是深圳早期资本市场的见证。在您心里，有哪些与炒股有关的记忆吗？欢迎大家踊跃留言，小i将在留言中选取幸运儿送出小礼物。 

Today’s topic: Do you have any memories about stocks? Feel free to leave your comments and three lucky people will receive gifts.

来源：深圳市档案馆、i深圳

Source: Shenzhen Archives, iShenzhen

编译：深圳政府在线、Shenzhen Daily、GDToday

Transedited by: Shenzhen Government Online, Shenzhen Daily, GDToday