Chinese Net users were surprised during the May Day holidays when pictures circulated seemingly showing a middle-aged woman using a bag of more than 1 million yuan ($161,200) in cash to open a stock market account, Beijing-based newspaper The Mirror reported on Saturday.

The pictures were uploaded by Beijing netizen dulidebazhuayu on Thursday, the last market day before the holiday. The woman (whom netizens named "million-dollar dama," after the middle-aged women, or dama, who invested heavily in gold in 2013), was counting a large amount of cash in a Beijing security company, according to the pictures.

Another netizen who claimed to be a neighbor of the woman said that she invested all of her savings, plus a few hundred thousand yuan borrowed from relatives, in an effort to earn enough money to buy a house for her son. The user claimed she was inspired by the recent boom in the Chinese stock market.

Many Net users urged caution before jumping into the market, while others questioned the credibility of the picture, saying that security companies don't usually accept cash when opening accounts. 

The Mirror