Ye Tan: Spin Off To Encourage "Monster Stocks" And Speculators

The listed company with the concept of spin off has become the darling of the securities market. This is another foam stirring rod handed to the stock market by the relevant departments.

The author was convinced that when the Shanghai and Shenzhen index moved back and forth, the concept of stocks split.

Since the listing of listed companies that meet the six conditions can be listed on the gem, relevant stocks have been sought after.

21, Datang Power Generation (601991) opened trading, the 20 day limit of purple shares (000938) Gao Gao Gao.

Previously, as Fang shares (600100), purple light shares, Liaoning Cheng Da (600739), Haihong Holdings (000503), etc., all of the recent surge in the market.

Perhaps the management wants to bring money into the real economy and help China's high tech (600730) technology enterprise development, but as a result, the market is eager to rush ahead and the speculators are making great profits, and the enterprises who are committed to high-tech investment and R & D become the mud at the feet of speculators.

I have seen more than one time that researchers and investors have worked hard to build up their own business, but they have not been able to get support. Similar to Haihong holdings, such a heterogeneous group has a great reputation.

Taking Haihong holdings as an example, it has been called "the first share of the network", but the most profound memory of investors is the "monster stock" and "Jianghu first Zhuang stock".

In terms of manufacturing concepts, we never lag behind, from online games to e-commerce to the concept of splitting, so we never miss any wave of market.

In September 2005, there was media exposure that "Zhou Qi was sitting in the rainbow: 7 hundred million went in, 2 billion came out".

Can such a company bring us the future of China's high-tech development?

Following the concept of "evil stocks", China's high technology will only go to hell.

Perhaps many people will say that Haihong holding is only a special case, so that a boat owner will overturn a boat owner.

In fact, many of the split stocks have already bought shell many times, and there are several listed companies, while Liaoning Cheng Da and so on are also hyped up stocks.

The growth enterprise market should be the value aggregation of China's growing enterprises. The split of the high-tech business under the big cap market can neither bring about changes in concept nor change the entangled related pactions between the parent company and its subsidiaries.

Moreover, the refinancing of these listed companies has received preferential treatment. There is no cash flow problem in large listed companies.

The listing of these listed companies will inhibit the growth of non-governmental high-tech enterprises, and the scales will once again favor large enterprises, making gem more close to the main board market of administrative atmosphere.

The ten thousand step is to say that for the sake of fair market, the relevant departments have never prohibited excessive listing, and there is no need for the regulators to propose separately.

On the surface, it is an impartial proposal. In fact, in the context of China's securities market, deliberately moving the motion means that the scales have been inclined to large enterprises, and the market has made an exaggerated response, echoing the motion of regulators.

What kind of gem do we need, which is a "pmutation market" that is attached to the main board market?

Or is it a market with independent character, beneficial to China's high-tech enterprises and market oriented enterprises?

The conclusion of the author is the consequence and therefore resolutely oppose large-scale listing.

It is of course beneficial to spin off the stock market. It can consolidate the monopoly position of large enterprises, make the scale of large and large listed companies, make asset prices unattainable, and no one can take away the controlling stake.

The downside is to place hope on the current large enterprises. It is impossible to achieve the illusion of future technology in the current system.

China's IT and outsourced businesses have been nurtured by private small businesses at the very beginning. Nowadays, innovation and technology in coastal manufacturing enterprises have seen the dawn of China's market oriented high technology.

Indeed, there is a precedent for the failure of high-tech enterprises.

For example, the software is used as a cover for the software of the Topp software, which leads to a frenzied trap, which finally causes the company's capital chain to break.

The GEM listed company, Le Pu medical (300003), has bought the car with a lot of money raised by investors, and has been criticized by investors. However, this does not mean that there are problems in the market mechanism of these companies. It needs to be guided by the listed companies. However, the initial scale of China's gem is too small and the scale of funds is too large. China's SMEs are full of insecurity, because the insider trading of these enterprises has not been corrected in time.

One mistake can't correct another mistake. What we get is the wrong superposition.

At present, China is a good opportunity for the development of growing enterprises. The market recognised the future path of hi-tech development, and funds will seek new investment channels after they withdraw from the real estate market.

Good decisions will make China's manufacturing industry go up to the top by virtue of high technology, and bad decisions will make a rare opportunity to degenerate into a speculating short meal.

Recently, she has been very happy to talk to her, but she said that all GEM companies should not be prejudiced against their own origin, but should see whether it is conducive to the development of China's future securities market and whether it is conducive to the development of high-tech enterprises in China.

The author supports this view, and because of this support, it resolutely opposes the spin off and hopes that Chinese high-tech enterprises with independent character can stand out.

Many investors and entrepreneurs are changing their business ethics with the nirvana mentality. The incentive mechanism of the decision-making level should obviously help this process, rather than make the speculators gain the benefit by wrong incentives.