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Cao Zhongming: What Kind Of Delisting Standard Is Needed For Gem?

2011/8/2 10:08:00 40

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Recently, Song Liping, general manager of Shenzhen Stock Exchange, disclosed for the first time.

Gem

The principles and framework of the delisting system.

From the perspective of its formulation, the principle and framework of the delisting system of "gem directly delisting, rapid delisting and backdoor speculation" is just a constant replay.

"In the past 3 years, the stock market has been publicly condemned for 3 times, or the daily closing price of the company's 20 consecutive trading days is lower than the face value of each share, and the shares of the companies concerned will be terminated". These two new standards are somewhat new.

Nevertheless, gem

Delisting

Standards still need further improvement.

In fact, strictly speaking, in the institutional framework of the gem "3+2", the delisting standard of "closing price for 20 consecutive trading days is lower than the face value of each share" has no real meaning.

The trend of speculation in A shares is prevalent. In the past 20 years, the stock price below the face value is very rare, let alone 20 consecutive trading days.

To build the gem into an efficient and healthy market and become China's Nasdaq, there is no efficient and strict delisting mechanism.

The insider trading of the Shanghai and Shenzhen board and the small and medium-sized board in Shenzhen stock market has been rampant, and the phenomenon of manipulating stock prices has occurred frequently. Moreover, some companies that have been losing money on the market for years have still been able to live in the market. The story of "crows changing Phoenix" has even been staged by the stars wearing the hat, which is closely related to the A shares retreat system in essence.

Because of this, the mismatch of resources and bad money drives out good money.

Only by setting up the stage can we begin to sing the opera.

The operation of any market is inseparable from the escort of the system construction. If the main board of Shanghai and Shenzhen is the same, the small and medium-sized boards in Shenzhen and Shenzhen will be the same.

In fact, it is precisely because the gem delisting system has not been introduced, resulting in gem speculation than the motherboard and small plates more violent.

What kind of delisting standards should be adopted in the gem?

I believe that in addition to the relevant provisions of the GEM Listing Rules and the addition of two new standards, packaging, whitewashing, counterfeiting, financial fraud and fraud listing should also become one of the criteria for delisting.

Why are there frequent companies with quick performance in the market?

Why do some companies hide important things for listing?

All because of

list

After that, the "unspoken rules" of the difficulty of delisting is obviously the lesson that the gem should learn most.