Central Enterprises To Increase Holdings Of Small And Medium-Sized Companies To Reduce &Nbsp; Industrial Capital Fight 2400 Points

Recently, the A share market is sluggish, and many major shareholders have increased their holdings.

By the end of 2008, when the Shanghai composite index was hovering between 1600-2000 points, there was also a wave of surge in major shareholders.

It is worth noting that in 2008, when the market was low, there was only one way to increase the tide of holdings. However, at the relatively low level this year, the tide of holdings and the tide of reduction occurred at the same time.

Analysts pointed out that the increase in the number of large shareholders shows that industrial capital is recognized by their company's current stock investment value, and it does not exclude policies to guide the market. However, the reduction of stock index is mainly due to the overvaluation of small and medium sized boards and the growth enterprise market.

Central enterprises

China Securities Journal reporter statistics found that in August 1, 2011 -9 29, a total of 87 listed companies were holdings of major shareholders, the total amount of increase of 4 billion 240 million yuan.

In 2008, 10, 1, -12, 31, a total of 170 listed companies were held by major shareholders. The total amount of holdings was 2 billion 430 million yuan.

Judging from the trend, although the number of holdings this year is less than that of 2008,

This year's increase has a major feature: the number of state-owned shareholders represented by central enterprises is increasing.

The reporter inquired about the October 2008 -12 major shareholder holdings, and found that only a few central enterprises such as Anshan Iron and Steel Group (5.18,0.00,0.00%) (000898) and Minmetals development (23.42,0.00,0.00%) (600058) gained large shareholder holdings. However, since August this year, major shareholders of central enterprises such as Changjiang Electric Power (6.27,0.00,0.00%) (600900), Baosteel (5.08,0.00,0.00%) (600019), China Construction (3.39,0.00,0.00%) (601668), China coal energy (9.07,0.00,0.00%) (601898), State Grid Power (6.02,0.00,0.00%) (600886), China South car (4.54,0.00,0.00%) (601766), China North Vehicle (4.57,0.00,0.00%) (601299), China Metallurgical (3.04,0.00,0.00%) (601618) and other central enterprises have been frequently released.

Recently, Baosteel Group's major shareholder Baosteel Group's single increase is quite attractive.

In September 27th, Baosteel Group's major shareholder Baosteel Group bought 20 million shares of the company through the Shanghai stock exchange trading system, accounting for about 0.11% of the total shares issued by the company.

The average paction price is 5.09 yuan / share. According to this calculation, Baosteel Group's holdings will cost about 100 million yuan.

In fact, since the beginning of this year, the executives of Baoshan Iron and steel company have increased the stock of the company 16 times successively, and the paction price is about 6 yuan.

The Yangtze River Power major shareholder, the Yangtze River Three Gorges group, has become the most generous "central" company this year. It has increased its holdings for the 5 time since May, and has increased its holdings by 320 million shares. The price increase has been around 7 yuan / share, and the total scale of funds has reached 2 billion yuan.

At the close of 29, Baosteel's share price was 5.08 yuan, and the Yangtze River electricity price was 6.27 yuan.

But Li Daxiao, director of the British Securities Research Institute, said in an interview with the China Securities Journal reporter that the holding of large shareholders of central enterprises indicated that industrial capital was seriously underestimated by their own companies, and that it was the right time to make a copy of the investment, and that it could also enhance investment confidence in the market, and at the same time, it did not exclude policy "protective disk" behavior.

At present, the quilt cover is not serious, and it will be stronger from the future trend.

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Frequent reduction of shareholders in small and medium companies

In addition to the large holdings of central enterprises, there was no phenomenon in the low market in 2008 this year: the reduction of small and medium-sized companies.

Statistics show that dips are still decreasing, especially in gem.

"This shows that the market is overestimated and underestimated, and industrial capital is divided.

Large companies, especially the central enterprises, are obviously underestimated, while most of them are overvalued, so one side is a big company shareholder to increase their holdings, the other is a small and medium-sized company holding executives to reduce cash holdings.

Li Da Xiao analyzed.

On August 1, 2011 -9 29, a total of 41 executives of GEM companies were reduced, while only 9 GEM companies were held by shareholders.

In August 2010, 23.020,0.00,0.00%, 300102, Ye Sunyi held a reduction of 6 million shares in September 13th and 23 in September. The average paction price was 26 yuan and 30 yuan, respectively.

Before the loss, Sun Yi held a total of 6 million 670 thousand shares of dry photoelectricity shares, the reduction is ready to cash in.

Correspondingly, its share price has been down for a week since September 23rd.

The high valuation of GEM companies is a common phenomenon. As long as the IPO is on GEM, the value of corporate executives is rising linearly.

"The high price is the characteristics of GEM companies, even in the low market position, which is much higher than the market value when they are not listed.

Therefore, institutional dividend is a strong driving force for executives to reduce.

Li Daxiao said.

There is a view that GEM companies in the low market to reduce the tide, is an important shareholder is not optimistic about the prospects for the development of the company.

Li Daxiao pointed out that not optimistic about the prospects for development and running away is an individual phenomenon, but most of the executive reduction is mainly driven by high valuation.