Listed Companies Have Decided To Increase The Rights To Share Capital.

Half year increase in industrial capital 45 billion 500 million increase in market undercurrent

From the middle of the year to the present, the stock market can be said to have been a vigorous bull to the home, and all the way up to now, the reduction of industrial capital during this period has affected the recent stock market trend.

However, behind the reduction, some of the industrial capital is in the opposite direction.

In June 24th, 000902.SZ issued a notice on controlling shareholders' holdings of shares of the company. The company's controlling shareholder, Hubei Yang Feng Limited by Share Ltd (hereinafter referred to as "Yang Feng shares") increased 1 million 459 thousand and 700 shares of Xinyang Feng stock in June 23rd.

Actually, this is not.

Stock raising cases.

WIND data show that as of June 24th, since 2015, a total of 601 listed companies have been increased by industrial capital, totaling 2 billion 624 million shares, with a total increase of about 45 billion 522 million yuan.

Meanwhile, during the period, 218 listed companies implemented private placement, raising a total amount of 421 billion 623 million yuan. In addition, 4 listed companies completed the rights issue, raising 3 billion 515 million yuan in total.

Motivation to increase holdings is different.

Xinyang Feng announcements show that "based on confidence in the company's future sustainable development, Yang Feng shares intends to increase shares of the company through the Shenzhen stock exchange trading system in the next 12 months (from the date of this announcement). It will be used to increase the holding capital of at least 200 million yuan (including this increase in capital), and the cumulative increase will not exceed 2% of the total shares issued by the company."

Similarly, the recent surge in the industry's capital investment in Yongxin (002014.SZ) case, for the purpose of increasing holdings.

Fang Song forward and other concerted action interpretations are also "promising prospects for the future development of Yongxin stock", and the number of holdings has reached more than 15% of the total share capital of Yongxin stock.

Because of Jia Yueting's reduction and the market concern, 300104.SZ also appeared the situation of the company's secretaries Zhang te holdings. According to the June 19th announcement, lett bought 58 thousand shares of the company's stock in June 19th.

Zhang's explanation is also based on his confidence in the future development of the company and the reasonable judgement of the current stock price trend.

In twenty-first Century, the economic news reporter noted that apart from the motive of increasing the value of "optimistic about the development of the company", the motives for increasing the shares of listed companies by industrial capital are various.

WIND data show that the largest market value of holdings is Beijing Hua Ju World Network Technology Co., Ltd. (hereinafter referred to as Hua Ju world). The company added 002285.SZ at the end of May, and its capital market capitalization reached 4 billion 253 million yuan.

In fact, Hua Ju was involved in the private placement of the world bank, in which the company's shares were increased.

BYD (002594.SZ) was ranked second in the market value of its holdings, reaching 1 billion 992 million yuan, and this increase came from the group 1 asset management plan of the League of nations, BYD. The reason is that "the manager of the company's employee stock ownership plan has completed the purchase of shares through bulk trading."

In the first half of this year, A (000012.SZ), which has a weak background in state-owned assets and a very fragmented share, was heavily increased by Qianhai life. The announcement of the 8 month announcement of A5 on the Southern Glass showed that Qianhai life once again bought CSG A1.04 billion from April 30th to May 7th this year, accounting for 5.02% of its total share capital.

As of May 7th, Qianhai life holds 208 million shares of A, accounting for 10.04% of its total share capital, triggering the placards again.

Qianhai life increased its holdings of A and triggered a two wave of placards, further widened the shareholding ratio of 3.62% of the second largest shareholder of the company.

Since then, A has issued 180 million shares, including Qianhai life for 1 billion yuan to subscribe for 112 million shares, and northern industry to subscribe for 67 million shares.

After the issuance of the shares, the shareholding ratio of Qianhai increased to 14.67%, while the shareholding ratio of the two shareholders was diluted to 6.33%.

Fan Chao, a researcher at Changjiang Securities, believes that the controlling power of Qianhai life has been further strengthened from the shareholding ratio. "At the same time, based on the cost price of about 11 yuan, over 4 billion yuan has been invested in A, and we think Qianhai's long-term strategic intentions and ideas are worth looking forward to and imagine."

WIND data show that since the first half of this year, CSG A is also the largest listed company with net holdings, with a net increase of 2 billion 73 million yuan.

In the first half of this year, the top ten companies were South Korea A, Vanke A (000002.SZ), Wanda information (300168.SZ), Yongxin shares (002014.SZ), Changyuan group (600525.SH), Zhongju high tech (600872.SH), agricultural products (000061.SZ), Twin Towers food (002481.SZ), Heng Shun Zhongsheng (300208.SZ) and Huaxi stock (000936.SZ).

According to the industry classification of the SFC, they come from non-metallic mineral products, real estate, software and information technology services, rubber and plastic products, computers, telecommunications and other electronic equipment manufacturing, food manufacturing, business services, electrical machinery and equipment manufacturing, and chemical fiber manufacturing. Among them, Zhong Ju hi tech and Twin Towers food belong to the food manufacturing industry.

In the view of a fund manager in Shanghai, industrial capital has more information advantages than ordinary investors. The amount of their holdings shows their confidence in the company's share price. "Net capital gains of industrial capital have a certain leading effect in timing, and the directive significance of the bottom market is outstanding, so it can be used as a reference index when investing."

Fixed increase is still fierce.

Apart from the increase of industrial capital through the two tier market, the private placement of listed companies is still frequent.

In June 24th, the 002413.SZ was announced to be completed. The issue of the issue of shares to buy assets is Polytechnic assets, science and engineering innovation and 39 natural persons. The target of supporting financing is Hongda Weiye, Lei Ke investment, Corey investment and Lei Ke's public investment, of which the matching financing is 196 million yuan.

Similar to the frequent issuance of shares, such a fixed increase in the acquisition of assets and supporting financing methods, in the first half of this year in the A share market has repeatedly staged.

WIND data show that since the first half of this year, there are two main directions for the purpose of raising funds in 218 listed companies, which are listed as follows: first, to acquire assets and two to supplement company liquidity.

In twenty-first Century, the economic news reporter noted that the amount of fixed capital raised by Baotou Steel Group (600010.SH) was the largest since 2015, reaching 29 billion 800 million yuan.

According to the previous announcement, Baotou Steel shares intends to be the controlling shareholder of Baotou iron and steel (Group) limited liability company, China Merchants wealth Asset Management Co., Ltd., Guohua life insurance, finance and communications fund, Shanghai Li Ying surplus Trading Co., Ltd., Shanghai six lotus Investment Center (limited partnership), Huaan asset management (Hongkong) Limited company, no more than 16 billion 556 million shares, the issue price is 1.8 yuan / share, the total amount of raised funds is not more than 29 billion 800 million yuan, after deducting the issuance cost, 29 billion 10 million yuan is used to acquire high-quality mine assets of Baotou Steel group, and the remaining 790 million yuan is used to supplement the working capital.

In addition to Baotou Steel shares, the company increased by more than ten billion in the first half of this year, including Guanghui automobile (600297.SH), China Textile investment (600061.SH), China Electric Power Construction (601669.SH), East China Technology (000727.SZ), Oriental Pearl (600637.SH), Yongtai energy (600157.SH) and Ping An Bank (000001.SZ) and other listed companies.

Guanghui motor completed the "backdoor" Melo pharmaceutical market in June 24th. According to the backdoor scheme, Guanghui Motor Co. will raise the total amount of matching funds by no more than 6 billion yuan, including 2 billion 182 million yuan for the 16.67% stake of Guanghui automobile acquisition and communications Leasing Company Limited, and 3 billion 818 million yuan to invest in foreign exchange communications to further expand its passenger car financing leasing business.

"

Not only can enterprises get a lot of cheap capital, but also can reduce the company's financial costs. "

The fund managers told the twenty-first Century economic report reporter that the listed companies could obtain additional funds through fixed increase, which could supplement company liquidity and purchase other assets. "Guanghui motor does not add 3 billion 818 million yuan to the financing lease business of passenger cars. If you use bank loans, think about how much financial costs it will need."

It is noteworthy that since 2015, 33 listed companies have appeared in the fixed increase plan of 23 listed companies, and many of the listed companies participating in the increase are either peers or business contacts.

According to regulations, mutual investment between listed companies does not violate laws and regulations.

Analyst Xiong Jinqiu once said that regulators should strictly control the "narrow" mutual shareholding of listed companies, and limit the voting rights of "generalized" cross shareholdings of listed companies.

Due to the convenience of fixed capital raising and excluding the implementation, some 600 listed companies announced plans to increase the amount in the first half of this year, and the proposed fund-raising amount reached 1 trillion and 562 billion 953 million yuan.

Its fund-raising uses are mainly divided into supplementary liquidity, matching financing, shell resource reorganization and so on.

In addition to fixed growth, WIND data show that 4 listed companies completed the rights issue in the first half of this year, namely, 002682.SZ, 300147.SZ, 002132.SZ and 002496.SZ.

"This kind of behavior of issuing new shares and raising funds to the original shareholders has rarely been used by listed companies."

A broker sponsor told the twenty-first Century economic news reporter that in the relatively mature stock market, the rights issue is not welcomed by shareholders, because the company's rights issue is often a precursor of bad management or failure.

When a listed company is short of funds, it should first finance the financial institutions to solve the urgent problem.

Generally speaking, banks and other financial institutions will not reject the loan requirements of an enterprise with good management and better prospects.

Poor companies will have to ask their old shareholders for money to tide over difficulties.

In June 24th, the refinancing plan of 600743.SH was finally settled. It was changed from fixed increase to 3 billion yuan.

According to the notice, Huayuan Real estate is to be allotted to all shareholders by the ratio of not more than 3 shares per 10 shares. The total number of shares is not more than 545 million shares, and the total amount of financing is not more than 3 billion. It is intended to be applied to Huayuan Huayuan Center project in Beijing, Beijing Xihongmen project, Xi'an Hua Yuanyue two phase project and repayment of loans from financial institutions. The amount of investment is 1 billion 600 million, 600 million, 300 million and 500 million yuan respectively.

Obviously, whether it is overweight or fixed, or rights issue, for the A-share listed companies, the first half of this year is the age of A, which has nothing to do with the macro economy.