Guo Shiliang Talks About The Most Fatal Problem Of Listed Companies

In the stage of "deleveraging" near the end of the market, listed companies need to reflect deeply on the hot headed behavior before frequent "willful renaming" and cancel the fixed increase scheme, so as to let all return to reason and prevent major risks from being staged again.

In the last year and a half, A shares have experienced a roller coaster ride.

Among them, the Shanghai Composite Index, for example, surged from 2000 to 5178 in June, and then dropped to 2850 at the end of August.

Faced with the ups and downs of the market, many investors are also feeling "can not stand"!

With the sharp fall of share prices in the two tier market of listed companies, the price of many stocks has been far below the fixed level at that time.

What's more, more than 30% discount rate has also appeared.

As a result, some stakeholders of listed companies are under tremendous pressure.

In this regard, in the process of falling stock prices, listed companies have to take actions to reduce the fund-raising plan in order to ensure the shareholding status of major shareholders.

Some listed companies, in order to minimize risks, directly abolished the original fund-raising plan, while the early listed companies' crazy increase behavior also gradually returned to rationality due to the irrational decline of the stock market.

At the same time, we found an interesting phenomenon, that is, in the process of market pformation, the listed companies also staged many "big plays" at different stages.

Among them, the most representative example is the "renamed tide" of listed companies and the frequent face changing phenomenon of listed companies' fixed increase schemes.

In the past, for example, in the process of continued bull market, many listed companies began to play the idea of willful renaming.

However, the frequently renamed listed companies are largely inseparable from these reasons.

First, change the original company image by changing the name of stock.

Second, with the help of

Rename and enhance the comprehensive influence of stocks.

Third, with the help of renaming the market hotspots, we can achieve the goal of attracting capital attention and increasing market value.

Later, for example, after the irrational market fall in the previous market, the listed company set off another "big play", that is, frequent revision of the fixed increase scheme, and even more directly abolished the original fixed increase plan.

In fact, under the bull market, listed companies and all kinds of funds have also spotted this opportunity, and with the help of fixed increase fund-raising plan to achieve relevant fund-raising purposes.

At the same time, through a series of fundraising actions, the listed companies and related stakeholders can also get "extra" income.

According to statistics, in the first two quarters of this year, the A share market has issued more than 200 fixed increase plans, involving a total paction volume of up to 500 billion yuan.

According to this calculation, it actually exceeds the current IPO financing scale.

However, for the capricious A share market, this year's irrational decline trend from 6 to August has led many listed companies to implement the fixed increase plan in a dilemma.

However, this series of events also exposes some fatal problems of listed companies.

In this round of ups and downs of the market, the lack of contract spirit of listed companies is the most realistic portrayal of the period.

Obviously, whether it is the emergence of renamed tide or the frequent changes in the plan of increasing the number, it is reflected to a great extent.

It lacks the spirit of contract.

At the same time, under the current market supervision system, regulators have not punished the listed companies lacking the spirit of contract.

Moreover, through this round of stock market turmoil, the highly speculative nature of Chinese listed companies has also been exposed.

Specifically, under the bull market, listed companies will rely on all kinds of highly leveraged tools or various kinds.

To meet their own demand for leverage expansion, but during the period did not make adequate preparations for wind control.

As a result, when a sudden turning point appears in the market, it often makes the listed company unprepared and confused.