China'S Stock Market Is A Bit Of A Hot Spot.

China's stock market has an enduring investment main body, that is, the high pfer rate. Although some people are in a mess, there are still a large number of investors going on and on.

As a result, they die more and live less.

In recent years, the stock market in China has been slightly hot.

Once again, fanatical pursuit of the high delivery and pfer sector led to another surge in the high delivery and pfer sectors. Some stocks were continuously trading and the risk increased sharply. The Shenzhen Stock Exchange finally thought that it could no longer sit idly by and sent an educational report to understand the "high delivery" and avoid losses caused by speculation.

The mess in China's stock market is not too much education, but too much education and too little enforcement.

Superficially, small investors are following the trend, but their essence is that there are big funds in the wind and waves. Therefore, the rational investment of small and medium investors in education is only a superficial solution.

The article comes straight to the point. "As of December 15th, 15 companies in two cities have announced the" high pfer "profit distribution plan.

From the proportion of sending and pferring, this year's "high pfer" can be described as a strong attack. The "10 turn 20" super high proportion pfer scheme frequently appears, which constantly stimulates investors' investment impulse.

However, the "high pfer" has no substantial impact on shareholders' equity and corporate profitability.

The vast majority of investors need to understand the essence of "high delivery" and fully understand "

"Under the concept of investment risk, avoid the trend of speculation to create losses."

The pfer of shares or the delivery of shares is actually a kind of accounting treatment of different subjects. The internal structural adjustment of stockholders' rights and interests does not have any effect on the net assets yield, nor does it have any substantive impact on the profitability of the company. Of course, it is not possible for investors to increase their rights in the company. Its essence is playing a kind of digital game, but the stock market in China is playing the concept. Therefore, the high sending and pferring game is fun for everyone. Not only the public fund is fun, but also the private equity fund. Actually

Why is a digital game that has no real good interests so popular?

A company with relatively high liquidity and poor liquidity can also reduce its share price and enhance its liquidity. This is beneficial to investors' investment. However, in China's stock market, the introduction of favorable conditions is often accompanied by selfish motives, even with undisclosed criminal activities. The Shenzhen Stock Exchange has drawn special attention to investors. "It is not exclusive of individual listed companies to cooperate with the two tier market hype, or to cooperate with large shareholders and senior executives to sell stocks, or to cooperate with the incentive target to achieve the exercise conditions, or in order to attract investors to subscribe for shares in the refinancing process, and so forth.

The author suggests;

1 high handed pfer is only a matter of different accounting subjects and does not increase the intrinsic value of listed companies. Therefore, it is necessary to regulate the high delivery and pfer activities. The pfer of more than 5 shares in the past is a high pfer. However, this year's media disclosure of 10 shares is small. It can not be regarded as a high pfer rate. It is not a high pfer rate. Therefore, in order to cater to the market speculation, many companies, regardless of their growth performance, even decline in performance or even lose money, also offer high delivery and pfer. They can stipulate that the proportion of pferred stock can not exceed the proportion of performance growth, for example, the 50% increase in performance, the highest pfer rate is 50%, the highest pfer rate is ten to 5 or five increase.

In order to curb the continuous rampant high pfer.

2 many companies have high allocation to reduce their holdings, because the high allocation is to use the market expectation to push up the share price and allow them to reduce their holdings at a high level, so supervision should be drastic.

Some companies have introduced refinancing schemes, but their share price performance is poor and even below the price of issuance. Therefore, in order to stabilize stock prices, the listed companies will also implement high allocation, even collusion with big market funds and hype the stock price. Therefore, the same regulations stipulate that the high allocation can not be refinancing within one year, and some high allocation is for the sake of rewarding and rewarding the former refinancing providers, so that they can get higher returns. Therefore, a fixed share issue can not be allocated in a year.

3 the high allocation of China's stock market is a high place for insider trading. Therefore, more supervision should be carried out for high allocation companies, especially for the top ten tradable shareholders.

The Shenzhen Stock Exchange also pointed out that excluding individual listed companies in order to cooperate with the two level market hype, this behavior is very concealed and is generally difficult to investigate and punish. Therefore, it should be severely punished. Once a listed company colluded with the market funds and speculated on its share price, the listed companies will be retreated, and in accordance with the average price of nearly 10 trading days, the two class market participants will be fined 5 times.

The 4 is that high delivery is often accompanied by market manipulation. Whether it is pre high pfer to stock or high allocation ability stock, its turnover and stock price movements are very obvious. The signs of big funds coming in and out are very obvious. Some are fast forward and fast out, some are soaring continuously. The price manipulation traces are hard to hide, whether Long Zhuang or dignified. Therefore, it is imperative to strengthen supervision. Only by investigating and investigating together can the market have awe and dare not fry blindly.

Although the return of investors is in the name of return investors, the Shenzhen stock exchange is also aware of the seriousness of the problem. Some of them are obviously illegal and illegal behaviors. How can we rely on the education of small investors? It's not just a matter of shirking responsibility, but rather a bull's head.

Cracking down on the arrogance of lawless elements is a radical solution.

Speculation and sending more money is a kind of money relay game, because everyone knows that the high pfer does not constitute a real good, it is a game of fooling people, so the turnover rate is quite high. The 20% day turnover rate is common. What does the high turnover rate mean? It means market manipulation, which means that large funds can get short-term spreads.

Therefore, the ultimate victims of hype are not market manipulators, but small investors.

If the high pfer is accompanied by selfish motives, then the trend is more difficult to judge, and may continue to skyrocket. But after the reduction, the share price may continue to collapse. In the name of market value management, the implementation of the high pfer to the pre market manipulation of insider trading is highly related. At the end of last year, a company introduced a ten to twenty high delivery bill, but then it was accompanied by a reduction of hundreds of millions of dollars, followed by a well-known private equity fund which lurked among them. After the reduction of large shareholders, the stock price once collapsed, which caused investors to suffer heavy losses.

In order to cooperate with the reduction, a New Energy Company still implemented a high pfer in a huge loss, which once triggered media queries and regulatory questions, but ended in nothing.