Whether The Stock Market In The Regulatory Framework Is Really Fierce Or Lucky In The Future?

In recent market rumors, the securities and Futures Commission intends to suspend the privatization of stocks and return to the Shanghai and Shenzhen stock market. The stock return to domestic A shares may be restricted by backdoor, reorganization or IPO.

A shares fell sharply in May 6th.

After the same day, a spokesman for the securities and Futures Commission said that the SFC has taken note of the relevant public opinion and is deeply analyzing and studying the possible impact of the IPO share market and merger and reorganization on the A share market.

At present, a series of problems arising from the return of stocks are actually the concentrated reflection of the long-term stock accumulation problem in the A share market. The biggest problem is that market manipulation has deeply planted A shares.

Regulators now have stricter supervision of insider trading, but they need to tighten their supervision over market manipulation.

A lot of insider information is not necessarily valuable or even worthless. Insider trading is a great loss to many.

Previously, a lot of junk stocks appeared irrational speculation on the basis of the concept of stock borrowing. Even in the "shell city", the middlemen introduced the two sides to meet tens of millions of dollars in face. This absurdity has come to an incredible level.

The SFC is aware of the seriousness of the problem, urgently studying countermeasures, regulating or controlling the return of stocks, which is conducive to promoting the healthy development of the stock market and helping to defuse the pressure of market expansion. This is a great good thing.

Of course, some shell stocks that are caught in the frying will escape from the wind and the price will drop sharply. The market pumping effect will be obvious. It will also drive the whole market to fall.

Now there is a view that the A share market has always been more popular. If the "one size fits all" restriction on backdoor acquisitions and mergers and acquisitions, it may bring a greater impact to the market, which is a "shock therapy" with a larger negative effect.

I think this is purely skew.

The author has always believed that since the gem takes into account the harm of backdoor listing and prohibits the backdoor listing, then the main board and small and medium size boards should be totally banned. Major reorganization and backdoor are the new assets listing behavior with larger volume, and it is not appropriate to distinguish different listing channels.

The IPO audit channel should be retained only after major reorganization and re listing.

Management should firmly prohibit the backdoor listing, or bring backdoor listing and major reorganization into the IPO audit channel.

Only by prohibiting backdoor listing and regulating major reorganization can the market succeed in the survival of the fittest mechanism.

Although the market has fallen for a short time, it is an excellent opportunity for value investors to absorb blue chip stocks.

Some junk capital stocks have no intrinsic value. Investors should buy speculative profits. If they want to get huge profits from the backdoor listing and major reorganization, they naturally need to take corresponding risks.

China's stock market returns to A shares through backdoor or reorganization, apparently for the purpose of seeking huge valuation differences between domestic and foreign markets.

Some of China's stock market suffered short overseas "short" attacks, valuations dropped sharply.

take the reverse into consideration

Touting the listed companies is rarely investigated, but once the listed companies are questioned, they may be prosecuted for the crime of damaging goodwill by listed companies. Therefore, the valuation of some stocks in the A share market is much higher than that in the offshore market.

In the end, what problems should we solve in the stock market? Some people say that they can make A shares.

Share the fruits of development.

But nowadays, it is not difficult for Chinese people to stir up stocks and stir up Hong Kong stocks. Especially when the Hong Kong Stock Exchange has been opened, investors in A shares can easily buy shares in Hong Kong. Why not let investors buy at a very cheap price in overseas markets? It is not necessary for investors to buy in A share market at a price of several times or even tens of times higher than that in the overseas market. Is this not a case of investors?

Moreover, some of the Chinese stock companies have accepted offshore financing and become "foreign companies". Many of them adopted the VIE structure. The stock return needs privatization and VIE structure demolition, but the privatization of the takeover offer to the market is generally much higher than the market price. China's stock market makes it easy for foreign investors to gain huge profits and turn to the A share market to recover costs and profits.

Some insider information is valuable, mainly by manipulators.

For example, although there are performance commitments and compensation schemes for major reorganization, these achievements tend to exaggerate, and even the compensation commitment in the next three years may become empty, but there are more than ten trading boards under the main force.

Only by cracking down on market manipulation can the A share market get a fundamental rebirth.

Therefore, the regulatory authorities should deploy some of the regulatory power to combat market manipulation, especially the large-scale internal and external collusion market manipulation of listed companies with information disclosure.