The So-Called "Buy Back" Of Listed Companies Is Just "Beautiful Lies".

The A share market is an unreliable market. It not only reflects the frequent violations of the law of listed companies, but also reflects the small problems of increasing shares or repurchasing stocks.

Obviously, to create an honest capital market, even if it is a "small problem", it should cause enough attention from the regulatory authorities.

This is also the proper meaning of market supervision.

From last June to the end of September last year, the A share market was on the alert. Regulators had to enter the field to maintain stability.

In addition to the "national team" represented by the certification company and Huijin Company, the SFC also calls on the listed companies to maintain the stability of their stocks.

As recently announced by the Y company, as of September 29, 2016, some of the shares of the repurchase company had been fully filled and the company failed to implement the buyback plan.

In September 10th last year, the board of directors of the company passed the motion on repurchase of some public shares of the company, which was approved by the provisional shareholders' meeting on the same day 29.

According to the bill, the repurchase price is not more than 20 yuan, and the funds are not more than 30 million yuan.

However, over the past year, the scheme adopted by the shareholders' meeting has not had any effect.

For the reasons for not implementing the repurchase, the listed company explained that, first, it is not possible to buy back during the sensitive period, for example, during the period of the disclosure of the regular report, it is not possible to buy back the stock; two, the listed company itself has different opinions on how to deal with the repurchase stock, and affects the implementation of the repurchase; three, the stock price can not be repurchased during the period when the share price exceeds 20 yuan.

Of course, all the reasons are sounding, but whether the listed company really wants to buy back is a big question mark.

Statistics show that as of October 9th, there were 52 A shares.

Issued a notice to buy back its own stock.

Among them, 15 of the 8 listed companies at the board plan stage of the buyback plan department have been completed and canceled, 7 of the repurchase has been completed, 9 are still in the process of implementation, and 13 listed companies have announced that they will stop buying shares of their listed companies.

Therefore, the "renege" is not only a Y company, but has a certain "universality".

Like Y, some listed companies that bought some repo finally failed to take part. Some of the reasons behind them were even very wonderful.

Like F, in July last year, the company issued the

Announcement of the company's A share shares, however, in August, it also claimed that according to the requirements of the SFC's "management method for the repurchase of public shares by listed companies" (Trial Implementation) and other reasons, it was considered that it was not advisable to implement the share buyback in the near future.

Although the listed company said it would improve the contents of the repurchase bill and submit it to the shareholders' meeting for consideration of the buyback bill, it has no further details since then.

Therefore, strictly speaking, the F company also "broke the promise" for the so-called buy back stock.

It is self-evident that a listed company announcements that it wants to buy back its own stock, so that it can stabilize stock price in a very special period.

More importantly, since the announcement has been made, it is no less than a solemn promise to the market and to its investors.

But some listed companies take their own commitments seriously, which in turn will lead to their dishonesty.

Not only its "

"Breaking the ground", similarly, its "integrity" is broken.

In fact, the phenomenon of bad faith in listed companies can be found everywhere in the current A share market.

Similarly, in order to maintain stability, a number of listed companies announced the increase of shares last year. There are many domestic listed companies such as Vanke.

However, Vanke's 10 billion increase plan was very tempting at the beginning, but in fact, the number of shares held by Vanke was limited and its funds were limited.

In a step back, if the Wanke increase plan can be completed earlier, perhaps it will not lead to the "barbarian of the door".

But for a time, everything changed after that.

For listed companies, such announcements as increasing shares and repurchasing stocks are not binding on them.

Otherwise, there will not be so many listed companies not implemented.

But after the announcement is not implemented, it will involve integrity.

It means that some listed companies have no regard for the so-called integrity problem.