IPO A Batch Of High Frequency On Monday Affects The Market And Continues To Make More Confidence.

IPO batch on Monday has gradually become a normal phenomenon in the market.

However, in the face of the fast issuing rhythm of IPO, market investors are both helpless and worried.

And helplessness, nothing more than the accelerated pace of issuance of IPO in the stock market. The market is somewhat numb with regard to the issuing speed of IPO. However, in view of the current IPO new regulation mode, the prepayment mechanism has been abolished, and the market value distribution has been adopted, which has greatly strengthened the market demand for IPO.

However, if IPO is stopped, the demand for market capitalization will be greatly weakened, which may lead to a large amount of stock fund diversion, but on the contrary, it will create an impact pressure on the market.

Talking about the worry, that is, the batch issuing rhythm of IPO on the next Monday is too fast.

During this period, although the refinancing new deal and the reduction rules are perfect, it is expected to be hedged, but too soon the IPO issuing rhythm will still affect the market to continue to do more confidence.

Although the A share market has not yet entered the registration system, it is similar to the registration system in accordance with the current IPO issuing speed.

However, what puzzles the market is that under the background of the rapid pace of IPO issuance, the number of A share listed companies has exceeded 3000, and the annual flood discharge rate for IPO dammed lake has been greatly improved. However, the A share market has not yet been able to get rid of the dilemma of "unable to get in".

This shows that the A share market's survival of the fittest function has not been substantially improved, the existence of many years of the delisting system seems to exist in name only.

Since 2001, starting from PT Narcissus, the A share market has opened the situation of delisting of listed companies.

However, over the years, the number of new listed companies in the A share market has far exceeded the number of Listed Companies in the same period.

Over the past 16 years, the A stock market has really seen the delisting of listed companies, but not many.

In recent years, the issue of A share market delisting has once again been taken seriously.

From the delisting of the first central listed company, the withdrawal of the oil from the listed company, to the first withdrawal of the stock market due to the illegal disclosure of major information, and then to the Xintai electric company, which had been delisted by the issuance of fraud, the cases of forced delisting in the A share market began to increase gradually, but these cases accounted for a relatively low proportion of the listed companies in the A share market.

Obviously, compared with the mature market abroad, the A share market delisting rate is very low, basically can not achieve the real meaning of the survival of the fittest.

In fact, the reason why the A share market can't get in is not only the special problems of the A share market, but also closely related to the factors such as the local subsidy and the financial accounting adjustment of the listed companies.

Among them, for some parts

For example, such listed companies have made greater contributions to the local economy, and have brought a lot of positive influence to local employment and economic development.

However, when a number of local listed companies suffer a series of losses, local governments may subsidize listed companies through tax preferences, policy subsidies and interest waiver.

Over the years, subsidies for local listed companies have been quite significant in many places, which exacerbated the myth of "immortal birds" in local listed companies.

At the same time, for listed companies, excluding local subsidy factors, we can also achieve the goal of shell protection through flexible adjustment measures.

Among them, including asset impairment, investment income, backdoor reorganization, and even adjust the accounting method of financial accounting, can also complete the task of shell protection.

It is worth mentioning that in the Chinese stock market, financial indicators were met.

Only a few of them have been forced to withdraw from the market because of fraudulent issues such as fraudulent issuance and letter filing.

In contrast, for many listed companies that are on the verge of delisting or in successive losses, their shell value has been reflected. In view of the IPO barrier lake problem that has existed in the A share market for many years, the time spent on backdoor listing is much lower than that of IPO queuing time, and many years ago there were many "crows changing Phoenix" myth, and many listed companies were also reborn.

There is a strong demand for "protecting the shell" of listed companies. Once the qualification of "shell preservation" is obtained, listed companies can continue to occupy the resources of the A share market and realize more refinancing needs.

However, once a listed company fails to protect its shell, it will be very difficult to re apply for listing after the real delisting.

For those listed companies who have been forced to withdraw from the market because of fraud, letter and illegal issues, their application for re listing will be even more difficult.

Rigorously, the chances of such listed companies applying for re listing are slim.

It can be seen that the frequent occurrence of the phenomenon of "stock market immortality" in the A share market is still affected by many factors. In order to fundamentally break the phenomenon of "A can not enter", it should not only be perfected from the laws and regulations, but also need to be differentiated and simplified from the delisting rules, and at the same time, it is necessary to break the excessive protection of some local listed companies. The delisting must be decisively delisted. It is necessary to speed up the reorganization and integration for the reorganization and integration so as to raise the delisting rate of the A share market as much as possible, and enhance the function of the survival of the fittest in the real sense.

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