On Tuesday, March 26th, the main contents of today’s headlines are as follows:
Media name front page headlines
China Securities Journal and CSRC issued 50 answers to IPO audit questions
Shanghai Securities News for the first time in nearly four years! The net outflow of northward funds in a single day was 10.7 billion yuan, which was not simply dragged down by US stocks!
Securities Times IPO regulatory Q & a 50 more practical
Securities Daily and CSRC issued 50 initial business questions to answer the issuer’s 10 situations
21st Century Business Herald the construction of Guangdong Hong Kong Macao Dawan international science and technology innovation center focuses on the connection of “soft environment” rules and giving full play to regional advantages
Economic information daily individual full admission local bond issuance channels welcome expansion
China Securities Journal ( zone )
the CSRC issued 50 answers to IPO audit questions
The answers to some questions on initial business issued by the CSRC on March 25 pointed out that in order to further promote the market-oriented and legal reform of stock issuance, support the development of real economy, enhance the transparency of audit work, improve the quality of information disclosure of initial enterprises, and facilitate the performance of duties by intermediaries, the issuance Supervision Department of the CSRC, in accordance with relevant laws and regulations, On the basis of studying and summarizing the practice of issuance supervision, after fully soliciting the opinions of all parties in the market and continuously improving the audit standards, the answers to some questions about initial business was formed.
A-Shares ushered in the “small climax” pledge pressure of important shareholders to reduce their holdings and ease the cooling of rapidly rising shares
With the stabilization and recovery of the market, A-Shares set off a “small climax” of reducing the holdings of important shareholders of listed companies. According to Dongcai choice, as of March 25, a total of 802 listed companies in Shanghai and Shenzhen have reduced their shares this year, with a year-on-year increase of 79%. Analysts said that the main reason for the rebound in this round of reduction was the pressure of “large and small non” centralized cash out and equity pledge after the sharp rise of share price. Some important shareholders choose to reduce their holdings at a high level, which is also regarded as a “Risk Reminder”. Some institutional people believe that practice has proved that the current impact of the reduction on the market is mainly reflected in the signal level. The “reduction tide” mostly corresponds to the local high point of the market, but its changes are difficult to form a trend impact on the market, and can only form a local phased impact at most.
the annual report of the first batch of public funds disclosed that fund managers are optimistic about the valuation improvement sector and high-quality industry leaders
The first batch of public funds was disclosed on the 26th of the 2018 annual report. According to the annual report, some fund managers believe that the differentiation of individual stocks will increase in 2019, and the structural opportunities will be stronger than those in 2018. They maintain a relatively optimistic attitude and are optimistic about the sectors and high-quality industry leading companies whose valuation can be improved.
in 2018, both revenue and profit increased by more than 20%. Vanke: stabilizing the “basic market” and promoting transformation and innovation
On March 25, Vanke released its 2018 annual report. During the reporting period, it realized an operating revenue of 297.68 billion yuan and a net profit attributable to shareholders of listed companies of 33.77 billion yuan, an increase of 22.6% and 20.4% respectively year-on-year. In terms of dividend distribution in 2018, Vanke plans to distribute 10.70 yuan in cash for every 10 shares. Vanke said that the current urbanization process in China is not over, and the demand for space in cities is still huge. With the new demographic changes and the improvement of industry concentration, the era of unilateral rapid rise in the market and rapid expansion of the industry as a whole has ended. In the new year, Vanke will promote transformation and innovation on the basis of stabilizing the “basic market”.
Shanghai Securities News (special area)
for the first time in nearly four years! The net outflow of northward funds in a single day was 10.7 billion yuan, which was not simply dragged down by US stocks!
Historical data show that since the establishment of the interconnection mechanism, there have been only two net outflows of more than 10 billion yuan per day, mainly on July 6 and July 7, 2015, with net outflows of 13.523 billion yuan and 10.358 billion yuan respectively. At that time, the stock market fluctuated abnormally in 2015, the A-share market was in an extreme market, and foreign capital was frightened to leave.
is the market poor or not? Look at Yang Ma’s move
Approaching the cross season, the capital “big test” arrived as scheduled. At this time, financial institutions will borrow money to reserve “grain and grass”. So, will capital interest rates soar? Will the market still complain about not being able to borrow money?
gold rush a shares! These “shadow stocks” on the science and Innovation Board contain enough gold
With the continuous attention of the market to the science and innovation board, many A-share companies are regarded as the “shadow shares” of the science and innovation board. However, despite the identity of “shadow stocks”, many of them have their own strength, both brand, strength and expectation.
private equity bosses lurking against the trend have made a lot of money. Next, they may start on these sectors
At the “13th private equity fund Summit Forum” held recently, many private equity people believed that from the perspective of valuation, comparison of global major assets, urbanization process, engineer dividend and other factors, A-Shares are still at the bottom of the region and are optimistic about the main investment lines such as technology and consumption in the future.
Securities Times (special area)
50 questions and answers on IPO supervision are more practical
Yesterday evening, the CSRC issued a total of 50 answers to some questions about the initial business, which are positioned in the specific understanding, application and professional guidance of relevant laws, regulations, rules and standards in the initial audit business, mainly involving the common legal issues and financial accounting issues of the initial applicant. The CSRC said that the purpose of issuing the “question answer” is to enhance the transparency of the audit work, improve the quality of information disclosure of initial enterprises, and facilitate the performance of duties and responsibilities of various intermediaries.
front page of Securities Times: the audit of science and Innovation Board may be stricter
After the implementation of the registration system on the science and innovation board, it is not that it is not reviewed, but that it is reviewed more strictly. For some time to come, the market will see that the exchange will exercise its power to vote against those situations that do not meet the issuance conditions, listing conditions and information disclosure requirements; If the application documents for issuance and listing are found to have false records, misleading statements or major omissions, the examination will be terminated; If the issuer and its controlling shareholders, actual controllers, intermediaries and their related personnel are suspected of securities violations, the CSRC will intervene in the investigation and punishment.
northbound capital is now the second largest net sale of Ping An Maotai in a single day in history
On March 25, the main indexes of A-Shares fluctuated downward, went north for capital intensive shipments, and sold nearly 10.8 billion yuan throughout the day, setting a single day high since the operation of the interconnection mechanism. Among the stocks with active transactions, Ping An Insurance (Group) Company Of China Ltd(601318) was sold by northbound funds with the highest net amount, about 1.1 billion yuan; Kweichow Moutai Co.Ltd(600519) was also sold for nearly 700 million yuan. Overall, financial stocks were heavily shipped.
failure in overseas project investment Everbright Securities Company Limited(601788) regulatory conversation with relevant principals
The impact of a failed overseas investment of the company under Everbright Securities Company Limited(601788) is gradually fermenting. According to the latest news, Shanghai Securities Regulatory Bureau took the measures of regulatory conversation with Xue Feng, chairman of Everbright Securities Company Limited(601788) and ordered Everbright capital to make corrections.
Securities Daily (special area)
the CSRC issued 50 initial business questions to answer the issuer’s 10 situations
On March 25, the issuance Supervision Department of the CSRC issued answers to 50 questions about the initial business, involving hot issues such as the gambling agreement, the verification and disclosure requirements of “three types of shareholders”, the identification of “one business mainly operated” on the gem, the fair value measurement of investment real estate, the ability of sustainable operation, dividends and capital increase.
CSRC: offline investors participating in the purchase of convertible bonds shall not exceed the asset scale
On the evening of March 25, the issuance Supervision Department of the CSRC issued the issuance supervision Q & A – Q & A on issues related to the issuance and underwriting of convertible bonds. For the regulatory requirements on the amount of offline investors participating in the subscription of convertible bonds, the Q & A said that offline Investors Participating in the subscription of convertible bonds shall not exceed the asset scale.
the social security rate will be reduced from May 1. Experts predict that the scale of fee reduction will reach 800 billion yuan
Finance Minister Liu Kun said at the 2019 annual meeting of China Development Forum on the 24th that China will reduce the payment proportion of basic old-age insurance units for urban employees from May 1, and all localities can reduce the payment proportion of enterprise social security from 20% to 16%. Experts predict that reducing the social security rate can reduce the cost of enterprises by 800 billion yuan.
Zhu Jun helped Jia Yueting with $600 million. The shares of the ninth city and LETV soared
After breaking up with sun Hongbin and Xu Jiayin, Jia Yueting welcomed his third “knight in white”. On March 25, Faraday future and the ninth city, a Chinese game operator, jointly announced that they would jointly establish a joint venture in China and reach an agreement on production, manufacturing, operation and sales to jointly enter China’s luxury intelligent Internet electric vehicle market.
21st Century Business Herald
the construction of Guangdong Hong Kong Macao Dawan international science and technology innovation center focuses on the connection of “soft environment” rules and giving full play to regional advantages
On March 25, Ma Xingrui, governor of Guangdong Province, said at the forum that he would solidly promote the construction of the international science and technology innovation center in the Great Bay area of Guangdong, Hong Kong and Macao, jointly build a modern industrial system with international competitiveness, combine the advantages of Guangdong’s relatively perfect scientific research system and industrial system with the strong high-end scientific research forces of Hong Kong and Macao, and layout and build a number of Guangdong, Hong Kong and Macao joint laboratories and major science and technology infrastructure, Accelerate the construction of Guangzhou Shenzhen Hong Kong Macao science and technology innovation corridor.
in 2019, the land supply area of multi underground transfer and land auction differentiation in second and third tier cities is obvious
Recently, the land transfer plans of cities including Guangzhou, Hangzhou and Nanning in 2019 have been released one after another. The land transfer area of many cities has decreased, and some cities have even decreased by about 64.15%. In the second and third tier cities, the land market began to show signs of differentiation. Although the land market as a whole is still depressed, and the land transfer fees monitored by some institutions have decreased by more than 20% year-on-year, the premium rate of land transactions in Suzhou and other strong second tier cities with residential land auction for many times has begun to rise one after another. Some analysts pointed out that due to the unclear expectation of the property market in 2019, real estate enterprises will be more cautious in obtaining land, and prefer strong second tier cities with signs of bottoming or loose policies, and the overall differentiation of the land market will intensify.
economic reference daily
individuals fully enter the local bond issuance channel to welcome expansion
With the first release of local government bonds to the over-the-counter market of commercial banks, the local bond issuance channel ushered in expansion. On March 25, Ningbo and Zhejiang Province took the lead in issuing local bonds over the counter. Individuals and small and medium-sized institutional investors can purchase Ningbo land reserve special bonds and Zhejiang shed reform special bonds through a total of 8 pilot banks’ local business outlets and electronic channels. This means that the local bond market is fully open to individuals and small and medium-sized investors for the first time.
alleviate the financing problems of small and micro enterprises with sustainable development mechanism
For a long time, small and micro enterprises have been plagued by the problem of difficult and expensive financing. In order to support the steady development of small and micro enterprises to the greatest extent, further promote social employment and accelerate high-quality economic development, it is necessary for financial institutions to build a sustainable development mechanism for small and micro financial services, effectively alleviate the financing difficulties of small and micro enterprises and mitigate the financing cost pressure of small and micro enterprises as much as possible.
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