China Securities Journal ( zone )
marketization and legalization operation, debt to equity swap to welcome the flowing water of funds
Recently, Shenzhen, Zhejiang, Dongguan, Chengdu and other provinces and cities have successively set up funds to help private enterprises by means of debt to equity swap. Industry insiders believe that the debt to equity swap project of private enterprises is attractive to social capital, but the project needs to be promoted through market-oriented and legalized operation. At the same time, in view of the complexity of the project itself, all participants need to be patient.
“wide credit” overweight private enterprise financing marginal repair
Recently, a series of financing support policies for private enterprises and small and micro enterprises have been intensively introduced, indicating that the “wide credit” policy is gaining weight. Institutions generally believe that regulators take supporting private enterprises to issue bonds as a breakthrough and apply the right medicine to the case, especially the introduction of bond financing support tools for private enterprises, which is conducive to improving the effect of monetary regulation in the transmission of financial markets, alleviating the operation and financing difficulties of private enterprises, boosting market confidence Reversing the situation of “one size fits all” excessive risk avoidance in the market can play a very positive role.
the share of ETF increased sharply against the trend, and the net subscription share of some products was close to or even exceeded the bull market stage
Since October, although the A-share market has experienced twists and turns, equity ETFs have been vigorously pursued by funds. Among them, the net subscription share of equity ETFs close to 20 billion hit a record high, especially the net subscription share of some ETF products such as CSI 300, SSE 50 and gem is close to or even more than the bull market stage from the fourth quarter of 2014 to the first half of 2015.
Qianshan pharmaceutical machinery lost 400 million yuan in the first three quarters. The board secretary said it could not guarantee the authenticity and accuracy of the financial report
Qianshan pharmaceutical machinery released its third quarterly report on the evening of October 29. In the first three quarters, the company realized an operating revenue of 175 million yuan, a year-on-year decrease of 32.77%, a net profit loss of 404 million yuan and a loss of 415 million yuan after deducting non recurring profits and losses. As of the end of the third quarter, the company’s net assets were 268 million yuan. According to the announcement, Chen longhui, Secretary of the board of directors and deputy general manager of the company, cannot guarantee the authenticity, accuracy and completeness of the quarterly report.
Shanghai Securities News (special area)
it is proposed to raise 120 billion yuan Bank Of China Limited(601988) and throw out the maximum preferred stock scheme of A-Shares
Yesterday, Bank Of China Limited(601988) the board of directors approved the non-public offering of preferred shares at home and abroad. According to the plan, the total number of preferred shares to be issued at home and abroad shall not exceed 1.2 billion shares, and the total amount shall not exceed the equivalent amount of RMB 120 billion. This is also the largest preferred stock issuance plan thrown out by A-share listed companies after the announcement on Industrial And Commercial Bank Of China Limited(601398) August 30 that it plans to raise no more than 100 billion yuan by non-public offering of domestic preferred shares.
22 virtual operators have obtained formal commercial licenses, and the mobile resale industry is “advanced”
The reporter learned from the Ministry of industry and information technology yesterday that Suning Internet has obtained an official commercial license for virtual operators. This means that at present, 22 enterprises in China have become formal virtual operators. Analysts believe that these enterprises have passed the test of pilot regularization, which can attract more resource investment, concentrate on business innovation and market promotion, and promote the development of mobile resale industry to a higher level.
the pledge rate is low, and the pledge of small-scale Trust shares is still in the “safe area”
As one of the participants in the stock pledge business in the market, the stock pledge business of individual trust companies has also been exposed to risks since this year. Many people in the trust industry said that at present, the number of trust participating in stock pledge business is relatively small. In addition, the current regulatory authorities have continuously launched a number of measures to resolve the risk of stock pledge. Some people in the trust industry believe that the scale of trust company’s stock pledge business is small and the risk is controllable as a whole. At present, it is still in a “safe area”.
consumption white horse fell sharply, and Dan bin was interviewed again
On October 29, Kweichow Moutai Co.Ltd(600519) brought a group of blue chip white horse stocks down the limit. In this regard, what does Dan bin, a private placement boss who has achieved good performance because he has long been optimistic about and holds Maotai? How will his Oriental harbor solve the contradiction between the long-term persistence of value investment and the withdrawal test of product income? On these issues, Shanghai Securities News conducted an exclusive interview with Dongfang harbor for the first time.
Securities Times (special area)
CSRC takes multiple measures to improve the integrity supervision mechanism
As of early October, the CSRC had publicized the list of five batches of specific serious dishonests on the “credit China” website, with a total of 91 people. The relevant person in charge of the CSRC said that the construction of the “two restrictions” punishment system is an important milestone in the construction of a mechanism to improve the restraint and punishment of dishonest behavior in the capital market, which promotes the parties to strictly fulfill their commitments and legal obligations, improves the effectiveness and deterrence of securities and futures supervision and law enforcement, and maintains the regulatory credibility of the CSRC, At the same time, it also provides a strong starting point for solving the low cost of illegal and dishonest in the capital market for a long time.
establishment of the first bail-out equity pledge product of venture capital: target scale of 20 billion yuan
Yesterday, the Securities Times reporter learned that the insurance industry was the first to participate in the establishment of a special product to resolve the risk of equity pledge, with a target scale of 20 billion. This product is set up by China Life Insurance Company Limited(601628) asset management company and is called “Guoshou assets Phoenix series products”. The product has been registered by China insurance asset registration and Trading System Co., Ltd. after the fund-raising work is carried out, insurance assets, social security and asset management products can invest in this product.
Ping An Insurance (Group) Company Of China Ltd(601318) it is proposed to repurchase no more than 10% of the shares, or the investment may reach 100 billion yuan
The strongest repurchase plan in the history of A-Shares appeared – last night, Ping An Insurance (Group) Company Of China Ltd(601318) disclosed that it planned to repurchase no more than 10% of the total share capital. Ping An Insurance (Group) Company Of China Ltd(601318) as a large blue chip financial institution with a market value of more than trillion, the repurchase involves real gold and silver injected into the market, which is expected to reach 100 billion yuan at most.
“Shenwu Department” two companies continued to lose money in the third quarter, and he Hui returned as general manager of Shenwu environmental protection
Shenwu is the third quarterly report disclosed by two listed companies at the same time, and there is no sign of improvement in operation. Shenwu environmental protection (300156) announced the resignation of Xue Xun, the general manager, while announcing a net loss of 247 million yuan in the first three quarters of this year. He Hui, who once served as the general manager of Shenwu environmental protection for a short time, returned to the stage.
Securities Daily (special area)
growth enterprise market 9-year 372 single reorganization epitaxial expansion stimulates endogenous growth power
In recent years, the endogenous growth momentum of M & A in the A-share market is full. Taking the gem as an example, by the end of September this year, 372 reorganizations have been implemented and completed on the gem in recent nine years, with a total transaction amount of 331 billion yuan. Relevant listed companies give full play to the role of the capital market as the main channel in the process of enterprise M & A, realize leapfrog development, further improve the company’s competitiveness and innovation, and carry out industrial integration and become bigger and stronger through M & A.
regulators dredge the blocking points and open the space for M & A and reorganization of enterprises on the new third board
Recently, the CSRC and the national share transfer system have successively issued a number of explanatory documents related to the M & A and reorganization of enterprises on the new third board, liberalized some restrictions and dredged many blocking points in the M & A and reorganization. For example, it is clear that if non listed public companies issue shares to purchase assets, the number of issuing objects is not limited to 35 people. Market participants generally expect that in the past two years, there have been many mergers and acquisitions involving new third board enterprises. It is expected that with the regulators clearing up matters related to mergers and acquisitions, it will promote the primary market and secondary market to play their trading functions, and pave the way and clear obstacles for market mergers and acquisitions.
835 annual report forecasts were quietly released. More than three types of institutions cross hold 5 annual report pre hi shares
As the disclosure of the third quarterly report of Listed Companies in 2018 is coming to an end, the number of annual performance forecasts of listed companies has also expanded rapidly. According to the statistics of the market research center of Securities Daily, as of yesterday’s press release, the number of listed companies that have disclosed the performance forecast of 2018 annual report has reached 835. Overall, the number of performance prediction companies reached 574, accounting for 68.74%. In addition to financial indicators, investors also attach great importance to the shareholding trend of institutions, especially social security, insurance capital, QFII and securities companies with strong financial strength and important position in the market.
Zhonghong shares is now “non refundable” and the custodian plans to solve 7.8 billion yuan of debt
On October 26, the third extraordinary general meeting of shareholders of ZH in 2018 passed the operation custody agreement signed between the company and guohou assets by a high vote. This means that guohou assets officially entered Zhonghong shares as a custodian to carry out debt restructuring, and there is still a glimmer of vitality for the “no refund” of listed companies. Some investors said that it is unscientific to order delisting only by the single index of “face value less than one yuan”. Although Zhonghong shares has broken its capital chain and is facing a debt crisis, the company’s current net assets are positive, and there are some quite good assets. If it is really delisted, the final loss is small and medium-sized investors.
