China Securities Journal ( zone )
the cbcirc is speeding up the formulation of specific plans for special insurance products and increasing the progress of equity investment
Authorities recently revealed that the cbcirc is speeding up the formulation of specific plans for special insurance products to clarify the rules related to the participation of insurance funds in resolving the liquidity risk of stock pledge of listed companies. The reporter recently learned that many insurance companies have begun to prepare to conduct research on relevant listed companies, take corresponding measures according to the performance of listed companies and the financial strength of shareholders, and may adopt the way of establishing non-standard investment products, with a lock-in period of 2-3 years.
the financing scale in the first half of this year exceeded that of last year. Supply chain ABS is in the ascendant
Since the successful issuance of the industry’s first supply chain ABS in 2016, this business has developed rapidly, and the issuance scale has been stable and large-scale. According to statistics, in 2017, supply chain financial ABS issued 54 orders, with a total financing amount of 50.697 billion yuan, an increase of 350% and 291.03% respectively compared with 2016. In the first half of 2018, supply chain finance ABS issued 60 orders, with a financing scale of 59.989 billion yuan, 1.18 times that of 2017.
the IPO passing rate of enterprises on the new third board continued to decline, and the listing of listed enterprises in Hong Kong increased
According to the data, as of October 22, 19 of the 37 new third board companies had successfully held the IPO meeting this year, with a passing rate of 51.35%, a significant decrease compared with the same period in 2017. And the number of enterprises actively terminating IPO counseling and withdrawing materials increased significantly. It is worth noting that many new third board enterprises with “three types of shareholders” have successfully held the meeting. With the implementation of the “new third board + H” framework, 11 new third board enterprises have announced their plans to issue shares and list in Hong Kong stocks since this year.
liquidity distress Wintime Energy Co.Ltd(600157) re exposure of debt default
Wintime Energy Co.Ltd(600157) announced on the evening of October 23 that the original cashing date of the company’s “17 Wintime Energy Co.Ltd(600157) cp006″ financing bonds was October 23, 2018, and the accelerated maturity date was August 1, 2018. As of August 1, the company failed to transfer the cashing funds of “17 Wintime Energy Co.Ltd(600157) cp006” to the custodian in full and on time as agreed.
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Shanghai Securities News (special area)
the vitality of the two financing businesses has decreased, and the financing customers are cautious and do not love war
Data on the 22nd showed that the balance of two financial institutions in Shanghai and Shenzhen finally ended its eight consecutive declines and rebounded slightly. However, even in the face of Monday’s sharp rise, financing purchases did not keep up with the rebound, only buying more than 30 billion yuan, indicating that financiers lack confidence in bottom hunting with leveraged funds.
the third quarterly report of the first batch of public funds is released, and the fund manager holds on to good stocks and waits for dawn
In the third quarter of this year, the Shanghai composite index continued to fluctuate at the bottom after a sharp fall in the early stage, while the gem index fluctuated downward. During this period, how does the public fund operate? According to the three quarterly reports just released by a number of public fund-raising management institutions, fund managers generally believe that the current market valuation is at a low position and has entered a better range of medium and long-term layout. In response to the current difficult times, it is necessary to keep the high-quality company slowly, and the dawn is not far away.
Association of listed companies: connect the database of China Securities Regulatory Commission
The first meeting of the second standing council of China Association of listed companies was held in Beijing on October 19. The meeting was presided over by Wang Jianzhou, President of China Association of listed companies, and attended by representatives of 57 executive director units. The reporter learned from this meeting that the recent implementation of the association’s key work includes: hosting the “Second International Seminar on listed company governance” and promoting the construction of information platform for directors, supervisors and senior managers of listed companies.
Taizhou 100’s performance fell, but it received a 16 fold premium Maoye Commercial Co.Ltd(600828) connected acquisition of suspected major shareholder of “blood transfusion”
Taizhou 100, which was abandoned two years ago, is now to be acquired again by Maoye Commercial Co.Ltd(600828) under the banner of “department store king” Huang Maoru at a premium of more than 16 times. This connected transaction being promoted by Maoye Commercial Co.Ltd(600828) has attracted the attention of regulatory authorities and investors. Its transaction purpose is suspected to mainly provide cash for Maoye commercial building, the controlling shareholder of the company.
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Securities Times (special area)
private enterprise bond financing support tool released crmw escorts private enterprise financing
On the 22nd, the central bank announced to guide the establishment of private enterprise bond financing support tools to stabilize and promote private enterprise bond financing. The reporter learned that in order to alleviate the financing difficulties of private enterprises and prevent systemic risks in the bond market, Bank Of China Limited(601988) inter market dealers association will organize professional institutions such as China bond credit enhancement Investment Co., Ltd. to explore market-oriented ways to support the issuance of private enterprise bonds, so as to alleviate the financing pressure for private enterprises that temporarily encounter liquidity difficulties.
the 100 billion asset management plan attracts the attention of insurance asset repurchase and dividend
11 securities companies will invest 21 billion to establish a parent asset management plan as a guiding fund to attract the participation of banks, insurance and other institutions, and plan to reach a fund scale of 100 billion. It is reported that insurance institutions are interested in such products. While paying attention to how to implement the product rules, repurchase and dividend terms have also become the focus of attention. Most insurance institutions hope that such products will be made into fixed income products, investors will enjoy dividend rights and interests, and lock in risks through repurchase arrangements. The excess return brought by the rise of stocks is not the most valued by insurance institutions.
Midea plans to absorb and merge Little Swan to fully integrate washing machine resources
“Little Swan” finally flew into “beautiful” home. On the evening of October 23, cygnet a (000418) announced that Midea Group Co.Ltd(000333) (000333) plans to issue A-Shares to absorb and merge cygnet, and will not resume trading temporarily. The announcement said that Midea Group Co.Ltd(000333) will issue shares to all convertible shareholders of Little Swan except Midea Group Co.Ltd(000333) and titoni in exchange for the A-Shares and B-Shares of Little Swan held by these shareholders. The A-Shares and B-Shares of Little Swan held by Midea Group Co.Ltd(000333) and titoni will not participate in the share exchange, and these shares will be cancelled after the share exchange absorption and merger.
Fujian Oriental Silver Star Investment Co.Ltd(600753) the reorganization failed and was questioned. It was planned for eight months
After brewing for more than eight months, Fujian Oriental Silver Star Investment Co.Ltd(600753) (600753) major asset restructuring still failed to escape the end of termination. On October 23 Fujian Oriental Silver Star Investment Co.Ltd(600753) it was announced that after careful consideration by the company’s management, the current capital market environment and the objective situation of this major asset restructuring faced certain uncertainties in continuing to promote this major asset restructuring. After careful study, the company decided to terminate this major asset restructuring. After deliberation and voting by the board of directors, the company agreed to terminate this major asset restructuring, and promised not to plan any major asset restructuring within 1 month after the announcement of the results of the investor briefing.
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Securities Daily (special area)
policies in many places support 100 billion yuan, which is expected to reinforce listed private enterprises
At present, Shenzhen, Beijing, Jiangmen and other places have issued policies to provide liquidity support for listed companies, especially private enterprises. Experts predict that the fund is expected to reach hundreds of billions of yuan. Tang Chuan, research director of 360 financial PPP Research Center, told reporters that local support for listed companies mainly gives priority to supporting leading enterprises and “weighted” enterprises, which means that leading private enterprises in various industries will also be first supported by the state-owned assets system and the financial system.
the stock market rose sharply, 109 stocks lifted the warning, the stock price approached the closing line, and 82 stocks fell sharply
According to statistics, as of yesterday’s closing, the number of individual stocks whose share price is close to the equity pledge early warning line and the Ping Cang line has not increased significantly compared with Monday. Compared with the closing on Friday, the number of stocks with stock prices close to the early warning line decreased by 109, and the number of stocks with stock prices close to the closing line decreased by 82. The risk of equity pledge is alleviated, and the securities companies as the pledgor can also breathe a sigh of relief.
13 brokerage asset management companies made a big profit of 4.3 billion yuan in the first three quarters, leading Huatai asset management performance, and the profit is close to the 1 billion yuan mark
According to statistics, in the first three quarters of this year, there were many highlights in the performance of 13 listed securities companies and asset management companies. First, the net profit of asset management company accounts for 17% of the total net profit of the company, and the performance contribution is much higher than that of securities companies, investment banks and other businesses. Secondly, affected by strict supervision and the implementation of new regulations on asset management, the performance of asset management companies of securities companies continued to differentiate. In the first three quarters, the net profit of seven companies fell year-on-year, and only four companies achieved growth.
many 100 billion scale real estate enterprises shrink the front and “cut marketing and increase design” to reduce expenses for the winter
At the end of last year, the real estate industry staged a “people grabbing” war of 100 billion yuan or real estate enterprises who wanted to be promoted to the 100 billion yuan camp. The extreme desire for scale once made the employee turnover rate of this industry reach more than 35%; More than four months ago, the plot began to reverse, and some 100 billion yuan real estate enterprises quietly launched the personnel structure adjustment plan.
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