China Securities Journal ( zone )
many development problems to be solved in the reform of college enterprises
As of the first quarter of 2018, there were 35 listed companies with universities or university holding companies as the top ten shareholders, and 24 listed companies with universities as the actual controller, involving a market value of more than 300 billion yuan and a net asset of 150 billion yuan. On May 11 this year, the guiding opinions on the system reform of enterprises affiliated to colleges and universities (hereinafter referred to as the opinions) required to adhere to the reform direction of the state-owned asset management system, comprehensively clean up and standardize the enterprises affiliated to colleges and universities, clarify the relationship between property rights and responsibilities, implement the reform work by classification, and Promote Colleges and universities to concentrate on running schools and realize connotative development. However, insiders said that there are still many difficulties in the reform of university enterprise system, and the road of reform will have a long way to go.
the repurchase scale reached a new high, and it was time to improve the share repurchase system
Regulators are stepping up efforts to improve the share repurchase system of listed companies to promote listed companies to optimize their capital structure and enhance their investment value. According to the data, so far this year, the amount of share repurchase implemented by listed companies has reached 20.13 billion yuan, more than double that of 2017, setting a historical record in the A-share market.
the two listed companies are limited by St environmental protection in autumn and winter due to environmental protection shutdown, and will add
Environmental protection storm blows to listed companies. Jiangsu Yabang Dyestuff Co.Ltd(603188) and Huifeng Co., Ltd. were recently suspended by St due to environmental protection, which is also the first time that A-Shares were subject to st due to environmental protection. According to statistics, so far this year, more than 40 A-share companies have been punished by the environmental protection department because of pollution and other problems.
* Yi Zhu, the largest shareholder of St Hairun
*St Hairun announced on the evening of August 14 that Yang Huajin (Yang Huaijin), the largest shareholder of the company, intends to transfer 312 million shares (accounting for 6.61% of the total share capital) held by him to Huajun industry (China) Co., Ltd. (hereinafter referred to as “Huajun industry”) by means of agreement transfer. The announcement shows that Huajun industry is a company actually controlled by Meng Guangbao. After the change of equity, Huajun industry has become the largest shareholder of the company. Meng Guangbao is the former chairman of * ST Hairun.
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Shanghai Securities News (special area)
national stock transfer companies: securities companies maintain a high level of service quality for enterprises on the new third board
Since this year, the service quality of securities companies to enterprises listed on the new third board has always maintained a high level. The evaluation results of the practice quality of the host securities companies on the new third board show that from January to July, the monthly average of the host securities companies with a comprehensive score of 80 or more accounted for 74%. According to the 2017 annual report of the securities company, the new third board business of securities companies has developed steadily and has established a whole business chain service system such as recommendation and listing, financing, M & A, market making and letter Phi supervision.
actively carry out online promotion and renovate the idea of bank disposal of bad assets
A news that a bank directly promoted special assets online stirred the bad debt market. Recently, Bank Of China Limited(601988) mobile banking launched the “special asset channel” to provide professional and convenient special asset investment channels. Such special assets refer to the collateral corresponding to debt paying assets and non-performing creditor’s rights. In the non-performing asset market with many participants, it is rare for commercial banks to actively promote special assets through online channels. Nowadays, banks take the initiative to expand special asset information channels, or reflect the transformation of banks’ Thinking on the disposal of non-performing assets.
restructuring and suspension, new changes, increased transaction difficulty, test investment banks
Recently, the exchange is strictly controlling the suspension of M & A. This means that the long suspension of trading of listed companies for several months due to M & A will become a thing of the past. Investment bankers said that the non suspension of M & A or shortening the suspension period before the announcement of the plan may become the new normal. This also challenges the work of intermediaries, and new countermeasures are needed to operate restructuring transactions.
restructuring failed, resumption plummeted Harbin Gloria Pharmaceuticals Co.Ltd(002437) controlling shareholders face position explosion
Old worries are not gone, but new worries are added. After the termination of the acquisition of Tianmai biology, the Harbin Gloria Pharmaceuticals Co.Ltd(002437) resumed trading on August 13 suffered two consecutive one word limit drops, and yesterday’s closing price was 5.01 yuan / share. This price has been much lower than the equity pledge closing line of the controlling shareholders previously announced, and the controlling shareholders are facing a position explosion crisis. According to the company’s semi annual report, Yuheng group, the controlling shareholder of the company, has pledged 933 million shares, accounting for 42.45% of the company’s total share capital and 99.96% of the company’s shares. Among them, nearly 50% of the shares were frozen by the judiciary.
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Securities Times (special area)
special bond issuance accelerated
On August 14, the Ministry of Finance issued the opinions on doing a good job in the issuance of local government special bonds, which required to speed up the issuance and use of local government special bonds and give better play to the role of special bonds in stabilizing investment, expanding domestic demand and making up for weaknesses.
17 MSCI theme funds all have negative returns
Early yesterday morning, MSCI announced that it would implement the second step of incorporating a shares, increasing the inclusion factor of existing A-Shares from 2.5% to 5%, and accounting for 0.75% of Mingsheng emerging market index. In fact, fund companies earlier captured the investment opportunities brought by MSCI, but the performance of these funds has been affected to some extent due to the poor performance of the basic market this year.
pig prices rose by 33% in recent March, and the industry now has balanced profits
Before and after the emergence of African pig plague in Northeast China, China’s pig breeding industry has ushered in a generally favorable market from loss to profit. Since mid May this year, the average price of pigs in China has increased by about 33%, and most industry enterprises have come out of the early loss situation.
suspected of false financial statements, Zhonghong shares were filed for investigation
Huge losses and huge debts, termination of fixed growth, project shutdown and sales stagnation, Zhonghong shares (000979) added new troubles. Zhonghong Co., Ltd. announced on the evening of August 14 that Anhui securities regulatory bureau decided to file a case against the company for investigation due to the suspected false records in the first quarter report, semi annual report and third quarter report of 2017 disclosed by the company. The share price of Zhonghong shares has fallen endlessly this year. The latest closing price is 1.04 yuan / share, but the share price once fell below 1 yuan, becoming one of the few “fairy shares” of non ST Companies in the history of a shares.
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Securities Daily (special area)
A-Shares are included in MSCI, the weight is increased by 60 billion yuan, or enter
Early yesterday morning, Mingsheng company announced that it would implement the second step of integrating China’s A-Shares into Mingsheng MSCI China Index, and the inclusion factor would be increased from 2.5% to 5%. At the same time, 10 A-Shares would be newly added with a 5% Inclusion factor, increasing the number of A-Shares included in MSCI to 236, accounting for 0.75% of the weight of MSCI Emerging Market Index. It is conservatively expected that it may bring about 60 billion yuan of incremental funds to the A-share market.
the central bank adjusts the caliber of social financing scale, and M2 growth is expected to meet the medium and long-term inflection point
The July financial statistics report released by the central bank on August 14 shows that the increment of social financing scale in July was 1.04 trillion yuan, 124.2 billion yuan less than the same period last year; At the end of July, the stock of social financing scale was 187.45 trillion yuan, a year-on-year increase of 10.3%.
the non-performing loan ratio of commercial banks may be maintained at 1.7% – 1.9% throughout the year
According to the data recently released by the CBRC, at the end of the second quarter of 2018, the balance of non-performing loans of commercial banks was 1.96 trillion yuan, an increase of 182.9 billion yuan over the end of the previous quarter; The non-performing loan ratio of commercial banks was 1.86%, an increase of 0.12 percentage points over the end of the previous quarter. In addition, the balance of concerned loans of commercial banks was 3.4 trillion yuan, an increase of only 14.9 billion yuan over the beginning of the year, accounting for 3.26%, a decrease of 0.23 percentage points over the beginning of the year, and has decreased for seven consecutive quarters.
* the chairman of St Kangda was detained and did not change the strategy of Jingji group. He plans to continue to promote tender offer and seek actual control
Chairman Luo Aihua was arrested and chief financial officer Li Lifu lost contact. Overnight, * ST Kangda’s situation changed greatly. On August 13, * ST Kangda held two meetings of the board of directors, removed Luo Aihua and Li Lifu from all positions in the listed company, elected Xiong Wei, a director of Jingji as the chairman, and three other people of Jingji entered the management. After five years of equity dispute, Jingji group won a complete victory.
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