Look!In the year

On September 21, Wanfu Biological Announcement stated that based on the continuous optimism of the company's development prospects, and in order to stabilize the stock price in the disadvantaged market and enhance investor confidence, the company's actual controller decided to terminate the relevant reduction plan in advance.

According to Flush iFind data, as of September 22, this year, a total of 110 important shareholders of A -share listed companies (including shareholders of more than 5 % of the shares and or more of the directors and supervisors) announced the termination of the reduction plan in advance. From the perspective of the cause, it is the mainstream reasons for the company's development prospects and boosting market confidence; there are also no shortage of consideration based on changes in capital demand and the impact of departure. In addition, when the decision to terminate the holdings in advance, many important shareholders of many companies have also made a certain period of no reduction of holdings and even throwing out the holding plan.

The reporter sorted out and found that 90 of the 110 companies disclosed the reasons for the reduction of the reduction in advance, of which 35 important shareholders of the company made a choice based on good expectations for the company's future development.

Many companies' reduction plans have been terminated before they are implemented. The most typical is the shareholder of Xingfa Group's shareholders of more than 5 % of the shareholders, and it has announced that it is proposed to reduce its holdings in mid -March with a maximum of not more than 2 % of the total share capital. Since then, it has not been implemented. Planning and stating that the termination of the reduction is mainly based on confidence in the future development prospects of the company.

"This can play a role in repairing market confidence in the short term, but in the long run, the market's judgment on stock value should return to the fund's fundamentals." Yu Qing, the founder of the lens company, told the Securities Daily reporter.

Wang Guangyuan, the Fed of the Fed Securities Investment Banking Department, also believes that from the long -term perspective, the stock price of listed companies mainly depends on the company's fundamentals and profitability. The more the operating performance of listed companies will continue to improve, and the entire market confidence will return to the right track. "

Important shareholders of listed companies have erected the reduction of reduction in advance based on the prospects of the company. Relevant data show that of the above 35 companies, the important shareholders of the 19 companies decided to terminate the reduction in advance in April and May, accounting for more than half.

"At that time, it was in a large market callback. The market confidence was weak and important shareholders' reducing holdings may cause irrational decline in stock prices." Wang Weijia, general manager of Beijing Sunshine Tianhong Asset Management Company, told the Securities Daily reporter.

The reporter also noticed that according to the relevant announcement, 5 important shareholders of the company promised that in the future (6 months to 12 months) in the future (6 months to 12 months) do not reduce the holdings of the company held by the company. Reverse operations, it is planned to increase the company's shares in the next 6 months.

"The reduction of shareholders of listed companies requires compliance with the company's law and securities law, the administrative regulations of the CSRC and the rules of the exchange. It is also the legitimate right of shareholders. The promise of shareholders to make a non -reduction has legal effect and must not change their promises without authorization. If the promise is changed If the loss of relevant investors, it needs to bear the liability for civil compensation. "Liu Chunyan, an associate professor at the School of Law of Tongji University, explained to the reporter of the Securities Daily.

"For excellent listed companies, in the long run, shareholders' reduction will not cause the stock price to reverse the direction of the stock price, and it is more disturbance of short -term stock prices." Wang Weijia said that the company's important shareholders of the company fell The promise of not being reduced or increasing in the future is more helpful to pass the signal of underestimation of the stock price to the market, which is conducive to stabilizing institutional investors' medium- and long -term holding confidence.

- END -