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China Research Network
Recently, a number of listed companies have announced plans to increase the shareholding of controlling shareholders.
On the evening of October 19, six central enterprises, including Guodian Power, China Nuclear Power, China Shenhua, Inner Mongolia Huadian, China Aluminum, and China State Construction, all issued plans to increase their shareholding by controlling shareholders. Previously, on the evening of October 16, 10 listed central enterprises issued repurchases, shareholding plans or progress announcements.
On the evening of October 19, China Nuclear Power issued an announcement on the plan of the controlling shareholder to increase its shareholding. According to the announcement, based on confidence in the future development of China's nuclear power, CNNC, the company's controlling shareholder, and its concerted actors plan to increase their holdings of the company's shares by no more than 500 million yuan in the next 12 months, funded by CNNC's own funds.
On the same day, China Shenhua announced that the company's controlling shareholder, National Energy Group Corporation, plans to increase its holding of A-shares in the company through its wholly-owned subsidiary National Energy Group Capital Holdings Co., Ltd. in the next 12 months, with an increase amount of not less than 500 million yuan and no more than 600 million yuan, and the price of the increase is not more than 33.10 yuan per share.
China State Construction also issued an announcement that the company received a notice from its controlling shareholder, China State Construction Group, on October 19 that China Construction Group intends to increase its holdings of A-shares in the company by means of centralized bidding transactions, with a total amount of not less than 500 million yuan and no more than 1 billion yuan.
While listed companies are successively releasing plans to increase their shareholding, there are also companies that have announced plans to increase their shareholding are rapidly implementing.
For example, on the evening of October 16, CRCC issued an announcement on the controlling shareholder's plan to increase its shareholding in the company. China Railway Construction Group, the company's controlling shareholder, intends to increase its holding of the company's A shares, with a cumulative increase ratio of not less than 0.1% of the total issued share capital of the company before the increase, not higher than 0.25% of the total issued share capital of the company before the increase, and the total amount of the increase shall not exceed 300 million yuan.
After market hours on October 18, CRCC issued a progress announcement on increasing its stake in the company, saying that China Railway Construction Group increased its holding of 2.4 million A shares in a centralized bidding transaction on October 18, accounting for about 0.0177% of the company's total share capital.
As the "stabilizer" and "ballast stone" of the national economy, the listed companies of central enterprises take the initiative to "protect the plate", conveying confidence in the company's operating conditions and the future development of the market. Listed central enterprises carry out buybacks and benefit from strong policy support.
The relevant person in charge of the CSRC previously said that listed companies with conditions are encouraged to actively carry out repurchases, and listed companies that have issued repurchase plans are urged to accelerate the implementation of repurchase plans and increase repurchase efforts; In May last year, the State-owned Assets Supervision and Administration Commission (SASAC) issued a work plan to improve the quality of listed companies controlled by central enterprises, clearly encouraging central enterprises to use share repurchase and other methods to guide the reasonable return of value of listed companies and help enterprises develop benignly. Listed central enterprises have issued repurchase-related announcements to inject more certainty into the market. Whether the stock price is undervalued or not, the listed companies themselves often know best.
Listed companies of central enterprises threw out repurchase plans in a big way, on the one hand, to show the company's cash strength, on the other hand, it also expressed the judgment that their own stock prices were undervalued, and conveyed to investors multiple information such as the company's stable performance and clear development expectations, thereby calling the market to follow up and buy and activate market trading. The buyback of listed central enterprises is also to protect investors with "real money".
Judging from the demands of the interactive platform of the exchange, investors generally have strong expectations for the repurchase of listed companies, and even exceed the desire for cash dividends of listed companies. At this time, the listed central enterprises bought back the shares out of their own pockets, actively responded to investors' concerns, and took practical actions to safeguard the interests of investors. There are also voices of concern and skepticism in the market.
From past experience, although some listed companies have issued announcements to carry out buybacks, "thunder is loud and rain is small"; Some listed companies use the name of repurchase to carry out pseudo-market value management, release false signals to the market, and write empty promises; Some listed companies reduce their holdings while buying back.
In this regard, listed companies should show a more sincere attitude, increase the intensity of cancellation repurchase, take the initiative to "slim down" share capital, and truly give back to shareholders; Regulatory authorities should strengthen attention to and supervision of the buyback behavior of listed companies, severely punish insider trading, market manipulation and other violations of laws and regulations, eliminate investors' doubts with "zero tolerance", and create a clean and honest market environment. Since the beginning of this year, affected by the intertwining of internal and external factors, the volatility of the A-share market has increased, and the overall valuation of the market has hovered at a low level.
The more such a moment, the more necessary it is for the cohesion of various market participants. In addition to the listed central enterprises that have already taken action, the market expects more listed companies to use buybacks, increase holdings and other methods to support the undervalued market value and stabilize confidence, and more institutional investors such as securities companies, fund companies, and insurance funds will take the role of safeguarding the overall situation and leading the direction.
Positive forces are converging. After many years, Central Huijin Company recently increased its holdings of the shares of the four major banks again, injecting capital into the A-share market; On October 16, China Clearing officially took effect on the arrangement of reducing the minimum settlement reserve payment ratio for equity business, releasing nearly 40 billion yuan compared with September...
With the successive implementation of a series of policy measures to stabilize the economy and stabilize the market, the trend of improving the performance of listed companies driven by economic recovery has become more and more inventive, and the consensus of market participants to "think in one place and work hard in one place" continues to condense, and it is believed that "boosting investor confidence" will come naturally, and "active capital market" will come as scheduled.
In addition to the repurchase and increase of shareholding, since the CSRC issued regulations to further regulate the reduction of shares, 80 listed companies have announced that the company's controlling shareholders, actual controllers, directors, executives, etc. have promised not to reduce their holdings of the company's shares within a certain period of time. In the past month, the total amount of shares reduced has been about 12 billion yuan, down more than 70% year-on-year.
The stock fund industry report provides a specific analysis of the development status, competition pattern and market supply and demand situation of China's equity fund industry, and analyzes the opportunities and challenges faced by the industry from the aspects of the industry's policy environment, economic environment, social environment and technical environment. It also focuses on analyzing the business status and development pattern of key enterprises, and makes professional predictions on the development trend of the industry in the next few years.
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The performance of chip-related stocks in A-shares this year may be the initial reaction of the market, and in the future, with further research by institutional investors and as ordinary investors digest the short-term sentiment, the overall market reaction should slowly become rational.
The mainland July CPI released by the National Bureau of Statistics on Wednesday morning rose 2.7% year-on-year and 0.5% month-on-month, slightly weaker than expected. In addition, the PPI rose weaker than expected in July. Although the CPI annual rate increase hit a two-year high, it is still somewhat positive, after all, the market was somewhat worried about inflation exceeding expectations.
Equity fund investors can first look at the US CPI, or just look at the direction of the US dollar. In most cases, the chance of this factor bringing volatility to A-shares is relatively small, but there is no absolute, and it is always right to care about various factors.
The data shows that the first quarterly report of the fund shows that after excluding money market funds, the total size of the fund fell by 5% month-on-month, of which the scale of equity funds fell for the first time in nearly three years.
According to Tianxiang data, the current stock fund size is about 2.26 trillion yuan, down 10.78% from the previous month; The scale of mixed funds was 5.23 trillion yuan, down 12.67% from the previous month; The size of bond funds was 6.81 trillion yuan, an increase of 3.51% from the previous month. The largest increase in size was FOF funds, which increased by 9.74% month-on-month; The largest decrease in size was in other funds, which decreased by 30.49% month-on-month.
Recently, the A-share market has seen frequent IPOs. This week (April 18-22), a total of 15 new listings were listed, of which 6 broke on the first day, with a first-day break rate of 40%. Up to now, there are 114 A-share newly listed stocks this year, and 32 have broken on the first day, with a first-day breaking rate of 28.07%.
So far, the IPO size of A-shares has exceeded US$58 billion (about 390 billion yuan), a record high, compared with US$4.9 billion, US$19.1 billion in the US and US$9.9 billion in the European markets. The share of A-shares in global IPO fundraising more than tripled from 13% at the end of 2021 to 44% this year, with other regions showing sharp declines.
In addition, year-to-date A-share IPO shares are up an average of 43% from the issue price. According to market analysis, the A-share IPO market has withstood adverse factors such as the downturn in economic fundamentals in the United States and Europe, recession fears and other adverse factors, and compared with the global capital market, A-shares in the trend of earnings recovery are still very attractive assets.
On the basis of a large number of analysis and forecasts, the stock fund report studies the future development and investment strategy of the industry, provides insight into opportunities for stock fund companies in the fierce market competition, adjusts business strategies in a timely manner according to market demand, and provides accurate market intelligence information and scientific decision-making basis for strategic investors to choose the appropriate investment time and the company's leadership to make strategic planning.
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Pay attention to the headline "Central Research Institute Puhua Research Institute", private message "Industry Report", you can get an excerpt of the report, come and discuss quickly!