Raid On The Stock Market: Mergers And Acquisitions And Refinancing Have Also Been Halted

In May 11th, a big news broke through the stock market. According to "new finance", the securities and Futures Commission has halted the cross-border growth of listed companies, involving four industries, including Internet finance, games, film and television, and VR.

For example, cement enterprises are not allowed to invest in the four industries through fixed purchase or raise funds.

At the same time, mergers and acquisitions and refinancing of the four industries have been halted.

The SFC encourages listed companies to develop industries.

"If a listed company does not do well in its main business, it will be a virtual industry that is totally independent of the main business. It is usually under the banner of mergers and acquisitions, and it will continue to blow up the bubble and ultimately hurt the interests of investors," he said.

The person familiar with the matter said.

So the problem is coming.

Is it reasonable for the SFC to do so? What's the effect of this?

1, China's stock market has always been the concept of speculation, from the early financial concept, Disney concept, to the concept of rare earth later, the concept of the Internet, the concept of free trade zone, graphene concept, hand travel concept, VR concept is all the same.

There is an old listed company in Shenzhen. Since its listing, every wave of the concept has been played by it. Until today, this enterprise is still "vanished".

However, for the "cross border boasting" listed companies, shareholders feel good about them, and think that management brains are alive, which brings money opportunities to everyone.

Don't think Chinese investors are stupid. When they buy this kind of stock, they are very aware of the fact that everyone is in a speculative way.

Finally, the real tax is not fast enough or greedy.

At present, 80% of cross boundary fixed projects may be for speculation.

That is to say, if the SFC cuts across the board, it can drive 80% of the swindlers.

But we should also see that 20% or 10% of companies may be genuinely interested in pformation.

Is it really good for the SFC to make a choice for the market?

But the SFC doesn't really ask, is it really good?

In fact, under the system of examination and approval, there is no solution to this kind of problem.

I hope China can improve the market economy system and implement IPO at an early date.

Let the market decide everything.

Instead of allowing officials and experts to consider for enterprises, which project should be launched, which should not be launched.

2, there is another important reason why listed companies are keen on playing games: these concepts are very popular among the public, but they are scarce in the stock market.

To put it plainly, the listing of enterprises is too difficult. It is hard to hang up a new three board, which is almost the same as "vegetative people". Basically, there is no turnover.

Shenzhen and Shanghai stock market IPO? Queuing can kill you.

3, therefore, the prohibition of "cross-border increase" of listed companies, in fact, cut off an important exit channel for venture capital, which will have an adverse impact on emerging industries.

If the new three boards are not active,

New shares continue to be like constipation, so public entrepreneurship and innovation will be negatively affected.

4, this will strike the activity level of Shenzhen and Shanghai stock market, especially the impact of medium and small board and gem will be greater.

Because the theme of stocks speculation will be much less.

Of course, this is conducive to controlling the stock market bubble and protecting the small shareholders with asymmetric information.

5, is it not for fear of choking?

6, let's take a look at your stock right now. Are you reporting "cross border boasting"? If so, you are in big trouble. At least one limit is waiting for you.

At noon, there was a new version of the incident.

According to the securities times, the reporter learned from a large brokerage firm in China that the person is participating in a game project and a film and television project.

The above-mentioned large brokerage investment bankers said: the game, film and television industries are now complying with the principle of "one case, one discussion". Specifically, mergers and acquisitions or fixed purchase of "no profit only storytelling" will be banned, while general projects have not been halted.

The reporter also learned from other people that mergers and acquisitions and refinancing in games, film and television industries have not been completely halted.