High Delivery Has Become A Trend In The Market.

In view of the phenomenon of "high pfer and reduction" in the market, the regulatory authorities have little effective response to the problem.

However, the market wealth is stolen by large shareholders or executives of some listed companies because of high delivery and pfer.

Who is the winner of the market? There is no doubt that the illegal offenders such as the green land, the Wanfu branch and other financial frauds have achieved "appreciation" and "appreciation" of their wealth in a very shameless way. Behind all this, investors in the capital market are paying their bills.

Because the controlling shareholders and the actual controllers will be changed, the Wanfu branch which once allowed investors to pay attention to etiquette has aroused strong concern in the market.

Through the way of entrusting shareholders' rights, the right of control will be changed and whether there is any problem of avoiding backdoor.

What I am more concerned about is the problem of Gong Yongfu's wife, who is the real controller before the Wanfu branch.

In December 13th, Wanfu Sheng branch disclosed the report on changes in short rights.

The report shows that during the period from October 20, 2016 to December 9th, Yang Ronghua accumulated a total of 6 million 700 thousand shares of Wanfu bio holdings through bulk trading, accounting for 5% of the total number of shares of listed companies.

After the completion of the reduction, as of the date of the signing of the simplified rights and interests report, Yang Ronghua held 10 million 90 thousand shares of Wanfu science and technology shares, accounting for 7.53%, and still held more than 5% shareholders.

The reduction, Yang Ronghua cash 139 million yuan.

According to the closing price in December 9th, Yang Ronghua held a market capitalization of more than 280 million yuan.

The total value of Yang Ronghua's reduction and shareholding is up to 420 million yuan.

According to the original disclosure by Wanfu Sheng Ke

Before the issue of new shares, the 50 million shares of Wanfu branch were held. Gong Yongfu and Yang Ronghua held 20 million 95 thousand shares respectively, holding 40.19% of the shares respectively, and listed the largest shareholder and realized the absolute holding of listed companies.

The prospectus shows that before the listing, the net assets value of Wanfu Sheng Ke was 4.30 yuan per share, which means that the assets of Gong Yongfu and Yang Ronghua were about 173 million yuan.

After securitisation of assets, excluding Gong Yongfu's previous shareholdings, Yang Ronghua's shareholding value (valuation) exceeded 420 million yuan before and after the disclosure of rights and interests reports.

Therefore, the valuation of the Wanfu branch is huge.

But the Wanfu branch originally did not meet the requirements of listing, nor was it eligible to enter the capital market. But through financial fraud and packaging, the counterfeiters will steal huge profits from the market.

A similar scene also happened on the Yunnan green land, which was listed on that year.

The wealth of the stock market has been stolen by the violators in a blatant way.

In fact, stealing

There are many ways of wealth.

For example, in recent years,

It has become a trend in the market, and the proportion of high delivery also shows the trend of "sesame flowering and high growth".

And some of the listed companies' high pfer rates, which are based on enhancing stock liquidity and returning shareholders or letting shareholders share the fruits of the operation of listed companies, are carrying interests.

Some listed companies will disclose their plans to reduce shares before and after the disclosure of their high pfer plans.

What's more, the high pfer of some listed companies is not based on the growth of performance, rather than from the perspective of genuine return to investors, but rather naked and generous to the market and investors.

Today, counterfeiters will no longer have the possibility of "living" in the market. The path of stealing wealth from the market through counterfeiting and listing has been blocked, but the phenomenon of stealing market wealth, such as "high pfer + reduction" and high premium in mergers and acquisitions, is still on the way.

I believe that all these will create new inequalities in the market and let them run rampant, while damaging the interests of minority shareholders, and will also damage the long-term interests of China's capital market, and take necessary measures to deal with them.

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