In this regard, He Nanye, a special researcher of Suning Institute of Finance, told the Journal of Securities on September 10 that the shell value of listed companies was very high in the past. In order to maintain the status of listed companies, many low-cost stocks would often carry out major asset restructuring or be borrowed by other companies to restore business vitality. Moving stock prices rose. Nowadays, there are more and more denominated delisting stocks and immortal stocks. It can be seen that investors have gradually formed the concept of value investment, and their enthusiasm for fried shell and fried difference has been greatly reduced. In addition, the tightening of supervision and stringent crackdown on fraudulent restructuring methods also make the threshold of capital operation of low-priced stocks significantly increased.
Investors vote with their feet on the shell, reflecting the effectiveness of the market is improving. He Nanyes analysis shows that investors are no longer speculating in the shell. First, it shows that the shell value of listed companies is declining dramatically, the number of high-quality stocks in the market is increasing, and the listed resources are no longer scarce. Second, many shell companies are declining the possibility of future performance improvement. In the context of the current economic transformation and upgrading, companies with poor fundamentals will eventually be eliminated. Third, the current regulatory measures are changing to market-oriented, and the forced delisting of worthless shell companies will gradually become normal.
Ms. Li (not her real name), who has many years of investment experience, told the Journal of Securities that small and medium-sized investors in the A-share market are constantly enriching their expertise and increasing their risk awareness. Investors have made full psychological preparations for the stocks that will be delisted due to their lower par value. I hope that the delisting standard will be more perfect in the future, and help A shares form a virtuous circle pattern of survival of the fittest. Ms. Li said.
Talking about the significance of perfecting the delisting system for A-share market, Pangu think tank senior researcher, post-doctoral Pan He Lin of Applied Economics told Securities Daily that from the market environment, the stricter delisting system for A-share will effectively improve the quality of stock companies in capital market, improve the efficiency of resource utilization and promote the fresh blood of capital market. Cycle. At the same time, it plays a deterrent role in the system of listed companies, encourages listed companies to focus on long-term development, and constantly enhance their core competitiveness on the premise of abiding by the law, compliance and full confidence, so as to promote the overall quality of listed companies. In terms of investment concept, the improvement of delisting system also reduces market speculation, and the capital market ecology will become more rational and mature.
Source: Liable Editor of Securities Daily: Yang Qian_NF4425