Selected layers first show: 21 shares broken, illegal reduction punished

category:Finance
 Selected layers first show: 21 shares broken, illegal reduction punished


This person believes that in the medium and long term, on the contrary, it is conducive to improving the marketization level of the stock issuance of selected layers and exploring a new valuation system.

On the opening day of the selected layer, regulatory authorities also frequently released good news.

High open low go individual stock differentiation

On July 27, the new third board (neeq) was officially opened to the market. Unlike the first batch of stocks on the scientific and technological innovation board, the trend of the first batch of 32 selected stocks showed obvious differentiation and volatility.

In the early morning of the same day, 32 stocks opened high collectively. Under the background of no price limit, some stocks soared, of which n-share and n-yongshun doubled. But before long, it began to fall back on the whole, turning green one after another, and even triggered a temporary suspension due to the drop of more than 30% and 60%. For example, the largest decline of n taixiang was more than 60%, and that of n hengtuo was more than 40%.

One hour after the opening of the trading, the decline of the above-mentioned stocks gradually narrowed. By the end of the afternoon, only 10 of the 32 stocks closed up, and 21 stocks fell in varying degrees, with an average decline of 4.37%. In other words, the 21 stocks broke on the first day, accounting for 65.63%.

Specifically, five stocks rose more than 10% on that day, with the highest share price increase of 55.4%. N Yongshun, n senxuan, n Yintu and N beiteri followed closely, with increases of 39.86%, 17.59%, 12.22% and 10.43% respectively. In addition, n taixiang and N hengtuo were at the bottom of the rising list, down 20.83% and 20.34%.

Time weekly reporter noted that the above performance is more eye-catching, substantial increase of individual stocks, most of which are oversubscribed multiples and are highly concerned by investors in the early stage. As share technology (n share), online and offline oversubscription multiples ranked third and fourth respectively, and N Yongshun was also the stock with the largest oversubscription multiple on the Internet.

On July 27, Zhuang Yawei, manager of Tianyu Chenxi asset fund, said in an interview with the times weekly, the reason why the rise of senxuan medicine (n senxuan) is higher is that its quality is good and its issuing price is lower. And n-bertry, at present, has a lower valuation and more active trading volume.

Judging from the overall transaction data, the trading volume of the first batch of selected stocks is still very large, nearly six times larger than the daily turnover of the new third board in the past. On July 27, Zhang Chi, chairman of Xinding capital, said.

There are bags for safety, but also for bottom copy

On July 27, Xu Song (pseudonym), a senior investor in the new third board, told reporters, he did not participate in the first batch of selected stocks, but planned to set aside a bottom position after selling the shares of the new third board which were recently lifted from the ban, so as to find a suitable target, and then invest in the selection layer.

A person from a small and medium-sized private placement organization in the South sighed to the times weekly reporter, it has been predicted that the first day of the selected layer will be broken, because the quality of the subject matter is uneven, and the overall valuation is high. Fortunately, when we hit the new off-line, we screened individual stocks.

And Zhang Chi said optimistically to reporters that Xinding capital had already laid out a lot of selected stocks in the innovation layer market. On July 27, taking advantage of the decline, Xinding capital took advantage of this decline and made some mark ups.

Mainly based on confidence in the future market. Because in the long run, there is still an obvious price difference between the selected stocks and the secondary market of a shares. I believe that after a long time, the price of oversold stocks will gradually make up. Zhang Chi said.

Public funds to select the level of secondary market volatility is also very calm.

On July 27, the deputy director of the asset management department of China Merchants Fund and the mixed fund manager of China Merchants growth select Co., Ltd., said in an interview with the times weekly, on the first day, we adopted a relatively cautious investment idea, optimistic about the new share subscription and transfer board investment opportunities of the selected layer, so we will focus on in-depth research and selection of individual stocks, and will not pay too much attention to the secondary market Trading opportunities.

It is worth mentioning that some investors put forward that the first day of multi share breakout of the selected layer was somewhat unexpected, worrying about the market liquidity and investment prospects in the future.

In this regard, many interviewees believe that the first day break is a normal phenomenon, and in a sense, it can force the market pricing to become reasonable and mature, and the short-term fluctuation of the selection layer does not affect the long-term layout.

Zhang Chi said to reporters that the first day of the stock market selection volatility is larger, affected by multiple reasons.

First of all, there is no lock-in period for some old shareholders, which is different from that of the science and technology innovation board, which leads to a large sale after the market opening; secondly, the stock prices of some selected stocks have been raised in the innovation layer, and there is a certain profit correction after listing.

The relevant person in charge of Wanjia fund also pointed out to reporters on July 27 that the main difference between the listing of new shares at the selective level and the traditional A-shares and the science and technology innovation board is that the sales restriction system is relatively loose, and the small shareholders before listing can circulate freely, which is a big variable, which will increase the power of selling shares and increase the complexity of the game in the listing of new shares.

Cracking down on illegal holding and releasing

On the evening of July 27, the national stock transfer company issued the first fine ticket for the selected layer. It is found out that Baoyuan Shengzhi, as a shareholder with more than 5% shares of technology shares of the selected listed company, reduced its holding of 80000 shares by centralized bidding on July 27, 2020, and did not disclose the reduction plan in advance, involving an amount of 1129100 yuan.

Baoyuan Shengzhis above-mentioned behavior constitutes a violation of information disclosure, and has decided to issue a warning letter to Baoyuan Shengzhi and restrict the trading of securities accounts for three months.

In the view of industry insiders, zero tolerance of illegal reduction of shares by national equity companies is conducive to stabilizing market confidence and standardizing investment of selected layers.

Time weekly also noted that there is still a wave of favorable policies on the new third board selection layer. On July 26, it was reported that the higher risk level (R5) setting of the first batch of new third board funds and the lower investment ratio limit will be changed in subsequent fund products. Specifically, the previous regulation that the proportion of new third board funds invested in the selected enterprises of the new third board in the closed period of products shall not exceed 20%, and the investment proportion in the open period shall not be higher than 15%, which will be abolished. At the same time, fund companies can set up public offering products of the new third board according to their own risk management ability and the risk return characteristics of the selected stocks, and reasonably set the risk of the products Rating, which means that the risk level of the new third board public offering fund (R5 high risk level) will be lowered. Obviously, the good news behind this news is that the incremental funds of public funds participating in the new third board selection layer are expected to increase in the future. Source: time weekly editor: Yang Qian_ NF4425

Specifically, the previous regulation that the proportion of new third board funds invested in the selected enterprises of the new third board in the closed period of products shall not exceed 20%, and the investment proportion in the open period shall not be higher than 15%, which will be abolished. At the same time, fund companies can set up public offering products of the new third board according to their own risk management ability and the risk return characteristics of the selected stocks, and reasonably set the risk of the products Rating, which means that the risk level of the new third board public offering fund (R5 high risk level) will be lowered.

Obviously, the good news behind this news is that the incremental funds of public funds participating in the new third board selection layer are expected to increase in the future.