Article 6 Under any of the following circumstances, the major shareholder of a listed company may not reduce its shares:
(1) The listed company or major shareholder is suspected of committing crimes in securities and futures, and has been placed on file for investigation by the China Securities Regulatory Commission or judicial organs, and it has not been six months since the decision on administrative punishment or criminal judgment was made.
(2) The major shareholder has been publicly condemned by the stock exchange for violating the rules of the stock exchange for less than three months.
(3) Other circumstances stipulated by the China Securities Regulatory Commission.
Article 7? In any of the following circumstances, the director of a listed company shall not reduce his shares:
(a) Dong is suspected of committing crimes in securities and futures, and it is less than six months after the administrative punishment decision and criminal judgment are made during the period when he is placed on file for investigation by the China Securities Regulatory Commission or the judicial organ.
(two) Dong has been publicly condemned by the stock exchange for violating the rules of the stock exchange for less than three months.
(3) Other circumstances stipulated by the China Securities Regulatory Commission.
Article 8? If the major shareholder or director of a listed company intends to reduce his shares through centralized auction trading in the stock exchange, he shall report to the stock exchange 15 trading days before the initial sale and disclose the reduction plan in advance, which shall be filed by the stock exchange. The contents of the shareholding reduction plan of major shareholders and directors of listed companies shall include but not limited to the quantity, source, time interval, mode, price range and reasons of shareholding reduction.
The time interval of reduction shall conform to the provisions of the stock exchange. During the time interval of pre-disclosure, the major shareholder Dong shall disclose the progress of reduction in accordance with the provisions of the stock exchange.
After the implementation of the reduction plan, the major shareholders and directors shall report to the stock exchange and make an announcement within two trading days; If the reduction plan is not implemented or completed within the pre-disclosed reduction time interval, it shall be reported to the stock exchange and announced within two trading days after the expiration of the reduction time interval.
Article 9 The total number of shares reduced by major shareholders of a listed company through centralized bidding transactions on the stock exchange within three months shall not exceed 65,438+0% of the total shares of the company. Shareholders' reduction of the shares issued before the initial public offering of the company and the shares issued by the listed company in a non-public offering through centralized bidding transactions on the stock exchange shall comply with the proportion limit stipulated in the preceding paragraph.
The number of non-public shares issued by listed companies that shareholders reduce through centralized bidding within 12 months after the expiration of the restricted share sale period shall also meet the proportion limit stipulated by the stock exchange. When the provisions of the preceding three paragraphs apply, the shares held by the major shareholders of listed companies and their concerted actions shall be calculated together.
Extended data
operating procedure
First, resolutely avoid high-priced stocks with heavy positions in the fund.
The higher the stock price, the stronger the desire for non-reduction. For example, Shanghai Pudong Development Bank and other banking stocks that are under great pressure to reduce their holdings have been "attacked" by the fund. Small and medium-sized retail investors should hide in "bomb shelters" and buy low-priced stocks that rose sharply in the first quarter. The performance of such stocks has just come out of the trough, and the size will not only be thrown away, but also it is possible to buy on dips, and it is possible to get out of the independent market.
Second, buy stocks that have been fully circulated.
For example, Sany Heavy Industry, the first batch of share reform, is fully circulated. Those who don't want to reduce their holdings have been polished at a high level of 6000 points, and more consideration is given to low positions. Of course, the premise is that the performance of listed companies is growing.
3. Buy thoroughly remoulded restructured shares or change its name to unlimited ST shares.
There is no danger of reducing ST shares. First, when restructuring, the equity has just been replaced, and the major shareholders will not reduce their holdings; Second, the share reform of ST company is late, and it is still too early to reduce its holdings; Third, the stock price of ST is low, and it mostly falls below the issue price, matching price and additional price. Under the cost of major shareholders, major shareholders cannot reduce their holdings.
For example, there is no way to buy the reorganized ST overpass. Who wants to reduce their holdings? In addition, the P/E ratio of ST Luoniu is less than 15 times, and it has applied for hat removal, and the income can be expected; ST Kelon closed the daily limit due to shrinking foreign mergers and acquisitions, and so on.
Fourth, buy new shares that have just been listed.
Don't worry about the size of new shares. It will take three years to reduce the size of new shares, especially those that fall below or close to the issue price after listing and are lifted by offline subscription institutions, such as China Coal Energy and China Pacific Insurance.
Fifth, buy three boards without boards.
Needless to explain too much, the three no plates have already been fully circulated, regardless of size. However, due to the small number and uneven quality of the three non-plates, it is difficult to form a climate and it is necessary to choose the best intervention. For example, Shenhua Holdings, which holds shares in coal mines and rebounds strongly into the rising channel, has a greater chance to participate in wind power.
6. Buy oversold stock tickets for small and medium-sized boards with pocket plates.
Pocket stocks with a total share capital of less than 1 100 million shares abound in small and medium-sized boards. These stocks have good growth and are not afraid to reduce their holdings. Even if it is fully circulated, it is still a small-cap stock, and it also has the advantage of sending shares in a large proportion. With the serious oversold of this kind of stocks, investment opportunities have been highlighted. For example, Founder Motor has a circulation of 20 million, a total share capital of 77 million, and earnings per share of 0.54 yuan, and its share price has dropped from the highest 30 yuan to 14 yuan. Do not blindly reduce the scale, that is, mantis catches cicada, and yellowbird buys it together.
The above six operating strategies of non-reduction should be applied flexibly and not mechanically. It should be operated in the band. If it goes up, it will be sold, and if it goes down, it will be bought. Only in this way can we maximize the benefits in the rebound.
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