Right and wrong: after the share reform, non-tradable shares accounted for a large proportion before the share reform. If the restricted shares account for more than 5% of the total share capital, the shares can only be circulated after more than two years of reform.
Small non-tradable shares: non-tradable shares with a small proportion after the share reform. Restricted shares account for less than 5% of the total share capital, and can not be circulated until one year after the share reform.
The proportion of shares and the sale period are not clearly determined, but a popular saying in the industry.
The listing and circulation of restricted shares will mean that a large number of shareholders may sell their shares, the strength of the empty side will increase, and the original shares may depreciate. Be careful at this time.
The biggest "bookmakers" are neither Public Offering of Fund nor private equity funds, but large and small shareholders who can obtain non-tradable shares at low cost, that is, the so-called "big non-tradable shares" and "small non-tradable shares". Among them, the controlling shareholders have the most say in the market-they know the operating conditions of their own enterprises best, but before the share reform, the major shareholders and other corporate shareholders shares could not circulate, so they neither care about the company's share price nor have the motivation to run the listed companies well.
However, after the baptism of share reform last year, more and more "big non-"and "small non-"have been or will soon be released from circulation. Whether these major shareholders increase or decrease their shares in the company can reflect whether the company has investment value to a certain extent.
The original non-tradable shareholders who hold less than 5% of the total shares of listed companies can cash out without announcement restrictions, and investors have no way of knowing the specific situation. Therefore, listed companies with low proportion of restricted shares, scattered shareholders and no right to speak deserve special attention.
Domestic inflation, foreign economic crisis! Internal and external troubles! The government's inaction caused this panic collapse! Now it's not that the government doesn't save it, but it doesn't dare to save it, because the environment at home and abroad is not good! As soon as it rises, it is afraid that some funds will arbitrage and run away. At that time, the situation will be worse. Tax reduction is tantamount to grabbing meat from the government, just look at the attitude, because the stock market can crow in the middle of the night when it is overheated, but now there is a stock market crash, and 80% of the stock markets in the world do not charge stamp duty, while China collects 150% tax from other tax collection markets! Downgrading is reasonable! Shareholders' money is not blown by the wind and cannot be sucked away by the government like blood.
Now we can only support the rise when the policy is favorable, but whether the quantity can be enlarged or not can not be reversed. Shareholders rely on the government to save the market, not on their own, and can only follow the hot spots to reduce costs. If some heavyweights are introduced behind the stock index futures, then some people who want to do futures will have to match the varieties. Recent changes in ICBC, China Ping An, China Life Insurance and China Petrochemical show that some institutions are taking the opportunity to raise funds. They can intervene lightly, and the theme stocks begin to make up for the decline. !
Since there is no policy bottom, we can only wait for the market to bottom out! It is also possible to fall below 3000 points! We must be cautious in stock selection and bargain hunting, investors and friends! This year's reversal will not be as big as last year.