On the 28th, Chang Depeng, spokesman of the CSRC, said in response to the "long-term suspension of trading of listed companies":
In the next step, the CSRC will continue to improve the system of suspension and resumption of trading of listed companies, strengthen the front-line supervision of stock exchanges on suspension and resumption of trading of listed companies, and guide listed companies to prudently exercise their suspension rights while ensuring the smooth operation of suspension and resumption of trading, and maintain the continuity and liquidity of market transactions.
More than 200 companies suspended trading. Last year, 10 companies began to suspend trading.
China securities journal (ID: xhszzb) reporter combed Wind data and found that as of July 28th, 254 shares of A-share * * * were suspended. Among them, Shenfang A, Dongfang Electronics, *ST Hua Ze, Shagang, Zhonghuan, Deao Navigation, Changxin Technology, Quantum Hi-Tech, Xinwei Group, *ST Aifu, Dongyang Guangke, ST Wei Yun, *ST Qianfeng and Zhong Fang 14 started to suspend trading in the last year (20 16). *ST Xinyi's first suspension date is 20 15 12.7.
List of some long-term suspended stocks as of July 28, 20 17.
Previously, when the major shareholder was "painful", he shouted "stop"! It's not easy to make excuses for suspension! In the eyes of these companies, the principle of fair trade is fair ... "Taking music as an example shows that" once it falls, it will stop trading, and once it falls, it will engage in major issues, and investors have become accustomed to it ".
Letv.com18 announced in the morning that the target company of major asset restructuring is LeTV Pictures. Recently, Letv.com and LeTV Holdings signed the Agreement of Intention for Acquisition, and both parties agreed to continue the transaction. The company's shares will continue to be suspended for no more than three months from the morning of July 18, and the suspension time will not exceed six months from the first day of suspension. Letv shares have been suspended since April 17.
"LeTV is not only a master of fund-raising, but also a famous A-share suspension king. It has extended the suspension of trading or for self-help, but this time I am afraid I can't escape the first day and the fifteenth. "
Some netizens commented that China A-shares were rejected to join MSCI index because China listed companies suspended trading at will. Now LeTV has started to suspend trading for a long time, ostensibly to protect investors and avoid continuous limit, which may actually distort the market.
According to public data, LeTV almost suspended trading in the first half of 20 16, and then suspended trading for one week or nearly one month in July and 12.
CSRC: Strengthen the front-line supervision of stock exchanges on the suspension and resumption of trading of listed companies.
Constantly improve the system of suspension and resumption of trading of listed companies to maintain the continuity and liquidity of market transactions.
For a long time, the CSRC has included the improvement of the suspension and resumption system of listed companies in the important category of market basic system construction.
In May, 2065438+2006, the Shanghai and Shenzhen Stock Exchanges issued the Guidelines for the Suspension and Resumption of Trading of Listed Companies. In September, 2065438+2006, the CSRC revised the Interim Provisions on Strengthening the Supervision of Abnormal Trading of Stocks Related to Major Asset Restructuring of Listed Companies, the Provisions on Regulating Several Issues of Major Asset Restructuring of Listed Companies and other normative documents, aiming at solving the problem of arbitrariness, generality and duration of suspension and resumption of trading.
According to industry insiders, compared with the mature capital market, the average suspension time of listed companies in China is long, random and the information disclosure is general. The suspension rate of A-share listed companies exceeds that of Hong Kong stock companies, and far exceeds that of listed companies in capital markets such as Britain, South Korea, the United States and Japan.
"Overall, after the release of the new regulations on the suspension and resumption of trading of listed companies, the number of suspensions of listed companies has been greatly reduced." Chang Depeng said that in 20 16, the daily average number of listed companies in Shanghai and Shenzhen stock markets has decreased by about 20% compared with 20 15; The suspension time has been greatly shortened, and the suspension time of more than 90% of major asset restructuring has been controlled within three months, basically forming a stable market expectation.
But at the same time, we should also see that Chang Depeng emphasized that China's capital market is still in the stage of "emerging plus transition", problems such as immature market, imperfect system and unreasonable investor structure still exist, and insider trading, "following the trend" and "flickering" restructuring of the capital market still occur from time to time.
"While ensuring fair disclosure of information, the suspension and resumption system also undertakes the functions of preventing and controlling insider trading, locking the issue price, and completing the pre-approval of the asset management department, which objectively causes problems such as excessive suspension of individual listed companies and attracts market attention." Chang Depeng further added.
Therefore, to do a good job in the reform of the suspension and resumption system, it is necessary to achieve an organic balance between maintaining the order of the capital market and protecting investors' trading rights.