Category: Money tips Release Date: 2007-03-24
Always ignored the opportunity to place banner in value investing, the first 4 months of 2007, or the best plate is the ST plate; in the context of a deep impression on the Shanghai and Shenzhen stock markets, or the largest is three board; in people's escape delisting fear less, when many funds have experienced in the initiative to seek delisting, * ST is no longer obnoxious to everyone across the street rat, three board may also will usher in the light. Americans have been crazy fried junk bonds, the establishment of China's stock market has also hype the beginning of the subscription card, asset restructuring occurred in 1998 years, now, in three panels of a successful reorganization of the stock is up more than 1000%, perhaps to buy a junk bond can not be a successful restructuring However, it is likely there will be 10 to buy a reorganization of success, while other stocks will continue to wait for reorganization, but also sold in the three board market, investors can board the Nuggets in three.
Garbage charm
Some people say that the risk of the futures market is smaller than the stock market is definitely a lot of investors will not agree, but listen to this view, maybe you have a new view. This theory, said: "If you do not take into account transaction costs, the futures market is a 0 and the market, your loss of 1 cent each by the other investors take profits, the same, you 1 cent loss risks, enough to make you produce a cent of the expected return, that is, the risks and benefits of the futures market is so. However, the stock market is not a 0 and the market, there are incessant IPO, issuance, allotment, but also to pay stamp duty, however, is meager dividends of listed companies, like blood from the stock market are too many people, so that is the sum of the investment earnings on stock market investors necessarily a negative, that is, when you take a loss of 1 cent in the stock market when the risk of You can see the expected return is not to 1 cent. "This is more than 10 years the stock market running down the wide medium and small investors scarred important reasons.
Then, in the stock market there is not close to 0 and then plate the game? Yes, this is the junk stocks. Because trash stocks have lost eligibility for re-financing, investors do not have to worry about the outside world to come here for blood, which is probably junk charm. According to statistics can be found, garbage stocks of the stock market is more intense than the blue-chip stocks Quotes, or blue chip stocks are far higher.
This is only speculation that the value of shares of garbage, trash stocks in our country there is a very important value of shell resource. Because of China's IPO resources in a relatively tight little bear market for listed companies, but the market capacity is also small, bull market, large capacity, but the application of the company issued more shares. So, if you want to through the IPO market, securities companies have to find someone to counseling, completed not less than six months counseling period, but also to declare materials, landscaping performance, cost, the more the inside, and counseling fees to securities firms to prepare materials manpower, material costs, but also give Inland Revenue taxes, no small cost. Then enter the crucial stage, according to the report, want to get list of members Fashen Wei, a 20 million yuan each person on the list may also require additional research to find sponsors, but also pay the underwriting fee, can rafts The team also is difficult to say, no one-year time must not, this is the IPO process.
Are there any other way? That is the RTO, RTO is not only fast fast, but also for quality of listed companies did not ask for, such as no way to satisfy the last three years, profits GF Securities, Hai Tong Securities, all the way through the backdoor listing successful listing, which is all the benefits, can be reflected in the price of the shell resource, which is supported by the theoretical basis for junk shares.
3 Market shares lower
ST compared to stocks, the three board market shares lower, from the current situation, delisting from the board of the company's share price generally between 1 yuan to 2 yuan, from the original NET, STAQ system, relatively high stock prices, We will be discussed separately.
Generally speaking, from the original NET, STAQ system is relatively good asset quality stocks, stock prices are high, investors who invest in such stocks mainly in the hope that they meet the listing requirements in the future to the motherboard after the listing, and thus make a profit, even if the not listed, you can not worry about bankruptcy, so that stocks are mainly nature, Landrace, Guangdong media.
At present, more than 1 yuan stepping down from the board of listed companies in general have seriously insolvent, at least 3 consecutive years of losses, if there is no external support, is difficult to throw off the burden of its own and return to the board. Therefore, to invest in such shares to the company is waiting for the other outstanding shares through the restructuring of three panels to achieve the purpose of backdoor listing, so the stock value of the three panels is just a shell resources.
But at present a large number of on the motherboard * ST stocks will eventually into the three panels in the world, but today they have been difficult to find on the motherboard 4 yuan less than the stock, while in the three panels in the world, texture is similar to shell resource value only son a chip many stocks are worth more than only 1 yuan and investment 3 board, perhaps more than invest in these companies are more cost-effective * ST.
Distinction between suspension and termination of listing listing
However, compared to 3 * ST stocks shares your board still has some truth, even if the * ST stocks have been delisted, but only temporarily delisted, if the 2007 semi-annual report can be profitable, will be able to resume listing has been stationed in the three panels long-stock, many are already being delisted, that is easy to lose half a year back channel. If you re-listing, it may require more complex procedures.
If you choose * ST companies have put a lot of, then how to select three board stocks? Stepping down from the board of three board shares are divided into two types, one is just back down, this usually is to suspend the stock market, have the opportunity to return shortly after the board, these stock prices are relatively high, and the other one is the termination of the listing, so that a company needs to record a profit in order to re-listing of its shares are relatively low.
But the low-cost advantage is that you can use a smaller risk to win more revenue, for example, Longdi successfully completed the restructuring of shares of its stock in the three-board market rose from 0.52 yuan to the current 402 yuan, is expected to return to the motherboard a sharp rise in stock prices will continue, which is to invest in three plate example.
Some people may say, how do I know which company will be re-successful? In fact, there is such a reason, in the United States, have appeared in bonds, heat, a lot of big companies with poor texture issue bonds, but the high interest rates, risky investments such as bonds, but also great benefits, so there are many investors Choose a variety of buying bonds, some bonds may ultimately not be liquidated, but the other bonds, the interest earned more than enough to compensate for the loss of individual bonds, such bonds are called junk bonds.
To buy three shares the same board can not be the success of each company can restructure, but not every company can not be a successful reorganization, if the success of the reorganization were not buying the stock, long-term holding, waiting for their successful reorganization, and perhaps as long as the There can be a successful reorganization, you can recover all the input, this point a bit like venture capital, or you can also be understood as the stock market the shares of the stock option certificates early, maybe the company's stock price board is also cheaper than the subscription card .
Daily Links
What is the share transfer agent
Share transfer agent is a securities company in its own or leased operating facilities, non-transfer of shares in public joint stock companies to provide services.
To properly resolve the original STAQ, NET system, the transfer of the outstanding shares of listed companies issue, June 12, 2001 approved by the China Securities Regulatory Commission, China Securities Industry Association issued "securities services business agents to a pilot approach to the transfer of shares," the work of the formal share transfer agents starts July 16 the first transfer of shares by listed companies. To address the transfer of delisting shares in issue, August 29, 2002 delisting the company from the transfer of shares into the experimental range of agents.
Share transfer agents the scope of the current pilot project is limited to the original STAQ, NET system, listed companies and the Shanghai and Shenzhen Stock Exchange delisting the company. Company to apply for share transfer agent commission should have conditions: the legal existence of the Limited, a company's structure is sound, the proportion of registered shares managed to achieve the requirements and so on.
The transfer of shares by way of auction a collection of matching pairs is no transfer of shares price index, the transfer price of shares to implement a 5% price limit. The transfer of shares into different categories, the company for the positive or net equity is positive, the stock transfer of five times a week, shares of other companies, the transfer of three times a week.
Agent is independent of the transfer of shares outside the stock exchange a system, commissioned by the transfer of shares of investors in the process, you need to open the transfer of accounts of non-public companies limited by shares.
Share transfer agents greater investment risk, investors should be fully understood. Investors in the securities business department signed a commission agreement with the transfer agent of shares, should carefully read "Risk prompt transfer of shares in the book" to understand the tips of the risks, commit themselves and bear the investment risk, and signature confirmation.
Transfer of shares in the company based on "the implementation of transfer of shares in Corporate Disclosure Rules" and other information disclosure requirements, to fulfill the information disclosure obligations. In accordance with the transfer of shares classified in the manner of transfer of shares the company's information disclosure of the implementation of different standards. The transfer of five times a week, shares of companies, information disclosure standards for listed companies, the implementation of reference; shares transferred three times a week the company, after the end of the fiscal year within 4 months, you must publish with the Securities and qualifications for the annual audit of accounting firm report.
Brokerage commission organized pursuant to share transfer agent agreement, transfer of shares to monitor the actions the disclosure of corporate information, guidance, supervision, transfer of shares the company according to a timely and accurate disclosure of information. Information disclosure obligations on the non-performance transfers of shares of the company hosting the broker an obligation to suspend the transfer of its shares.
China Securities Industry Association commissioned the transfer of shares in the Shenzhen Stock Exchange on the conduct of real-time monitoring. Securities Association of China to fulfill self-management responsibilities, transfer of shares in the securities business agents to supervise and administer.
