Category: Money tips Release Date: 2006-05-11
With the annual disclosure of the gradual reaching a peak number of shareholders of listed companies will also become investors in the analysis of the focus of research projects. Changes in the number of shareholders of listed companies and their secondary market trend there are still some correlation, the less number of shareholders, indicating that the more centralized bargaining chips, stock prices tend to have an independent personality, more powerful, often moving against the general trend is to put aside short-term master tape selection Stock of the preferred varieties. The more number of shareholders, indicating that the more chips scattered, stock prices are usually higher than the weak are not independent, and often drift to follow the broader market. So investors need to carry out the necessary number of shareholders changes in the statistical analysis in order to better grasp the pulse of broad market and individual stocks.
But in the course of a concrete analysis of the number of shareholders should pay special attention to the analysis of the five major weakness exists:
First, analysis of data sources, number of shareholders the lag number of shareholders data sources, limited by the system, at present the vast majority of shareholders can only come from annual reports, mid-year report, quarterly gain. Annual report data tend to lag March-April, mid-year report also lag from January to February, analyzing data on the number of shareholders should pay attention to the timeliness of the data itself, 4 months would be enough for the operation of the main chip maker to complete a particular stage (such as Jiancang stage or distribution phase). Therefore, we must pay attention this time of the disk changes, especially the amount of energy change, according to these changes to determine the effective value of the data. Generally, if volatility is not, there is no surge capacity can be before, data on individual stocks is more effective, because it shows that no large-scale and out of huge amounts of capital.
Second, the analysis of changes in number of shareholders data on the number of shareholders will be subject to the effects of changes in equity, share placements, issuance will affect the number of shareholders changes.
Such as: Chunlan shares, respectively, in the August 24, 2001 Zhuanzeng 4.181 shares for every 10 shares and August 17, 2001 additional 6000 million A shares, the outstanding shares of the sudden increase from 7979.4 million to 19,824.2 million shares, the outstanding shares of shareholders number from 53186 to 77847, when the increase in the number of shareholders not only did not show that decentralized bargaining chips, but the relative proof of chips in the concentration of.
Although Major Holders will not affect the number of shareholders, but it will affect the number of individual shareholders, this analysis of the data must be fully considered and be excluded.
Third, analysis of the confusing number of shareholders of listed companies published in the annual report of the total number of shareholders holding the number of A shares is not to single out the number of shareholders and the number of B shareholders.
Which contain B shares 000055 square large number of shareholders is the 2001 Annual Report 42853, the actual flow of A shareholders the number of 22769.
Annual report to shareholders published in the number of number of shareholders are not listed separately and the employee shares in circulation flow number of shareholders.
Such as the 000,976 shares of 2001 Annual Report Chunhui flow of A shareholders the number of 50513, excluding employee stock number of shareholders after the circulation of the actual number is 47865.
Analysis of number of shareholders must pay attention to the impact of these factors, inaccurate statistics can not infer the correct analysis results.
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