Reporter Wang Mopujia
According to statistics from a reporter from the Shanghai Securities News, since the China Securities Regulatory Commission announced on August 27 to further regulate the behavior of reducing shareholdings, shareholders of more than 100 listed companies have terminated their shareholding reduction plans. Among them, the controlling shareholders, actual controllers, directors, supervisors and senior management of listed companies are the “main force” in terminating shareholding reductions, accounting for about 80% of the cases of terminating shareholding reductions.
Li Xiao, deputy director of the Capital Market Supervision and Reform Research Center of the Central University of Finance and Economics, said that the issuance of new regulations on shareholding reduction can strictly regulate the shareholding reduction behavior of controlling shareholders and actual controllers of listed companies. This measure reflects the regulatory agencies’ stabilization of the capital market and the The fundamental purpose of promoting the high-quality development of the capital market is to maintain market stability and protect the rights and interests of investors. At the same time, major shareholders, directors, supervisors and senior management of listed companies assume important responsibilities in the company’s business development and governance, and restricting their shareholding reduction behavior can also prompt listed companies to improve their operating quality and improve corporate governance to a certain extent.
Shareholders of more than 100 companies terminated shareholding reduction
Since August 27, more than 100 shareholders of listed companies have actively responded to the new regulations on shareholding reduction, and some companies’ controlling shareholders, actual controllers, directors, supervisors, and senior executives have terminated their shareholding reduction plans in advance.
On the evening of September 21, Huangshi Group announced that it had received a notification letter from its controlling shareholder Huang Jiadi. Based on his own circumstances, Huang Jiadi decided to terminate the shareholding reduction plan.
According to Huang’s Group’s previous announcement, Huang Jiadi plans to reduce his holdings of no more than 2% of the listed company’s equity through centralized bidding starting from mid-July. At present, the shareholding reduction plan has not yet been implemented, and Huang Jiadi still holds 24.78% of the shares of the listed company.
In addition to Huangshi Group, controlling shareholders of many listed companies such as Zhidu Shares, Chaohua Technology, and Zhongguancun terminated their shareholding reduction plans early. Shareholders holding more than 5% of the shares of Yiheda, Huakang, Yangtze River Health and other companies have also chosen to terminate their shareholding reduction plans early out of considerations such as “confidence in the sustainable and stable development of listed companies.”
For example, Yiheda announced on September 15 that Weiying New Energy Technology (Wuxi) Co., Ltd., a shareholder holding more than 5% of the company’s shares, decided to terminate the previously disclosed shareholding reduction plan. The uncompleted shareholding reduction will not be completed during the reduction period. Continue again. Prior to this, Huakang also stated that Fujian Yake Food Co., Ltd., a shareholder holding 6.14% of the shares, announced the early termination of its shareholding reduction plan.
Also terminating the shareholding reduction plan are directors, supervisors and senior executives of listed companies. On September 6, Pan Jianjun, chairman of Mio Exhibition, Fang Huansheng, director and general manager, Yao Zongxian, secretary of the board of directors and financial director, and He Wenxi, supervisor, issued notices of early termination of the shareholding reduction plan. In May this year, the above four people successively disclosed their shareholding reduction plans. Since then, Pan Jianjun, Fang Huansheng, and Yao Zongxian have reduced their shareholdings in listed companies by 0.26%, 0.34%, and 0.30% respectively. He Wenxi has not implemented the shareholding reduction plan. Currently, Pan Jianjun, Fang Huansheng, Yao Zongxian and He Wenxi still hold 23.18%, 23.30%, 9.39% and 0.27% of the listed company’s equity respectively.
Similarly, many shareholders of Yuanlong Yatu also actively terminated their shareholding reduction plans in response to the call for new regulations on shareholding reduction. Yuanlong Yatu announced on September 19 that the company’s controlling shareholder Yuanlong Investment and its person acting in concert Li Suqin, the company’s directors Xiang Jing, Yue Xin, and Bian Yuchen, supervisor Li Ya, and senior managers Chen Tao, Zhao Huaidong, Rao Xiuli, etc. According to the notification letter, based on full confidence in the company’s future development, it was decided to terminate the relevant shareholding reduction plan in advance.
The impact of new regulations on shareholding reduction continues to expand
The new regulations on shareholding reduction have effectively regulated the behavior of shareholders of listed companies in reducing their shareholdings. For this reason, some company shareholders have had to terminate their original shareholding reduction plans.
For example, during the implementation of the shareholding reduction plan, Qinghai Huading’s actual controller, Renchuang Oriental Fidelity, acting in concert, stated at the end of August that it had decided to terminate the shareholding reduction plan early in accordance with the relevant requirements of the China Securities Regulatory Commission and the company’s specific circumstances. .
Qinghai Huading, although its stock price has not broken through the net, it has not distributed cash dividends for the past three consecutive years, perhaps due to poor performance.
It is worth noting that Qinghai Huading has consciously regulated dividend distribution behavior. In March this year, in accordance with the regulations on cash dividends of the China Securities Regulatory Commission, Qinghai Huading released a dividend plan for the next three years (2023 to 2025), which involves the cumulative dividend amount in the next three years being no less than the average annual distributable profit of the past three years. % and other related plans.
The relevant shareholders of Weibo Hydraulics’ shareholding reduction plan pressed the “termination button” before implementation. On August 31, the company announced that in accordance with the relevant requirements of the China Securities Regulatory Commission’s new regulations on shareholding reduction, combined with market trends, and based on reasonable judgments on the company’s value and confidence in sustained and stable development, among shareholders holding more than 5% of the shares and actual controllers, Persons acting in concert, Huai’an Zhongbo Information Consulting Services Co., Ltd., the company’s controlling shareholder Huai’an Haoxin Hydraulic Co., Ltd., and the company’s actual controller and chairman Ma Jinxing decided to terminate the shareholding reduction plan.
In Li Xiao’s view, the issuance of the new regulations on shareholding reduction has effectively protected the interests of small and medium-sized investors, improved investor confidence, and at the same time made investors pay more attention to the long-term investment value and shareholder returns of listed companies when making decisions, which will have a great impact on our country. The investment environment of the stock market has a long-term and positive impact and promotes the sustained and stable development of the capital market.
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