Home >

Technology Stocks Refinancing Passion Surging "Rush To Eat" Relay Race To Do Multiple Price Difference Rate

2020/2/26 10:06:00 0

Technology StocksRefinancingPassionRelay RacesSpreads

After the new rule of A share refinancing comes into operation, the listed companies will increase the trend of catching up with each other.

From the announcement issued by the Shanghai and Shenzhen two cities in February 24th and 25th, there were 6 and 5 listed companies on the two trading days, respectively.

In twenty-first Century, according to the statistics of the economic report reporters, 5 of the 11 listed companies that launched the fixed increase refinancing plan on these two trading days were refinancing purposes to supplement liquidity and repay bank loans.

Prior to 2010, the SFC began to strictly restrict the use of refinancing to supplement liquidity and repay bank loans, and reemphasized in 2016. In November 2018, regulatory authorities relaxed restrictions on refinancing and refunding loans. However, until the new rules of refinancing came into effect, there were few listed companies that raised all funds to make up and repay loans.

"A large number of listed companies will raise funds to supplement liquidity and repay bank loans. This is against the original intention of refinancing, and it is more likely to accelerate the market's" bloodletting "speed, which is not conducive to the healthy development of the market. A private person in Fujian told reporters on twenty-first Century economic report.

Listed companies scrambling for food first

The new regulation of refinancing comes out again, and the A share market immediately set off the upsurge of fixed increase and refinancing.

In twenty-first Century, according to Wind information statistics, in from February 14th to 25th, the Shanghai and Shenzhen two cities jointly launched 99 refinancing projects with a discount rate of 80% (including the revised plan).

And from the newly announced fixed increase plan, the listed companies that adopted the 80% discount rate to determine the fixed price increase accounted for more than 80% of the small and medium-sized plates from the technology stocks.

However, those listed companies that are ready to refinance will not raise the proportion of the fund raising to repay and repay loans.

In February 25th, 300725.SZ announced plans to issue 10 million 648 thousand and 700 shares in 61.04 yuan / share, and 650 million yuan to raise funds and make up for loans.

By the end of the three quarter of 2019, the asset liability ratio of pharmaceutical technology was only 25.78%.

Hang Bang shares (002237.SZ) is a big appetite. The plan for fixed increase introduced in February 25th is that it plans to increase 273 million shares to raise 3 billion 170 million yuan, of which 2 billion yuan will be used to repay interest bearing loans, and the rest will be used to supplement the flow.

In the growing refinancing team, there are also listed companies starting to seize the opportunity to rush to eat.

The 300102.SZ announcement indicates that the core management team has decided to plan for the issue of non-public offering stocks after seriously studying the contents of the new financing regulations. However, the quantity and the issuing plan are not yet certain.

"The issuance of new regulations for refinancing has lowered the threshold for refinancing of listed companies, and is conducive to equity financing." Dry photoelectricity.

However, the problem is that the performance of 2019 has dropped by 247.1%, and the loss is expected to be as high as 264 million 767 thousand and 900 yuan. To this end, the Shenzhen stock exchange calls for the necessity and rationality of refinancing through the combination of the status quo and financing needs of the company.

It is estimated that 300489.SZ, which lost 124 million yuan to 129 million yuan in 2019, is also ready to refinance. However, it has decided to invest all the net proceeds in the industrialization of infrared optics and laser devices. China fly shares will be increased by 18.06 yuan / share by 27 million 225 thousand shares, raising 492 million yuan.

"The conditions for refinancing are relaxed, especially when the gem's profit and debt ratio is higher than 45% for 2 consecutive years, and many companies are eager to try." "A few days ago, the chairman of our company asked me to contact the intermediaries for refinancing," Dong min, a coastal gem company, told the twenty-first Century business reporter.

Guosheng securities research report said, cancel the gem for 2 consecutive years profit and debt ratio is higher than 45% of the conditions, respectively, so that the current gem 797 companies 161 and 550 to meet the issuance conditions, refinancing new regulations will greatly expand the coverage of gem refinancing services.

"A share's experience for so many years is that regulatory policies and so on will be adjusted frequently. If we can get on the train quickly, we will have meat to eat. Once the policy is tightened up, we will suffer a lot from those who wake up." A listed company's actual controller said to the twenty-first Century economic report.

Price difference improves market effect

Listed companies are rushing to plan for refinancing. The most notable is the constantly rising rate of difference.

Second, we can see that the market is very enthusiastic about the technology listed companies with the expectation of refinancing. Wind information statistics showed that as of February 25th, the refinancing listed companies with fixed price increase and stock price difference rate exceeding 100% reached 17.

600416.SH is especially typical.

The announcement shows that Xiang electric shares disclosed plans for the non-public offering of shares in February 19th. It intends to increase 209 million shares by 5.17 yuan / share, and raise 1 billion 81 million yuan to supplement the working capital.

However, the stock price of Hunan Electric Co., Ltd., which did not show a lot of water before the stock market, had begun to react in advance on the first two trading days of the refinancing plan. In February 17th, the stock price rose sharply to 89.82% on the 7 trading day in February 25th. During the period, there were 6 trading boards, which made the price difference between the fixed price increase and the stock price reach 123.6%.

Xiang electric shares, known as electromagnetic ejection and full electric propulsion technology, have the world's advanced level. After losing 1 billion 912 million yuan in 2018, it is expected to continue losing 1 billion 456 million yuan in 2019.

However, the typical character of Xiang electric shares is more than that. Its refinancing is fully subscribed by Xingxiang group, which is under the control of real estate owners. This is also a new feature of the new regulation of refinancing since its landing.

In twenty-first Century, according to the Wind information statistics, the 99 listed companies that adopted the new 80% rules of the refinancing rate and fixed price increase only accounted for at least 9 of the major shareholders or their related parties, while the majority of the institutional investors took part in the subscription or participation in the subscription.

For example, Xingquan fund fully subscribe to pharmaceutical science and technology to set up 650 million yuan for increasing fund-raising, and the investment of Chinese medicine for nine strong organisms (300406.SZ) is used to supplement the 1 billion 200 million yuan fund-raising of floating capital.

"Compared to the previous 90% discount rate, the discount rate of the new regulation 80% of the refinancing is certainly more attractive, and now the technology stocks are generally favored, and the listed companies of refinancing continue to increase, and the enthusiasm of various funds to participate in the fixed increase has naturally increased." A listed broker's investment bank told the economic news reporters twenty-first Century.

And technology stocks are surging, and institutional investors who participate in the refinancing of listed companies have won a lot of book surplus without subscription.

According to the new regulation of refinancing, the pricing mode and lock up period were revised to 80% and 18 months' 600703.SH. The latest revised fixed issue price was 17.56 yuan / share, and its stock price ended at 31.5 yuan / share as of February 25th.

Based on this calculation, the 5 billion and 2 billion yuan forerunner high core and GREE electric appliances (000651.SZ), respectively, are expected to purchase 79.38% yuan.

"Refinancing the subscribed object has a relatively large book surplus, which is a great joy." San an optoelectronics official told the twenty-first Century economic news reporter, "there is a money effect that refinancing is successful. Many listed companies have failed to refinance because of serious price deviating from the fixed price increase. Now this situation is beginning to reverse."

 

  • Related reading

A Shares Deep V Reversal: Fund Managers Staged Major Technology Stocks Are Still Scramble To Raise Focus.

Finance and economics topics
|
2020/2/26 10:06:00
0

Luen Fat Shares (002394):2019 Net Profit 368 Million Decline 6% Sales Revenue Decline

Finance and economics topics
|
2020/2/26 9:42:00
0

Singapore'S Strategy And Post Movement In Pursuit Of Southeast Asian Art Market

Finance and economics topics
|
2020/2/8 8:00:00
18

The First "Fifth Sets Of Standards" Zai Biological Start Stock Market, Science And Technology Board Inclusive Gradually Fall.

Finance and economics topics
|
2020/1/7 12:09:00
1

"A+H" Capital Mode Helps Chang Fei Company Card 5G Commercial Market

Finance and economics topics
|
2020/1/7 12:08:00
2
Read the next article

The Core Price Of Masks Is Skyrocketing: The Old Customers Get A Ton Of 200 Thousand, And The Production Enterprises Say "No More Orders".

Before the outbreak of the new crown pneumonia, the "core" melted cloth price of the respirator was around 18 thousand yuan / ton, and now some of the quotations have been broken up by 200 thousand yuan / ton.