The fifth anniversary of the hottest share reform

2022-08-03
  • Detail

The fifth anniversary of the share reform Sany again attracted attention

introduction: on June 10, the fifth anniversary of Sany's share trading reform. On this day, the stock price of Sany rose against the market. On this day five years ago, Sany Heavy Industry successfully passed the consideration plan of sending 3.5 shares and 8 yuan in cash for every 10 shares with a high approval rate of 93.44%, which fired the first shot of China's stock reform and quickly

June 10 marks the fifth anniversary of Sany's share trading reform. On this day, the stock price of Sany rose against the market

on this day five years ago, Sany's consideration scheme of "giving 3.5 shares and paying 8 yuan in cash for every 10 shares" was successfully passed with a high approval rate of 93.44%, which fired the first shot in China's share reform and rapidly grew into an international large enterprise with a market value of more than 54 billion yuan by the end of 2009. Today, the vigorous split share structure reform initiated by Sany Heavy Industry has gone further and further, but the profound changes it has brought to China's securities market are deeply affecting the continuous innovation and promotion of market means

China Securities Journal

the five-year reform of the share reform gave birth to Xintiandi

. The number of stock accounts has increased from 72.53 million five years ago to 144.79 million today, which has just doubled. Securities investment has fallen by 12.3% year-on-year; The number of listed companies has increased from 1387 five years ago to 1831 today. A large number of large cap blue chip companies with "medium" prefix have been listed, and the stock market has truly become a "barometer" of the economy; Five years ago, the total market value of the two cities was 3.9 trillion yuan and the circulation market value was only 1.6 trillion yuan. Now, the total market value and circulation market value of the two cities have rapidly increased to 23 trillion yuan and 15 trillion yuan respectively. The stock market has become an important source of property income for the people

"the first share of the share reform" Sany Heavy Industry has grown from a market value of more than 5 billion yuan at the beginning of the share reform to a leading concrete machinery enterprise with a market value of 54billion yuan at the end of 2009. Sany Heavy Industry burst out its business vitality through the share reform, making investors earn a lot; Through the share reform, China's capital market has opened an era of full circulation and stridden towards becoming a capital power

the significance of the completion of the share reform lies not only in solving the problems left over by history, but also in accumulating experience for other reforms and institutional innovation in the capital market, and creating suitable valve springs and plunger springs; The electro-hydraulic servo spring fatigue testing machine is expensive. Without the shackles of history, a healthy and dynamic emerging capital market will stand in the east of the world

the post share reform era of Shanghai Securities News is having a profound impact on capital innovation.

with the basic completion of the split share structure reform, the market mechanism under the full circulation condition is becoming more and more perfect, and the initial results of the new share issuance system reform, the primary market pricing mechanism is more market-oriented and the valuation is more reasonable. Under these conditions, technological innovation measures have been introduced one after another, the small and medium-sized board and the growth enterprise board have emerged, the international board is about to emerge, and a new mode of private placement has emerged... The share reform has enabled innovation in the securities market everywhere

as the cornerstone of China's securities market, listed companies have made considerable development and improvement in the post split share structure era. Through the share trading reform, a number of struggling listed companies avoided the non-level amplification value of the experimental machine due to vibration in the process of use with their expectable shares, received financial support again, and then gained a new life, completed the transformation from "crow to Phoenix", and some high performing listed companies also achieved an amazing leap in industrial upgrading. Sany Heavy Industry, which "dare to be the first in the world" to eat the first crab of the share reform, grasped this once-in-a-lifetime historical opportunity, and gave full play to the market wisdom with its exploration spirit and innovative thinking of the share reform. From a general listed company with a market value of only more than 5 billion yuan at that time, it became an international large enterprise at the forefront of the world's construction machinery industry

securities

value creation and value operation drive market value management

China's securities market has lasted 20 years, but the market value management of listed companies started late and originated from the split share structure reform. Sany Heavy Industry, the "first share of share reform", has thus become the first A-share listed company in China to practice market value management

"we have long recognized the importance of market capitalization management." Zhaoxiangzhang, director and senior vice president of Sany Heavy Industry, said in an interview with this newspaper: "we regard market value management as a management process for another market and another product. To develop by relying on the accumulation of the industrial market itself is to walk, while the capital market is a higher-level market. To develop by relying on the capital market is to run or even drive fast. The capital market is the booster for the development of Sany Heavy Industry."

the main business is the foundation of listed companies, and value creation is the foundation and essence of market value management. After the listing, Sany Heavy Industry's sales revenue and profit have advanced at an average annual growth rate of more than 50%, and the enterprise has changed from a simple leading enterprise of concrete machinery to a comprehensive and comprehensive manufacturer of construction machinery. However, in an emerging and transitional market such as China, the reflection from the product market to the capital market is sometimes distorted. Therefore, another important aspect of market value management is value management

value management is the key to market value management, which can effectively restore the real picture of the product market and eliminate the lag between the capital market and the product market. Sany's value management is mainly reflected in the accurate understanding of macro policies, the capital operation with long sleeves, the painstaking management of brand image, the correct guidance of public opinion, the timely and fair disclosure of information, and the good communication with investors. Sany Heavy Industry has formed a harmonious relationship of benign interaction with shareholders

it is the market value management driven by value creation and value management that makes Sany realize the benign interaction between the real economy and the virtual economy, and solve the problem of the dislocation between the real economy and the virtual economy

Copyright © 2011 JIN SHI