What is a stock transfer system? What does stock to equity swap mean?

Share transfer refers to the agreement between the holder and the transferee of the shares, and the holder voluntarily transfers the shares he holds to the transferee with a certain amount of **, and the transferee pays the price. Assignments can also be further subdivided into registered and bearer assignments, paper-based assignments and paperless assignments.

The transfer of shares is achieved through the transfer of **. Transfer refers to the act of the owner giving his or her own holdings to another person, so that the other person becomes a shareholder of the company.

Method of share transfer.

1) Registered **, by the shareholders by endorsement or other ways stipulated by laws and administrative regulations, after the transfer, the company will record the name or title and address of the transferee in the register of shareholders. Within 20 days prior to the convening of the general meeting of shareholders or within 5 days prior to the date on which the company decides to distribute dividends, no change in the register of shareholders specified above shall be registered. However, if the law has other provisions on the registration of changes in the register of shareholders of listed companies, such provisions shall prevail.

2) For the transfer of bearer **, the effect of the transfer occurs after the shareholder delivers the ** to the transferee.

The share transfer system is the abbreviation of the national small and medium-sized enterprise share transfer system, which is a national first-class trading venue approved by the state, and the national small and medium-sized enterprise share transfer system Co., Ltd. is its operation and management agency.

On September 20, 2012, the company was registered and established in the State Administration for Industry and Commerce with a registered capital of 3 billion yuan. Shanghai ** Exchange, Shenzhen ** Exchange, China ** Depository and Clearing Co., Ltd., Shanghai ** Exchange, China Financial ** Exchange, Zhengzhou Commodity Exchange and Dalian Commodity Exchange are the shareholders of the company.

Hello, the National Small and Medium-sized Enterprises Share Transfer System (hereinafter referred to as the "National Equities Exchange and Quotations System", commonly known as "***") is approved by the first law, the third national first trading venue after the Shanghai Stock Exchange and the Shenzhen Stock Exchange, and it is also the first national trading venue operated by the company system in China. The National Equities Exchange and Quotations Co., Ltd. (hereinafter referred to as the "National Equities Exchange and Quotations") is its operating agency, registered in the State Administration for Industry and Commerce on September 20, 2012, and officially inaugurated on January 16, 2013, with a registered capital of 3 billion yuan.

The main functions of the National Equities Exchange and Quotations Company include: providing technical systems and facilities for advanced trading; Formulate and revise the business rules of the national stock transfer system; Accept and review applications for listing and other related businesses, and arrange for eligible companies to be listed; Organize and supervise ** transactions and related activities; supervise listed companies and other information disclosure obligors; supervise the participants of the national stock transfer system such as the sponsoring securities firm; Manage and publish information related to the National Equities Exchange and Quotations System; Other functions approved by the China Securities Regulatory Commission. The company has established a party committee, a shareholders' meeting, a board of directors, a board of supervisors and a management team, forming a governance structure of "three committees and one layer" under the leadership of the party committee, with 16 departments.

The national small and medium-sized enterprise share transfer system was officially inaugurated and operated, and the national small and medium-sized enterprise share transfer system is a national first-class trading venue approved by the state, and the national small and medium-sized enterprise share transfer system Co., Ltd. is its operation and management agency.

Fangda Special Steel. 10 shares to 9 shares means that after the equity ex-rights date, if you have 10 shares in your hand, you will be given another 9 shares, becoming 19 shares, and the corresponding stock price will be divided after the ex-rights if the ** is 10 yuan, then after the ex-rights, it will be divided and become yuan.

Share transfer is a form of dividends of listed companies, which is a way to distribute dividends by converting shares from capital reserves.

Advantages: The dividends through the transfer of shares only need the accounting subjects of the borrowing company, which is favored by listed companies because of its simple operation and low cost. In addition, the conversion of shares to achieve the best income can achieve the purpose of tax avoidance, and the effect is often better than cash dividends in the active secondary market.

Generally speaking, shareholders can realize the right to dividends in three forms:

1. Cash distribution based on the profits of the listed company in the current year;

2. Distribute new shares based on the company's profits for the current year;

3. Convert the company's surplus reserve fund into share capital.

The transfer of shares refers to the way in which the company adopts the method of transferring shares from the capital reserve or surplus reserve to distribute dividends, and the conversion of share capital does not change the rights and interests of shareholders, but increases the scale of Huihu's share capital.

The conversion of share capital refers to the conversion of capital reserve or surplus reserve into share capital, which does not change the rights and interests of shareholders, but increases the scale of share capital, so the objective result is similar to that of bonus shares. The essential difference between the conversion of share capital and the bonus share is that the bonus stock comes from the annual after-tax profit of the company's book, and only in the case of the company's surplus, can the bonus share be given to the shareholders, while the conversion of share capital comes from the capital reserve, which can not be limited by the amount and time of the company's distributable profits in the current year, as long as the capital reserve on the company's books is reduced and the corresponding registered capital can be increased.

Therefore, in a strict sense, the conversion of share capital is not really a return on dividends to shareholders.

In terms of dividends and dividends after the year-end (mid-year) settlement of the listed company, the listed company distributes a part of the profits to the shareholders as dividends through the number of shares held by the shareholders after the settlement to become dividends.

Among them, there are three ways to pay dividends:

1. Cash distribution: The company's undistributed profits are distributed in cash.

2. Shares: The company's undistributed profits are distributed in the form of dividends.

3. Share transfer: The company's capital reserve fund is converted into shares according to equity.

In fact, the transfer of shares and the delivery of shares are a form of distribution of dividends by listed companies, such as "10 shares for 2 shares" and "10 shares for 12 shares" written in the announcement, that is, the original 10 shares become 12 shares, which feels the same, but in essence, there is an essential difference between the two.

The difference between a share transfer and a share gift.

01. Sending shares is essentially the solidification of retained profits and the capitalization of the draft, on the surface, after sending shares, the number of shares held by shareholders has increased as a result, in fact, the equity share and value of shareholders in the company have not changed, for example, you originally owned 200 shares worth 200 yuan, a total of 400 shares of 400 yuan, after you get the shares, you have 400 shares worth 200 yuan, a total of 800 shares of 400 yuan.

The transfer of shares is a method of dividends by converting shares from the capital reserve, and the share and value of shareholders in the company have increased.

02. Giving shares is to use the profits of listed companies to convert into share capital, and when they reach shareholders, they are regarded as a way to distribute profits, so they must pay relevant taxes and fees, and 10 shares per state to 1 share are equivalent to the taxes to be paid per share.

The transfer of shares is carried out by using the capital reserve of the listed company to increase, which is not a profit, so there is no need to pay relevant taxes and fees.

Share transfer is a kind of welfare, but also a way of dividends, the meaning of which is that the company uses the provident fund to convert into share capital.

**is a kind of valuable**, is a joint-stock company to raise capital issued to the investor of the share certificate, on behalf of its holder (that is, shareholders) ownership of the joint-stock company, the purchase of ** is also a part of the purchase of the company's business, can grow and develop together with the enterprise. This ownership is a comprehensive right, such as participation in a general meeting of shareholders.

Voting, participating in the company's major decisions, receiving dividends or sharing the dividend difference, etc., but also share the risks caused by the company's operational errors. Obtaining recurring income is one of the important reasons for investors to buy**, and dividends are the main part of investors' recurring income**.

Dividends and dividends refer to the process of dividends and dividends distributed by listed companies to their shareholders, and it is also the process by which shareholders realize their own rights and interests. Dividends are mainly paid in the form of cash dividends.

and dividends.

Share transfer refers to the agreement reached between the holder of shares and the transferee, the holder voluntarily transfers his shares to the transferee at a certain **, and the transferee pays the price. The transfer of shares can be further divided into registered shares and anonymous shares, paper shares and paperless shares.

The transfer of shares is achieved through the transfer of shares. Transfer refers to the act of the owner giving his or her own to another person to make the other person a shareholder of the company.

The transfer of shares is model.

1) Registered ** shall be transferred by shareholders by endorsement or other methods prescribed by laws and administrative regulations. After the transfer, the company will record the name and address of the transferee in the register of shareholders. Within 20 days before the convening of the general meeting of shareholders or within 5 days before the date of the company's decision on the distribution of dividends, the registration of the above-mentioned provisions of the register of shareholders shall not be changed.

However, if the law has other provisions on the change of the register of shareholders of a listed company, such provisions shall prevail.

2) The transfer of bearer ** takes effect after the shareholder delivers ** to the transferee.

The full name of the stock transfer system is the national small and medium-sized enterprise share transfer system, that is, the three board market, which is a national first-class trading venue approved by the company, and the stock transfer company refers to the company listed and traded in the stock transfer system.

Share transfer is a dividend method of listed companies, for example, **10 to 5 is that investors can increase 5 shares for every 10 shares they hold, that is, when they hold 100 shares, they can get 50 shares, and such ** share transfer is not subject to income tax. It should be noted that since the transfer shares are less than one lot, the part that is less than one lot can be sold at one time when the transaction is carried out, and there is no limit on the number of shares. Listed companies will issue announcements in advance when they pay dividends, and investors should pay attention to the public

The significance of the share transfer is that the company converts the provident fund into share capital (1 yuan per share to increase the provident fund is equivalent to 1 share per share), and such a ** share transfer is not subject to income tax. The ** transaction of the stock transfer is basically the same as the ** trading, and the main features are as follows:

Clause. 1. The part that is less than one lot due to the transfer of shares can be sold at one time, and there is no limit on the number of shares.

Clause. Second, in the **buy** is in the lot, 1 hand = 100 shares, the purpose is to improve the liquidity of **, the transfer part can be an exception, the transaction can be based on the actual number of transactions.

Clause. 3. When the ** after the transfer of shares is sold, it is not subject to unit restrictions.

1. The stock transfer system can be purchased with an account. However, the premise is to open the trading authority of the stock transfer. At present, the stock transfer system is mainly divided into three levels, namely the basic layer, the innovation layer and the selection layer, and the opening of trading authority requires more than two years of investment experience, and the average daily assets of the account in the first 10 trading days of each level are not less than 2 million 1.5 million 1 million yuan.

Regimental destruction. 2. For the listing of new shares in the stock transfer system. Investors can also participate in the investment in the way of the first or the offline subscription, the threshold of the offline subscription share transfer system** is higher, and investors need to have assets of 10 million yuan to open an account.

3. In fact, the stock transfer system is what we often call ***. China implements a multi-level capital market system, and the first board has the main board, the growth enterprise board, the science and technology innovation board, etc.

Share transfer, as the name suggests, that is, the transfer of share capital, refers to the company's adoption of the method of transferring shares from the capital reserve or surplus reserve to distribute dividends, and the transfer of share capital does not change the rights and interests of shareholders, but increases the size of the share capital. The positive ** itself comes from the capital reserve, and he can not be limited by the amount of profit difference that the company can distribute this year and the time limit, and only need to reduce the capital reserve on the company's books and increase the corresponding registered capital to the shareholders**.

Accounting treatment of fictitious capital reserve - conversion of equity premium to share capital:

Borrow: Capital Reserve - Equity Premium, Credit: Equity Capital.

The conversion of capital reserve into capital shall not be regarded as the dividend and bonus income of the investor enterprise, and the investor enterprise shall not increase the tax basis of the long-term investment. Therefore, individual shareholders do not pay individual income tax, and corporate shareholders do not pay corporate income tax.

Accounting treatment of surplus to share capital:

Borrow: surplus reserve, Credit: paid-in capital.

Although only the structure of shareholders' equity changes, the surplus reserve fund withdrawn from the after-tax profit is used to increase the capital, but in terms of taxation, it should be treated as profit distribution and capital increase, and the conversion of surplus reserve into capital is a profit distribution behavior. When a joint-stock enterprise converts its surplus reserve into capital, it shall be regarded as the distribution of bonus shares in the nature of dividends and bonuses with the surplus reserve fund, and the amount of bonus shares obtained by an individual shall be taxed on individual shareholders and shall be taxed as personal income. Non-resident enterprises whose shareholders are resident enterprises or non-resident enterprises that have established institutions or places in China are exempt from paying enterprise income tax in accordance with the regulations.

Xingrui Technology (831816) agreed** to be listed on the National Equities Exchange and Quotations (NEEQ).

It is this enterprise that allows the transfer of the company on the list. Transfer system.