What does the circulating ratio mean 5

Hello, ** Circulating ratio: The total share capital of a listed company is composed of circulating share capital and non-tradable share capital, and its circulating ratio refers to the proportion of tradable share capital of a listed company to its total share capital, for example, the total share capital of a listed company is 100 million shares, and its tradable shares are 80 million shares, then its circulating ratio = 800000000 10000000 100% = 80%.

Among them, the tradable share capital refers to the part of the company's issued share capital that is circulated outside and has not been recovered by the company, and refers to the shares that can be circulated in the secondary market. The larger the circulation ratio of the listed company, the more ** can be traded in the secondary market, the less restricted shares, the more the stock price can reflect the true value of the company, on the contrary, the listed company has more restricted shares, the number of ** that can be traded in the secondary market is less, and the stock price is difficult to reflect the true value of the company.

It is the total share capital that can be freely traded outside.

proportions. Generally, it is 100%, but the share reform has not ended, and some have not.

The proportion of ** in the total share capital traded by listed companies in the secondary market, the expression of "the share reform is not over" said by "LGWorhard" is a bit inappropriate, because even now, when a new share is issued, there will be a large part of the non-public shares that are restricted and temporarily uncirculated.

It is the ratio of outstanding shares to non-tradable shares.

** Proportion of circulation, refers to the ratio of the tradable share capital of a joint-stock company to the total share capital.

Outstanding share capitalIt refers to the part of the company's issued share capital that is circulating outside and has not been recovered by the company, and refers to the shares that can be circulated in the secondary market. Circulating share capital is a very Chinese Chinese term, foreign ** from the first listed is fully circulated, the total share capital is equal to the circulating share capital; And China's ** listing, before the implementation of the equity division reform, (individual or collective or state) corporate shares are not allowed to be listed and circulated, only part of the issuance of ** can be circulated in the secondary market, this part is the so-called circulating share capital, after the implementation of the equity division reform in 2005, the newly listed ** are fully circulated, the past corporate shares can slowly begin to circulate in the secondary market, but there are restrictions on the number and time, this is the restricted tradable shares, because the regulatory authorities are worried about so many ** at once Listing will inevitably lead to the collapse of funds that cannot bear it. Slowly, China's ** will achieve real full circulation, and the total share capital will be equal to the tradable shares.

In the past index calculation, as long as the ** is circulated on the exchange with all rights on the exchange, it is counted as tradable shares, so that whether it is the shares of the company's promoters, state-owned shares or strategic investors, once the right to circulate is obtained, it can be counted as free tradable shares.

Non-tradable sharesColloquial name"Size non", that is, restricted shares, or restricted A shares. Small: i.e. a small portion.

Small non-tradable: that is, a small part of the ** that is prohibited from being listed and circulated (that is, after the share reform, the non-tradable shares that account for a small proportion before the share reform.) If the proportion of restricted tradable shares in the total share capital is less than 5%, it can be circulated after one year of share reform, and after one year, it is not a large-scale sell-off, but a limited sell-off, so as not to cause a big impact on the secondary market.

And a relatively large part of it is Dafei). On the contrary, it is called Dafei (that is, after the share reform, the non-tradable shares that account for a large proportion before the share reform. If the restricted tradable shares account for more than 5% of the total share capital, they can be tradable for more than two years after the share reform, because Dafei is generally the company's major shareholder and strategic investor.

Generally not thrown).

It does not refer to non-tradable shares, i.e., restricted shares, or restricted A shares. Small: i.e. a small portion. Small non-tradable: that is, a small part of the ** that is prohibited from being listed and circulated (that is, after the share reform, the non-tradable shares that account for a small proportion before the share reform.)

The larger the proportion of outstanding shares, the more the stock price reflects the true value of the company, which is the so-called full tradability that we are pursuing now.

The smaller the proportion of outstanding shares, the more large and small non-shareholders hold shares, and the stock price is difficult to reflect the true value of the company. On the one hand, if the stock price is low, Dafei can implement asset injection to obtain more equity by virtue of its absolute controlling position. On the other hand, if the stock price is on the high side, the potential selling pressure is high, and once the liquidity rights are obtained, it is very likely that the stock price will be sold in the secondary market to cash in profits.

According to the regulations, the ** of listed companies is not all circulated, and some of them have a "restricted sale" period, that is, they cannot be circulated temporarily, and they can only be circulated after the specified time. What is the percentage of shares currently outstanding in the total share capital, which can also be said to be the proportion of shares. For example, the recently listed ** Chiphuang, with a total share capital of 100 million and a circulation of 100 million, is 25%.

Circulation ratio, judging how much circulation, how much uncirculated, big non, small non means that there is no circulating shares, big good, small good is just a relative concept, can not say who is good and who is bad; It has a lot to do with the company's performance and industry relations.

The market value of listed companies changes with the change of ****.

In order to avoid the impact on the market, the shares are usually divided into circulation departments and restricted circulation departments when listed companies issue public offerings. The restricted part is also known as "large and small non-tradable shares", which refers to non-tradable shares, that is, restricted shares. According to the relevant regulations, the restricted shares will be gradually lifted until they are fully circulated.

The total market value of a listed company refers to the sum of restricted shares and outstanding shares on the same basis. For listed companies that have achieved full circulation, the circulating market value is equal to the total market value.

On the one hand, shareholders holding restricted shares may cash out, and on the other hand, the circulation is increasing, making the chips more dispersed, which is just a psychological factor for investors in the market. On the one hand, some listed companies have a small share capital, and on the other hand, major shareholders do not have the demand for shares.

Therefore, the market value of a listed company basically reflects the company's fundamentals, and the size of the market value has nothing to do with the risk, but is mainly closely related to the company's development prospects.

The difference between total market capitalization, circulating market capitalization, and total share capital: total market value refers to the total value of total share capital multiplied by the stock price at that time in a specific time. The tradable market value is the total value of tradable shares at that time multiplied by the current stock price.

Total share capital, including the sum of the number of shares before the issuance of new shares and the number of shares newly issued.

2. The significance of the circulating market capitalization.

1. Reflect how much money has been piled up in **. The circulating market value = average stock price * number of outstanding shares, including two aspects.

2. Reflect the market capacity together with the index. Point to money ratio = index circulating market capitalization, that is, how much money can be used to push the stock index up the corresponding number of points.

3. Generally speaking, the circulating market value is large, which is conducive to stability, not easy to speculate, and the circulating market value is small, which does not have much impact on the market and is easy to speculate.

3. Is the larger the circulating market value, the better?

The market value of the circulation is large, and the fluctuation is small, which is generally suitable for medium and long-term operations; The circulating market value is small, and it is generally suitable for operation.

There is no absolute good or bad with a large circulating market capitalization. The most direct meaning of the size of the circulating market value for the main force is the scale of the control fund, so the average strength of the institution is to try to touch the large market capitalization as little as possible, and it is just a paddling when it enters.

But once a powerful institution takes a fancy to the ** with a large market capitalization, can you imagine how much movement they can make with their strength? And this kind of main force often pays more attention to the rules of market-making, as long as they are not greedy or afraid, they can drink soup when they eat meat. Generally speaking, the opportunity to make a market is relatively large, and people or ghosts can pull it up, but the technique is not to leave any room for participation, which is suitable for participation with time and experience.

The recent sharp decline is largely due to the fact that there are a lot of ** non-tradable shares that have been transferred to circulation, so that the ** ticket has a large demand for funds, because the original non-tradable shares are almost very low-cost, and the willingness to sell ** is relatively strong.

Relatively speaking, the ** with a relatively large circulating market value will not have this problem, and the risk will be relatively small, which is a personal understanding.

Of course, the larger the circulation ratio, the better!

Because the distance indirectly reflects the investment sentiment of the market!

It is necessary to combine the actual situation to reach a conclusion. If the circulation is small, it will be easier for the general bookmaker to hold, and the volatility will be relatively large. The circulation is large, and the natural dealer is not easy to hold, and the fluctuation is small.

After all, ** itself also needs funds to impact. However, the key is to look at the first-class material level.

In the market, if investors have little money, for example, it is better to choose small-cap stocks with small tradable shares, because it is easier to realize, and investors with abundant funds are more suitable to choose large tradable stocks.

If the total share capital is large and the non-tradable share capital is small, it is not easy for the market maker to control the market, and the stock is not easy to become a dark horse. On the contrary, if the total share capital is small, and the non-tradable share capital accounts for a relatively large proportion, then it is easy for the market maker to absorb and build a position, which can quickly pull up the stock price and become a dark horse. If there is no intervention of the market maker, the ** fluctuation of the large share capital is smaller than the ** fluctuation of the small share capital.

The total share capital is the total number of shares issued by the joint-stock company, and the tradable share capital may only be a part of it, and for the fully tradable shares, the total share capital = the tradable share capital.

The smaller the proportion of outstanding shares, the greater the holdings, and the greater the selling pressure.

Tradable shares are divided into actual tradable shares and tradable shares with limited sale conditions, and the tradable ratio = the total share capital of actual tradable shares.

In the case of ** without non-tradable shares, tradable shares = total share capital. Among the total share capital of A shares issued by listed companies, the tradable shares with limited sale conditions (which can be tradable if the conditions are met) and the following types of shares are non-tradable or temporarily untradable shares:

1) Long-term shares held by the founders, families and senior managers of the company (2) State-owned shares.

3) Strategic investor shareholding.

4) Freezing of shares.

5) Restricted Employee Stock Ownership.

6) Cross-shareholding.

Less than 100% means that those stocks are idle, but someone holds them, but the trading is restricted, and they cannot be circulated in ** for a specified time.

Tradable shares refer to the listed and tradable **, the total share capital refers to the sum of the tradable shares plus the upper limit of the prohibited tradable shares, and the general shareholding ratio refers to the ratio of the ** held to the total tradable shares, rather than the ratio of the total share capital. So we often go to the top 10 shareholders of outstanding shares. for our investment purposes.

The larger the main position, the more difficult it is, because the ship is difficult to turn around, so there are many main forces who will buy at a high level and attract followers, first trap themselves and **, and then slowly go down, so that ** step by step shock. Hand over your low stacks. After several months of accumulation, the cost was made very low, and it was slowly raised.

Outstanding shares refer to the number of shares of a listed company that can be circulated on the exchange. Its concept is relative to the ** market. Among the tradable shares, they can be divided into A shares, B shares, corporate shares and overseas listed shares according to different market attributes.

Corresponding to the tradable shares, there are also non-tradable shares, and non-tradable shares** mainly refer to the state shares and corporate shares that cannot be listed and circulated temporarily.

In such a situation, I will generally throw it, because most of the situations that occur will be **

It shows that the institution is optimistic about white horse stocks. For example, 600519

But it is also destined to be difficult to rise sharply in a short period of time, because the tour capital will not participate.