The secondary offering is good or bad for brokerage stocks

To put it bluntly, the secondary offering mechanism is a wholesale and retail mechanism.

Why the secondary sale is a substantial downside, please see:

1. The introduction of secondary sales still needs to be in the secondary market. And it is possible to accelerate the move to the secondary market**. Because, the original size can only be reduced by 1 per month, and it must be forecast in the medium and annual reports, therefore, the size of the non-** must have a considerable amount of time.

Your brokerage company to the size of the non-approved **, to the secondary market ** must facilitate the original regulations, otherwise the brokerage will not be able to afford to do such a transaction. In this way, the size of the non-** may be accelerated, rather than slowed down, and may be more concentrated.

2. The size of the non-wholesale to the brokerage must have a significant discount, and the confidence of the secondary market holders is a major blow!

3. Where the wholesale to the brokerage, the same trend in the secondary market will be affected.

4. Now the small and medium-sized enterprises in the secondary market are losing a lot, talking? , talking about stability maintenance, small and medium-sized ** has been repeatedly. A major ecological imbalance has already occurred in the market!

China** can only deceive small and medium-sized **, try to ask the brokerage wholesale **, sell to whom? Who will come in the block market?

5. There were a few large transactions some time ago, and there was no sound after that, indicating that there was no undertaking in this market.

To sum up, the secondary sale is negative, not positive!

Like the three small yang star lines a few days ago, what actually fell was just a pull back after opening low, and it was actually three small crows.

Therefore, the back is sharply **.

Today's secondary sale is also substantially bearish, I believe that after today's Yiyang index, Friday, at the latest next week.

One, two**will**!

Don't cherish this hard-won ** reduction, let the dealer lift a stone and shoot yourself in the foot!

As soon as this good comes out, it is good and bad.

Isn't that a lot of pressure before the execution?

Hehe, most people are biased. In fact, the secondary sale is a great benefit to the brokerage category! There should be a spectrum for the second sale, but how to implement it in the end is all in the hands of the state, so this information is basically true.

It is good for securities firms, and the secondary offering is a remedy for the stock reform, and although it is detrimental to the credibility of the state, the starting point of everything in China where the national interests are paramount, is the national interest, and it is very likely that it will be introduced.

The reform of the division of shares has already paid consideration to the tradable shares, so as to obtain the right to circulate, and any regulations issued by the state to restrict their circulation are a reversal and will seriously jeopardize the credibility of the state. Whether it is a secondary sale or something, it cannot be the right to circulate now, but only regulate the way to sell it.

The brokerage sector is hot these days.

Do you say it's good or bad!!

Now the state will not come up with a negative policy.

Because now ** has fallen too badly.

It is good and can increase business volume; This news is true, and CCTV2's "Economic Information Network" has confirmed this news last night, but the specific details need to be studied again.

It should be corrected that it should be "good is bad when it comes out".

Because the good news of a company has not come out when it is not coming out, so that the news is in a hazy state, at this time, **the** with the addition of investors**. By the time the news really comes out, it has already been a big cut, and at this time, profitable investors want to take profits, so it will. Of course, there are also those who continue to **, and this situation is that the investors who continue to ** are greater than the investors who sell.

As a result, a lot of news officially came out**It began**.

Depending on what stock you are buying, pay attention to the intention of the market maker.

1. A company intends to issue short-term financing bonds, which can be regarded as negative in the short term. If financing generates new profit growth points, it will become the subject of institutional speculation. Therefore, financing should be viewed dialectically.

2. Short-term financing bonds refer to valuable bonds issued by enterprises with legal personality in the inter-bank bond market in accordance with the prescribed conditions and procedures and agreed to repay the principal and interest within a certain period of time.

3. Short-term financing bills are unsecured short-term promissory notes issued by enterprises. In China, short-term financing bonds refer to the valuable financing methods issued and traded in the inter-bank bond market by enterprises in accordance with the conditions and procedures of the Measures for the Administration of Debt Financing Instruments of Non-financial Enterprises in the Inter-bank Bond Market and agreed to repay the principal and interest within a certain period of time, and are direct financing methods for enterprises to raise short-term (within one year).

1. According to the classification of issuance methods, short-term financing bonds can be divided into financing bonds sold by brokers and financing bonds sold directly.

2. According to the different classifications of issuers, short-term financing bonds can be divided into financing bonds of financial enterprises and financing bonds of non-financial enterprises.

3. According to the scope of issuance and circulation of financing bonds, short-term financing bonds can be divided into domestic financing bonds and international financing bonds.

IV. Procedures for Issuance of Short-term Financing Bonds:

The company makes the decision to issue short-term financing bonds;

Handling the credit rating of the issuance of short-term financing bonds;

Submit an application for issuance to the relevant approval authority;

The examination and approval authority reviews and approves the application submitted by the enterprise;

Formal issuance of short-term financing bonds to obtain funds.

If it is invested in projects with low risk and high returns, it will help the performance of listed companies if used properly.

If the use of the raised funds is improper, it will have a negative impact on the operation of the listed company.

In addition, the funds raised through the issuance of short-term financing bonds are subject to interest, which correspondingly increases the financial costs of listed companies.

The short-term small bearish, because now everyone is very disgusted with similar debt conversion and additional issuance. This is good in the medium term, as the purpose of issuing bonds is to finance investments in new projects. The long-term bearish, because the convertible bond increased the equity capital after the transfer, diluted the performance, and was not convenient for the main operation.

It's good to be able to send 2 pieces.

Of course, it's a good !!

Sending money is the best, which means that the company is doing well and is willing to share profits with minority shareholders!

You're developed, and you're still struggling with something.

Hello, absolutely good news.

A total of 200 yuan**, now score 50 to buy private placement bonds, there is still 150 yuan. The market is running out of money again.

Hello, convertible bonds, for ** is a more free increase in the number of financial products, which can be issued half a year after the bond in any trading day according to the agreed proportion of the company's **. So is the issuance of convertible bonds good or bad? The following content is for informational purposes only and does not constitute any investment advice.

First, the issuance of convertible bonds is good.

The issuance of convertible bonds by a company is a financing method for listed companies, which is generally an effective measure taken by the company with good development projects and no funds for the time being.

It is also an option for the majority of investors, who can hold bonds and obtain higher interest; It can also be converted into ** to share the company's development results. It should be good! Of course, it has a certain role in diverting funds.

1. It must be a good thing for major shareholders, and it is easy to do things only when there is money;

2. Whether it is good for small and medium-sized shareholders should be treated differently, if it can produce good benefits, it is a good thing, otherwise it is a bad thing. But in general, the market is understood as positive. Generally, the stock price will be **, ** is a high probability event.

Second, it cannot be generalized.

1. Look at the type of bond, convertible bonds, after the depreciation of shares, will dilute the performance per share, which has a certain negative effect, especially when the amount is very large. But at the same time, we should also see the positive side, if the project efficiency of the convertible bond issuance investment is very good, it is also very good. Overall Rating:

Neutral bearish. 2. Look at whether the projects invested in corporate bonds can bring considerable benefits. If the investment project can definitely bring great economic benefits, it is good! For example, the issuance of bonds and the issuance of new shares are used to acquire gold mines, and the trend of a strong trend will inevitably bring the company a sustained and higher expected annualized return, which is good.

Looking at the comparison of the expected annualized interest rate of the benefit and the interest on the bond, it is much higher.

3. Bonds are better than additional issuances. The advantage of additional issuance is to increase the provident fund, but the disadvantage is that the share capital has increased, and the number of participants in the distribution of benefits has also increased. If the benefits of the investment project are uncertain, or the industry trend is uncertain or even bad, you should be especially careful, because it is possible that the bond issuance and the issuance of new shares will drag the company to death, which is negative.

In short, the impact of the issuance of bonds by listed companies on the first is multifaceted and must be viewed rationally.

Risk Disclosure: This information does not constitute any investment advice, and investors should not use such information to replace their independent judgment or make decisions based solely on such information, does not constitute any buying and selling operations, and does not guarantee any returns. If you are doing it yourself, please pay attention to ** control and risk control.

The period for conversion to ** is different. Exchangeable corporate bonds can only be exchanged for pre-exchange after 12 months from the date of the end of the issuance**, and it is not yet clear whether it is a European-style or Bermuda-style share exchange; Convertible corporate bonds can be converted into companies after six months from the date of issuance closes**, and in reality, convertible bonds are Bermuda-style equity conversions, i.e. they can be converted into shares on any trading day after six months of issuance.

The downward correction of the conversion price is different. Exchangeable bonds do not have a requirement to downwardly amend the conversion**; Convertible bonds can revise the conversion price downwards when certain conditions are met.

This is bearish, and this is a simple way of saying financing.

It can be seen as negative or positive, and its main impact can be divided into the following two aspects:

1.Exchangeable bonds can provide issuers with the opportunity to obtain low-cost financing. Since bonds also give the holder a call option on the underlying **, the issue interest rate is usually lower than that of other fixed income products with comparable credit ratings.

Generally speaking, the conversion price of exchangeable bonds is higher than the current market price, so exchangeable bonds effectively provide the issuer with the opportunity to pay a premium subsidiary**. For example, if the parent company wants to transfer 5% of its common stock in a subsidiary in exchange for cash, but the current price is low and the stock price is low, by issuing exchangeable bonds, it can raise the required funds at a lower interest rate on the one hand, and sell the common shares of its subsidiary at a certain premium rate on the other.

Compared with convertible bonds, exchangeable bonds also have the advantage of risk diversification, which makes exchangeable bonds more likely to be favored by investors when they are issued. Since the issuer of the bond and the issuer of the subject matter of the conversion are different, there is no direct relationship between the value of the bond and the value of the bond. A decline in the performance or deterioration of the financial condition of the bond issuer does not lead to a decrease in the value of the bond or the common stock at the same time, especially when the bond issuer and the issuer are dispersed in two different industries, and the risk for investors is more diversified.

Due to the imperfection of the market and the asymmetry of information, the characteristics of risk diversification can make the value of exchangeable bonds significantly higher than the value of convertible bonds, all other things being equal.

Compared with the issuance of ordinary corporate bonds, because the exchangeable bonds contain ** options, the expected principal repayment pressure is less than that of ordinary bonds, and the company's cash flow position is generally not affected when the bond matures, so it can reduce the financial risk of the issuing company. In mature capital markets, exchangeable bonds are more likely to be split than convertible bonds, i.e. the embedded warrants are separated from the bonds and used as separate trading instruments**.

2.The issuance of exchangeable bonds may lead to a change in the nature of the shareholders of the ** issuer of the target of the transfer, thereby affecting the company's operation. For example, if the parent company has a strong desire to go to the listed subsidiary** held by the original parent company, the parent company may issue a large amount of exchangeable bonds, so that the shareholders of the subsidiary will become dispersed after the completion of the share transfer, and even affect the operation of the subsidiary.

Exchangeable bonds are more complex than convertible bonds, so the design of the issuance plan is also more complex, requiring investors to have more professional investment and analysis skills.

Short-term positive, long-term concern.

It is good for the company's operation, and the cost of issuing convertible bonds is lower than the cost of loans.