lifted pressure before and after July

On July 10, 2009, Guilin sanjin (002275) (002275, closed at $ 14.16) since its IPO, Shanghai and Shenzhen a-share markets through IPO Trojan "money" amounting to $ 933.8 billion. Sharply in number and market capitalization of listed companies in the process of expansion, are worse in the next few years will also face more than $ 5 trillion worth of restricted shares lifted！ It is worth noting is that theoretically shares in 2009, 2010 age release size 3.76 trillion yuan, respectively, $ 3.94 trillion, but the actual pressure of restricted shares may only be $ 510 billion, $ 590 billion. 2009 recovery since the IPO, shares only have evolved together over $ 5 trillion size of the dammed Lake. While, Although this year limited unit release reduction of size and pressure had eased, but in the never-ending IPO "money" rich after 2012 restricted shares lifted pressures will continue to rise, ban in 2013 or scale up to $ 2.17 trillion. Review of Ban Chao in September dip "the size of non-lifting of" underweight keeps incomplete statistics, 2008Year having entered ban 15.83% restricted shares of circulation, with size of non-lifting of the restricted shares per cent to about 50%; 2009 38.62% limited unit into the lifting circulation, with size of non-lifting of per cent respectively and 80% about 2010 45.55% limited unit into the lifting circulation, with size of non-lifting of per cent respectively 95% And about 5%. On the whole, over the past 3 years of limited release unit could fetch about $ 2.23 trillion, $ 5.45 trillion and $, render the situation gradually broke out. And that will direct the a-share market formed a large "blood" effect, and also caused a certain degree of impact on investor confidence. Finance meeting statistics, this year's a-sharesCumulative total of 749 listed companies market 198.261 billion shares of restricted release shares listed and commuted down these lifted shares of the market capitalisation of $ 2.45 trillion. It is worth mentioning that, compared to 2010 lifted share, 2011 a total of 198.261 billion shares lifted shares can be described as "a piece of cake". At the same time, solutionsBanning market value is less than the $ 5.7 trillion in 2010, 56.95%, impact on the a-share market slowed considerably. However, blood restricted more than the a-share market in the face of fierce deluge shares after washing to temporarily relieve, scale of restricted shares lifted in September this year has been reduced to $ 46.819 billion. According to the giant spirit statistics, restricted shares lifted this year peak flood tideIn March, has emerged, fewer shanahi Trojan 131 restricted stocks lifted the two cities, release number as 2.444 million shares lifted a market capitalisation of 364.239 billion yuan. However, restricted shares lifted from April began to shrink, although in August rebounded to $ 211.428 billion, but the collapse in September to $ 46.819 billion. It is obvious that restricted sharesRelease the pressure eased. Since October, shanahi and restricted shares lifted per cent from the size appears to pick up the two cities, and in November, rising to over $ 100 billion in December, will be up to 166.139 billion yuan. Incomplete statistics, as of October 31, 2011, Shanghai and Shenzhen stock markets this year a total of 291 listed company limitedStock reduction, reduction of total number 601 times, reduced number of shares total 4.629 billion shares, reduction of the amount of 61.17 billion yuan. This year, restricted shares as at October 31 encounter 5 stocks with the most cash respectively, haitong securities (600,837) (600,837, closed at $ 8.03), Sino-Thai Chemistry (002092) (002092, closed at $ 9.2), ZTE Corporation (000063, closed at $ 18.45), aerospace, mechanical and electrical (600,151) (600,151, closed at $ 8.39) and gorgeous family (600,503) (600,503, closed at $ 8.73). According to the finance meeting information and statistics, "small non-" reduction of this yearSignificantly accelerate, where typical case is the huayi brothers (300,027). On May 6, 2011, MA, Yu Feng, South of spring, highfolk, Wang Yulian through reduction of big deals, respectively. Limited in 291 's stake in listed companies the old republic power leveling, reducing the proportion of the total share capital and over 10% of listed companies to reach 12. At the same time, for various reasonsShareholder reduction nor small. Struggle in *ST suspending edge, looking forward to restructuring transition Chang nine (nine, closed at $ 15.18 before), from September 14 to encounter substantial shareholder Chang group relief cash 35.64 million shares. In addition, similarly facing restructuring pressures Toulon shares (600,696) (60,0696, closing price of $ 9.81), also frequently encounter since the recent generous cash in the major shareholders. Among them, from April 7 to May 18 cumulative cash 17.77 million shares between May 26 and again cashed 17.03 million shares after continuous cash 17.03 million shares in September, again in November-intensive cash 29.0283 million shares. Through continuousAfter the reduction, is major shareholder Hong Kong Toulon Toulon shares stake only to 11.75%. Is "blood machine" rumbling motor release pressure reduction side of the market in the four quarter IPO financing continue, but on the other side is characterized by limited stocks from the market, "blood". Changes in the limited amount of shares in the fourth quarter of this year, to a large extent depend on the trend of the a-share marketMarket or face limited unit on second round of the "blood". Shares experience in the 2010 period after the release of big waves, 2011 share restricted stocks lifted the market pressures have eased. In the absence of "the size of non-lifting of" wild gunfire after frying, the a-share market does not "never", after after several struggles, the market remains sluggish. Release cashNumerous despite the market downturn, but still cannot stop the reduction of shareholders ' boom. According to the giant spirit statistics show, October 30, 2010, one of the first gem 28 stocks since the release of the original unit, the annual reduction of more than 120 original shareholders notice, reduction of holding up to 332 million units, mainly original shareholders cashed amount nearly 10 billion yuan. Compared to invasiveReduction of madness of the original shareholders of the company, small shares of the IPO listing after the restart, the reducing power of the original shareholders were relatively small. In addition to the launch of the new shares, "the older generation of" Junior stocks reduction this year has also been a number of original shareholders, the cumulative reduction of more than 247 million shares. The daily economic news reporter statistics found that while the market lifted under pressureNot big, but many stocks are still being "the size of non-lifting of" substantial reduction, most go to the market shares after the IPO is reset. Many listed shares of one year, after first placing-agency unit after the flight, and were sold by the original shareholders and ruthless, double reduction of pressure gather. Pre-IPO stake in advance, the goal is to get IPO issue after the success of huge profits. WhileAs soon as the pitcher in the IPO of restricted shares lifted, reduction of their enthusiasm will be very expensive, and most will choose to take profits. According to statistics, the current reduction of many second board stocks made a notice, notice its hands of original shareholders to reduce shareholdings, reduction of total amount reached 105 million units, reducing cash rates are about $ 2.826 billion. The reduction of both companies, there is a reduction of people,In particular there is no lack of reduction of executives. Reduction of shareholders ' most ferocious was among the first to board the GEM's huayi brothers (300,027, closed at $ 18.28), 5 shareholders minus your stake up to 34.65 million shares, shareholders accounted for about 7.8% of the company's total share capital reduction, which now stands at a total of $ 770 million. In addition, the reduction of small stocks have also been shareholders this year selling。 Lifting of pressure head, share prices of these stocks to the up. Everywhere is lifted now the trap, the a-share market in downward trend has not changed, face struggling share price, investors can be called "step by step jingxin". Created to decrease "to riches myth" release coming out of the limited unit does something funky. PE and VC, executives as well as the original shareholders IPO succeeds, as long as or longer or shorter restricted periods expires, hands can by trading equity market into real money. Extremely low cost, eventually return for several or even dozens of times times the return to riches myth and so do the, repeatedly on the a-share markets staged never ends. Some joy to some. As long as people are rich, it follows that some people secretly./ This year 152.6 million agency placing stocks lifted the same day, was heavy selling by shareholding institutions, these "size of non-lifting of" stake cost is very cheap. Jiaoda onlly (600,530) (600,530, closed at $ 9.15) as an example, 67.6 million shares held by the Societe Generale securities (601,377) (601,377, closed at $ 11.1)Shares initial investment cost is only $ 78 million, equivalent to $ 1.15 per share. However, at current market prices, jiaoda onlly on the industrial securities investment value added nearly 10 times, but shares in Societe Generale stock fell but can 7.07%. However, Societe Generale securities of small and medium shareholder's nightmare is not over yet. On September 30 this year, the market is immersed in the joy of welcoming the national day holidayIn the atmosphere, Societe Generale securities issued a restricted shares lifted informational bulletins, turn on the journey of a shares. Shares plunge on the day 6.88%, fell below the early platforms. After October 10, xingye Securities Investor fear remains the same, again fell 5.53%. In addition, on June 13, ZTE (000063, closed at 18.4$ 5) controlling shareholder of Shenzhen zhongxing new communications equipment limited reduction of 48.495 million shares, reduction of the average price of $ 25.88, totals about $ 1.246 billion, reduced number of shares total share capital of 1.69%. After the reduction, zhongxing new ZTE sell unlimited shares still held 881,826,620 shares 30.76% per cent of the total share capital. Reduction under the tide,ZTE's shares on March 17 this year after record $ 34.16 high began to decline in a row, minimum and briefly fell to $ 25.25, zhongxing new ZTE share price decline in a row was "fueling" underweight equities; and the majority of minority shareholders are seeing share price changinghis can do. Profits with bowl full, side lose heart. In December, usherLift ban on flood peak this year statistics show that listed companies limited lifting of 33.051 billion units in the fourth quarter of this year, lifted the market value (at current latest closing price) at $ 299.087 billion, lowest for the four quarters of this year. To 57.825 billion shares lifted shares in the first quarter of this year ranked highest, were flat in the second and third quarter, lifting the number 470 per cent. The first three quarters of this year, Shanghai and Shenzhen-listed shares of up to 234, starting fund-raising of nearly 230 billion yuan. Which shows that the "size of non-lifting of the" ban, compared with the IPO and the expansion of additional, it is an incalculable "pumps". Plagued by internal and external factors of the fourth quarter of this year, is expected to be lifted and the reduction of pressure, the stock market remains difficultWords easily. Last quarter lifted peak appears in December, total ban 16.459 billion shares. From the perspective of lifted the number, Shanghai Electric (601,727, closing price $ 5.89), BOE a (000725, closing price of $ 2.07), Southern Airlines (600,029, closing price of $ 5.68), Shanxi securities (002500) (002500, closed at $ 8.02), Cedar real estate (600,657) (600,657, closed at $ 4.52) and Huaneng Power International (600,011) (600,011, closed at $ 4.84) amount of restricted shares lifted 6 companies and more than 1 billion shares. On December 5, Shanghai Electric before issuing shares restricted sharesLifting 7.409 billion shares to yesterday's closing price estimation, lifted a market capitalisation of 47.195 billion yuan. The industry believes that if the poor performance of listed companies or Overvalued, was now more likely. And in the future if economic data and no new policy expected to benefit, weak market rebound will lead to the shareholder wishes cash again. Only when the share price of SuperAfter the fall, the industrial capital will stop killing fallen, but turned to outperform stocks. But the current stock market run, still focuses only on some varieties of low price and low valuations, and the relatively limited number of holdings. Therefore, it is chance of lifting unit is less than the risks. Although quarter minimum restricted shares for the year, but limited to peak concentration, lifting of pressure has not decreased. Now the market up lack of strength, "The size of non-lifting of" eye covetously on the one side, investors to watch out for "the size of non-lifting of" on the market again, "blood". Forward lifted the market value of the next three years are super trillions of restricted shares lifted has now become the ills besetting the market 2009 recovery two years since the IPO, IPO 933.8 billion yuan at the same time or money for the next few years and laid the hugeRisks, and the next will be more than 5 trillion restricted shares into the market. Finance meeting statistics, 2012 release unit will continue to decrease to 104.4 billion shares. But that by the year 2013, the number again rebounded to 380.579 billion shares, the ban increased the size to the 2011 more than twice, or even 2010 lifted 5072.92Millions of unit sizes as much as 75%. Incomplete statistics, without taking into account the subsequent IPO, "money" under the premise of the Delta formed by lifting unit, from the end of November 25, Shanghai and Shenzhen cities will also have closer to 2000, Ban Chao of scale in the market value as high as $ 5,016,618,000,000. This year $ 200.23 billion at the end there will be limited toShares lifted, period from 2012 to 2016, shanahi and lifted the market value of the two cities will be up to $ 1,361,490,000,000, $ 2,168,149,000,000, and $, $ 105.377 billion and $. Of course, many people in the market analysis pointed out that experienced in 2009 and 2010 two year's giant"Peak" after the impact, the continuous expansion of the a-share market in recent years, and psychological ability to respond to limited stocks in the market will be further enhanced. At the same time, given the current market environment is not very stable, which is also bound to cause inhibition of restricted shareholders urge to cash in. Research Director, Institute of shenyin wanguo GUI haoming said to the media, under the condition of full circulation, inherent in the market priceMore able to dominate the market, investors sell stocks, or watch for more investment value, rather than just how big is the circulation and limited to shareholders holding costs. But there are people in the industry believe that the substantial impact of shocks on short-term market lifted stocks remained large. A private placement of persons in the South said when interviewed by reporters, if shocks to the market as a whole, a large number of the ban on the unitCity will no doubt increase the selling, for stocks of influence can be seen. But the people also said that in the long run, this effect coming of age in relation to the whole circulation can still ignore, investors should look to the future. July 2013 will usher in the peak lifted hypothesis are limited to one-month ban on market value of $ 100 billion, after this year and 9 again basically back toScale of lifted rose to over $ 100 billion, highest in December to around 160 billion yuan. Except for January in the first half of next year, basically only to fall back to $ 100 billion level. Relatively speaking, release the pressure in the first half of next year is much better than the second half of this year. However, in July next year, Shanghai and Shenzhen limited unit size of one-month ban on the two cities will againBack up to levels of over $ 100 billion and reached relatively high of 169 billion yuan in December 2012. Subsequently, in February 2013, after the size of a one-month $ 158.8 billion, down month by month in May to its lowest point of $ 63 billion. On the whole, release the size of the first half of 2013 and 2012.It is worth noting is that deep restricted shares of the two cities of Shanghai, as the next few years release peaked in July 2013, will usher in a one-month ban could fetch as much as $ 723.3 billion amount of days in that month a total of 35 stocks lifted, lifted a total of 264.056 billion shares. Of course, as 2013 watershed of restricted shares lifted, lifted pressure before and after July, on the wholeNot too much with the past six months to change. The daily economic news reporter found further streamlining, although the July 2013 total market value of one-month ban as much as $ 723.3 billion, but only has 35 total units in the month the ban. This is what's going on? On July 15, 2010 IPO "Big Mac" ABC (601,288) Will have 258.593 billion shares (share 79.62%) will achieve the circulation of the first episode of the original unit. And this only a lump sum, a total market value of up to $ 664.583 billion, lifted a total market capitalisation of up to 91.88% in the month. In addition, the one-month ban from the next few years is relatively larger point of view, by December 2012, 1690.$ 900 million restricted shares coming out, and subsequent February 2013 will have $ 158.8 billion, August 2013 there will be $ 139.304 billion coming out one after another, but relatively dense mass release also needed attention to the second half of 2012. Beginning in July 2012, not including September lifted only at more than 80 billion dollars in the market value, market value of one-month ban on other 5 monthsOn top of the $ 100 billion, lifted scale up to more than 130 billion yuan a month on average. This was lifted within the next few years relative concentration of relatively large scale, mass release time of the special period. It is worth mentioning is that large-scale lifted shares in the second half was a 2012 years centralize circulation, because the 2009 IPO after recovery, China's heavy industry(601,989) (601,989, closed at $ 6.58), CNR (601,299) (601,299 swtor power leveling, closed at $ 4.91), yanghe shares (002304) (002304, closed at $ 146.83) and China Merchants securities (600,999) (600,999, closed at $ 11.36)IPO of a large number of larger projects have also launched the accumulation of restricted shares "dammed Lake", and also includes the power of the Yangtze River (600,900) (600,900, closed at $ 6.54), mountain coal International (600,546, closed at $ 24.95) closed the legacy of restricted shares of additional "sedimentation". RecessiveReview of risk or is greater than the actual selling pressure after the 2010 season for a ban on another peak, is also a large number of "Big Mac" lifted the formation of the first episode of the original unit "dammed Lake" has strong comparability. According to statistics, 2010 quarter, shanahi and lifted a total market capitalisation of the two cities of 3.47 trillion, 64.73% per cent of total market value of the ban for the year 2010.It is worth noting is that between October 11, 2010 was the first wave of Ban Chao, a total of 17 stocks only up to $ 20.8 billion shares at the same time the ban. China Shenhua (601,088, closed at $ 25.55) 14.511 billion shares lifted the original unit, ABC (601,288, closed at $ 2.54)5.032 billion shares first agencies placing shares lifted. A week later, the two cities also ushered in the second wave of Ban Chao. During the October 25, 2010, China Construction Bank (601,939, closed at $ 4.73) and led 134.012 billion restricted shares lifted "flood" attack. However, although the release a huge amount, but in addition to133.262 billion shares of China Construction Bank and the remaining 13 stocks limited stocks lifted only 750 million shares, overall cashed pressure smaller impact on the market is unlikely in real terms. Then entered in November 2010, eventually usher in a share when the maximum ban "peak" that exchanges involving 51 shares of $ restricted shares lifted. Of course,The interaction of multiple factors, shanahi and instead of the two cities are huge lifted "peak" impact, but suffered a wave of market rose by more than 20% of "blowout", non-ferrous metals and coal stocks gain amazing. On the whole, and the blue-chip benchmark institutions and State-owned share holding structure compared to natural persons and investment institutions concentrated stock holding small, gemUndoubtedly limited shares to cash in after the lifting of the main battlefield. Large British Securities Institute Director Li Daxiao to media that, smaller market capitalisation stock in stocks on the high side, become the financier of the "paradise" the hidden traps and investors. "While small stocks remained on a gradual increase in the number of total less than stocks, so the market chose to speculative small stocks. "However, in the listingExecutives benefit from stock at the same time, medium and small investors are saddled with hidden risks. And has gone through two new share distribution system reform, a situation that has begun to change appears. Finance survey data show that since the beginning of this year, a total of 78 stocks listed on the first day break occurred, junior, and gem accounted for 61. At present, although the "three high" phenomenon hasConvergence, but to share price return reason is not an easy task. Wuhan University of science and technology, Director of the Institute of finance and securities Dong Dengxin suggested to the media saying, under the a-share IPO network inquiry placing links, should the current Dutch auction method to American bidding method, and all the winning bidder of the "weighted average bid" as the net purchase price, while still maintaining the winning bidder inquiry object placement unit"Lock the three-month periodic" requirements. (Zhang Dongqing Chen Yuyi daily economic news)