The weekend ushered in a series of favorable policies, but today's stock market was not as booming as expected. In the end,The Shanghai Index closed up 1.13%.The Shenzhen Securities Index closed up 1.01%, and the GEM index closed up 0.96%.

However, the policy has been put in place, and subsequent effects are gradually occurring.

A number of companies terminated holdings reduction

This evening,More than 12 listed companies, including Jinneng Technology, DaZhi, Yongding Co., Ltd., Hasson Co., Ltd., Zhongyuan Home Furnishing, Qianjing Garden, Gravity Media, Golden Kirin, Huijia Times, Cambridge Technology, and Zhongman Petroleum, announced that according to the Securities Regulatory Commission's regulations to further regulate share holdings reduction behavior, the company's relevant shareholders terminated their holdings reduction plans ahead of schedule.

Yesterday,The Securities Regulatory Commission adjusts policies and regulationsIf a listed company has a bankruptcy or bankruptcy situation, or has not paid cash dividends in the last three years, and the cumulative amount of cash dividends is less than 30% of the average annual net profit of the last three years, the controlling shareholder or actual controller shall not reduce their holdings of the company's shares through the secondary market.

The controlling shareholder and actual controller acting in concert shall comply with the above requirements; if the listed company discloses that it has no controlling shareholder or actual controller, the largest shareholder and its actual controller shall comply with the above requirements.

According to the latest regulations, half of A-share listed companies will be restricted when reducing their holdings. According to Choice statistics, there are about 1,759 listed companies that have not paid cash dividends in the last three years, and the cumulative amount of cash dividends is less than 30% of the average annual net profit of the last three years. There are about 994 listed companies that have fallen below the issue price, and about 405 with a net market ratio of less than 1. Even after data deduplication, there are still about 2,500 listed companies that do not meet the requirements of the holdings reduction regulations, that is, about half of the listed companies cannot reduce their holdings.

Without exception, the unified reasons given by the companies that announced the termination of holdings reduction this time were all based on the regulations of the China Securities Regulatory Commission to further regulate the reduction of their holdings, and to terminate the reduction in holdings in line with their own circumstances.

Breaking through may become the biggest threshold

Judging from the analysis,Breaking has become the biggest threshold preventing listed companies from reducing their holdings. Currently, 11 out of 12 companies have broken their stock prices, and the reason Cambridge Technology has terminated the reduction in holdings is that it has not paid dividends in three years.

Judging from today's closing price, the listing price of Jinneng Technology is 13.37 yuan, the current stock price is 8.16 yuan; the issue price of Big Wisdom is 23.2 yuan, the current stock price is 8.63 yuan; the issue price of Yongding Co., Ltd. is 7.1 yuan, the current stock price is 6.19 yuan; the issue price of Hasson shares is 9.15 yuan, and the current stock price is 7.86 yuan; the current stock price is 16.01 yuan; Qianjing Garden's issue price is 18.98 yuan; the current stock price is 5.81 yuan; Gravity Media's issue price is 14.63 yuan. The current stock price is 9.52 yuan; The issue price of Golden Kirin is 21.37 yuan, and the current stock price is 13.86 yuan; the issue price of Tieliu shares is 20.4 yuan, and the current stock price is 9.42 yuan; the issue price of Huijia Times is 8.81 yuan, and the current stock price is 6.09 yuan; the issue price of Zhongman Petroleum is 22.61 yuan, and the current stock price is 19.49 yuan.

However, the listing and issuance price of Cambridge Technology is 15.05 yuan.Benefiting from AI this year, the company's stock price once rose by more than 428%, and the increase narrowed to 302.47%.The latest stock price is 45.9 yuan/share, with a total market value of 12.31 billion yuan.

However, Cambridge Technology announced no dividends for three consecutive years from 2019 to 2022.It is worth noting that the company also previously stated in the shareholder dividend plan return that on the premise of complying with the laws, regulations and regulatory requirements at that time, the company is now every yearThe profit distributed by the financial method is not less than 15% of the distributable profit achieved in that year.

According to the announcement,Cambridge TechnologyOn June 1, it was announced that the controlling shareholder Cambridge Industries Company Limited plans to:

From June 6 to December 2, the total reduction in company shares through bulk transactions did not exceed 1% of the total number of company shares (268222941 shares) on the day the holdings reduction plan was disclosed;
From June 26 to December 22, the total number of company shares reduced through centralized bidding transactions shall not exceed 1% of the total number of company shares held on the day of disclosure of the holdings reduction plan; the total amount of company shares reduced through bulk transactions and centralized bidding transactions shall not exceed 1% of the total number of company shares held on the day the holdings reduction plan was disclosed.

On May 31, it was announced that the shareholder Shanghai Kangling Technology Partnership (Limited Partnership) Plan:

From June 5 to December 1, the total number of company shares reduced through bulk transactions was no more than 2570183 shares, accounting for 0.96% of the total number of company shares on the day the plan was disclosed;
From June 21 to December 17, the total number of company shares reduced through centralized bidding transactions was no more than 2570183 shares, accounting for 0.96% of the total number of company shares on the day the holdings reduction plan was disclosed; the total number of company shares reduced through bulk transactions and centralized bidding transactions did not exceed 2570183 shares, accounting for 0.96% of the total number of company shares on the day the plan was disclosed.

According to the regulatory requirements issued by the Securities Regulatory Commission on August 27, and taking into account the company's specific circumstances, controlling shareholder CIG Cayman and its co-actor Kang Ling Technology decided to terminate all of these unfinished share holdings reduction plans ahead of schedule.