The Shanghai and Shenzhen Exchange further regulates the shares reduction behavior

The China Shanghai and Shenzhen Exchange issued a notice on further standardized shares to reduce holdings on Tuesday (September 26).Among them, the listed company has a breakthrough, net break, or in the past three years without cash dividends, cumulative cash dividend amount is lower than the average annual net profit of 30%in the past three years, the controlling shareholder and actual controller shall not reduce through the secondary market.Holding the company's shares.

According to the CCTV news client, the content of the notification also includes: the controlling shareholder and actual controller should judge whether there is a breakdown, a net, or a non -compliance of the dividend;If there is no relevant situation, you can disclose the reduction plan and explain the specific situation.In the controlling shareholder and actual controller's pre -disclosed holding plan, the reduction time range must not exceed three months.

The notice also stipulates that if the controlling shareholding plan is not disclosed in advance, the controlling shareholder and actual controller shall not be able to centralize bidding transactions through the Shanghai -Shenzhen Exchange and reduce the shares of large transactions.

The secondary market reduction refers to the concentrated bidding transaction or a large transaction reduction shares through the Shanghai -Shenzhen Exchange.If the controlling shareholder and the actual controller plan to reduce the shares through the major transaction, the relevant information shall be disclosed with reference to the relevant detailed control rules of the exchange.

The China Securities Regulatory Commission issued new regulations on August 27th to regulate the shares reduction behavior, stipulating that listed companies have fallen below the issue price, the stock price has fallen below net asset value, or cash dividends have not been made in the past three years., The controlling shareholder and actual controller shall not reduce the shares of the company.

However, since September, there are still listed companies' top winds and reducing holdings to touch the "red line".Xi'an Western Testing Technology Co., Ltd. disclosed the announcement of three shareholders' apology of three shareholders who held more than 5%of shareholders on September 18.Earlier, the two listed companies of our Household and Oriental Fashion have also been severely punished by the regulatory level for illegal reduction.