According to the incomplete statistics of Wind data from Wan De Information Network, as of December 25, there were 913 listed companies in Shanghai's Shanghai and Shenzhen A -shares in 2023. It disclosed the relevant punishment documents issued by the regulatory agency, involving the company's main body, Dorang1611 (Editor's note: including the listed company itself and its shareholders company, participating in the control company).On the one hand, on the one hand, the strange capital operation trajectory of listed companies in China is hidden, and on the other hand, it also highlights the audit of China's regulatory authorities.
Statistics show that there are 5009 listed companies in the Shanghai and Shenzhen A -shares in the same period, which means that the proportion of listed companies that have received regulatory agency disposal documents account for 18%, and they have remitted a turbidity and stirred up the Chinese stock market.
The types of illegal regulations mainly include information disclosure of violations, insider trading, stock price manipulation, financial fraud, corporate governance norms, etc. Among them, 80 % of the issues involving information disclosure illegal regulations, including excessive performance trailer, and disclosure of specific major matters.In December alone, seven listed companies were investigated for suspected information disclosure of illegal laws.
Listed companies have seriously violated regulations, have a wide range of faces, and frequent old problems. In order to chase high profits, they do not hesitate to trample on the professional ethics and moral bottom lines of the capital market, and be adulterers under the eyelids of the regulatory department.This highlights the lack of legal awareness and integrity of some listed companies and intermediaries in China, inadequate in awe of legal rules and market laws, ignores the interests of investors, and despise supervision authority.
This also shows that if the Chinese stock market wants to flow in clearing, it will truly become a valuable highland for investors. It is necessaryThe sword of Sri Lanka, directly killing the listed company in violation of regulations, punished in a timely manner.
The regulatory authorities have strictly cracking down on various types of illegal and illegal acts in accordance with the law, which is conducive to improving the cost of illegal costs, deterring potential illegal people, purifying the financial environment, enhancing market confidence, and promoting high -quality financial development.
However, because the regulatory efforts of China's capital market are far as symmetrical and frequently of the number and frequency of listed companies, they can only touch the fur of the listed company. There are very few people who really hurt their bones and punish the pain.
The data is enough to support such an evaluation.Classified according to the type of punishment, the main body of 1611 illegal companies was subject to the most punishment, which was issued by a warning letter by the Securities Regulatory Commission, as high as 334 cases, and 263 were warned by the exchanges. 171 were ordered to make corrections.The family was publicly criticized, and only 121 were punished publicly, accounting for less than 8%.
It is worth noting that as of the close of December 19, 43 A shares have been forcibly delisted during the year. Although more than 42 in 2022, it has reached a record high, but compared with nearly a thousand illegal listed companies, it is compared with nearly a thousand illegal listed companies.The number of forced delisting is still small.Mature capital markets like the United States have been expelled from the stock market for hundreds of illegal listed companies in the year.In contrast, the clearing effect of the Chinese A -share market is still weak.
Of course, frozen three feet, not a day's cold. If you want to return to the investment attributes of the A -share market, it will be time to become the enthusiastic investment sacred place for investors.
On December 14, the Party Committee of the China Securities Regulatory Commission pointed out when conveying learning and implementing the spirit of the Central Economic Work Conference, and pointed out that it has solidly promoted the implementation of the establishment of a modern capital market policy with Chinese characteristics, and accelerated the construction of security, standardization, transparency, openness, dynamic, vibrant, vibrant, vibrant, vibrant, vibrant, vibrant, vibrant, vibrant, and vibrant.Toughly tough capital market.
We firmly believe that in 2024, the China Securities Regulatory Commission and exchanges will accelerate the construction of supervision capabilities that match the scale of listed companies.The effective improvement of China's economy and the reasonable growth of the amount of quantity.
The author is the writer of China Financial Media column, chief analyst of Jingsu Media
