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Debt to equity swap a geometric supply side Manniu is approaching www.ncss.org.cn

The geometric effect of debt on the A shares "supply side Manniu" is sina finance App: Live on-line blogger to guide the purchase of new shares: the stock market is the most simple way to pick up the money market debt is conducive to the formation of liquidity is expected to remain relatively loose, and ease the credit debt risk concerns the host package in Xingan: a new round of domestic the debt to equity swap officially start breaking. Sinosteel has become the current debt restructuring debt first implementation of state-owned enterprises. The Sinosteel debt restructuring plan is approved, there will have a demonstration effect on the domestic enterprise debt, debt is expected to follow the policy will soon be introduced. Reporter Sun Hua – before the Sinosteel international engineering Limited by Share Ltd announced that, in the Department of the government guidance and support, in the joint efforts of all parties, the controlling shareholder of the company Sinosteel debt restructuring program officially approved. Sinosteel has become the current debt restructuring debt first implementation of state-owned enterprises. Then, the debt to equity swap has any impact on the A stock market? The debt is conducive to the formation of market liquidity is expected to remain relatively loose, and alleviate the credit risk of the debt worries. The formation of good debt on the stock market, if the shares will be "an important signal of the supply side Manniu." Huatai Securities Research Institute chief researcher Dai Kang strategy in an "Securities Daily" reporter said, "supply side Manniu" is divided into two steps: the first step Manniu, end to improve the denominator. Policy signals to the supply side structural reform as the representative of the A shares reduce long-term risk premium Manniu; the second step, then to end. The effect of structural reforms on the supply side of the performance of A shares of listed companies will exceed market expectations, A shares of non-financial listed companies in the three quarter of ROE to see an upward inflection point. Dai Kang said, from stocks, historical cases can be verified, the market most of the debt to equity swap ends. Nanjing Tanker was by stripping loss of assets, reduce the debt burden, improving the transport capacity and ownership structure, long-term losses to reverse the situation, in 2015 net profit of 628 million yuan. In into three new board trading, Nanjing Tanker 22 consecutive harvest limit, the highest price reached 4 yuan, much higher than the 2.3 yuan of the stock transfer. A number of banks not only to recover the principal and interest, and floating profit. In the long voyage Phoenix immediately after the implementation of debt to equity profitability, net profit of 4 billion 307 million yuan in 2014. In December 18, 2015 after the resumption, the long voyage Phoenix stock performance is amazing, the average price 19.89 yuan, turnover release day. Despite the rapid decline since then, but the transaction price has been much higher than before the suspension of the stock price, but also much higher than the psychological expectations of the price of creditors. CITIC Securities believes that the market control of history, understanding of the "debt to equity" may be divided into 3 stages, short-term positive bias, but beware of the expected cash market after the fall. The last round (since 1998) of the debt to equity swap, roughly divided into 3 stages: debt stocks, business difficulties, confidence in the market downturn of 1999; from March to August, the policy vision becomes strong, the market rose sharply (the first stage); in 1999 August, the official policy of the floor, the gradual implementation of debt to equity swap相关的主题文章: