Sany Group's commitment is of global significance

Shanghai Securities News, June 20Since the share reform in 2005, Sany Heavy Industry has become a company in the industry, and its shares have also become a stock in the market, because it is the "share reform * 5656 shares" in the A-share market, and it is also the * 5656 shares of the group company through the secondary market after the share reform. * Recently, the company has made big news, when the stock market is generally complaining about the problem of "big and small", Sany Group, the controlling shareholder of Sany Heavy Industry, issued an announcement promising that the shares that have been lifted will voluntarily continue to be locked for two years, and will not reduce the company's shares in the secondary market before the stock price is less than twice the price of the lifting date. This move has global implications at the moment:

1. As a "share reform * 5,656 shares", if this move can form an exemplary role among the major shareholders of other listed companies in the future, it will help to resolve the psychological pressure brought by the secondary market investors to a certain extent. If Sany Group's move is instructed by the competent department, it can better show that "grasping the big and letting go of the small" is the management idea of the regulator for "non-shares". It further shows that although the scale of the lifting of the ban on "big non" in the later stage is even greater, the selling pressure will not be as good as the "small non" that rushes to the road.

2. Sany Heavy Industry has become a fully tradable share after the standard sense of 5656 shares from the date of lifting the ban on the shares held by the controlling shareholder, and the commitment of Sany Group has resolved the psychological pressure on the market on Sany Heavy Industry stocks, and also given investors confidence in the holding and investment of Sany Heavy Industry stocks, which should be respected by investors. In fact, at a time when its stock was admired by the market and rose high, the beneficiary of *5655 was still Sany Group. The other major shareholders who subsequently lifted the ban should follow suit after seeing the strategy of Sany Group in one fell swoop.

3. Prior to this, Sany Heavy Industry's other "non-shares" other than the controlling shareholder have been sold off, and the controlling shareholder has reduced its holdings twice, but there have also been two increases in holdings. The commitment of the major shareholders not to reduce their holdings below 55.76 yuan not only shows that they are very confident in the company's growth and the prospects of the stock market, but more importantly, after clearing other "non-share" interference, the market value mechanism of win-win between major shareholders and shareholders of tradable shares has been formed, and under the market value mechanism, major shareholders will be the beneficiaries of *5655. For the entire stock market, as long as other "big and small" lifting of the ban can be fully digested, in order to reflect a better market value value, the lifting of the ban on the controlling shareholder is a long factor on the stock market, rather than selling pressure, after all, the controlling shareholder has the right to speak on the listed company and its stock market.

Fourth, the previous or currently selling off the "big and small" is only the financial investors of the market, starting from the lifting of the ban on the shareholding of major shareholders of Sany Heavy Industry, A-shares have entered a new era of industrial capital dominating the market, industrial capital and financial capital have different valuation standards, and the original valuation method of the market will likely change. Sany Group made a commitment not to reduce its holdings below 55.76 yuan, it is obvious that the current stock price is obviously low in the eyes of Sany Group as an industrial capital, if Sany Group does recognize that 55.76 yuan / share is the true value of the company, then the current low stock price and future market fluctuations provide low-risk arbitrage opportunities for the industrial capital of major shareholders, which also has important demonstration significance for major shareholders of other companies.

5. Sany Group dares to make a commitment not to reduce its holdings below 55.76 yuan, which to some extent means that the major shareholders have become the market makers of *5655 in the market after the ban is lifted. This is also the main reason why the power of institutional investors, who used to call for wind and rain in the market, has been gradually weakened.

Sixth, the market is gradually entering a new era of full circulation, Sany Group's move also provides investors with a new standard for choosing a company: as a fully circulated *5655 vested interests, as a * understand the industrial capital of listed companies, if the major shareholders after the lifting of the ban can take Sany Group as an example, remove the psychological burden of investors and give the market a clear expectation, then it is a good company worthy of investors' favor. On the contrary, if there is a large-scale reduction of holdings after the lifting of the ban by major shareholders, investors in such companies must abandon it. The reason is very simple: even the major shareholders who understand the company "don't want their own children anymore", why do investors continue to "maintain" it!

7. Sany Group is a private company, and the major shareholders of more listed companies are state-owned shareholders. After the stock market has fallen into the quagmire of "big and small", private enterprises still have this righteous act, and as a major state-owned shareholder with a greater sense of social responsibility, they should not be indifferent. What's more, it's a win-win situation.