Gem "High increase" there is speculation suspicion

Recently, the Shenzhen Stock Exchange issued a warning to investors a comprehensive and objective view of listed companies "high increase" phenomenon, rational investment judgment. Insiders pointed out that the Shenzhen Stock Exchange is intended to curb the current popular in the gem of the "high growth" of the wind, while reminding investors that "high growth" does not necessarily bring additional returns.　　"Real money" exists only in companies with good cash flow, continued growth in profitability, and rising market share. Collective "generosity" to lead the different move into the March, the company's annual report has been the focus of outside attention.　　In the published annual report of more than half of the gem companies, "high increase" and other words become the 2010 Gem of the annual report popular language. Among them, the Shenzhou Tai Yue (300002) one at a stroke of "top", to 10 shares to increase 15 shares to set up the annual record of the Gem company. March 30, Huaxing Entrepreneurship (300025) report disclosed that the company 2009 annual earnings per share of 0.83 yuan, net assets yield of 26.77%, 2 yuan per 10 shares (including tax) to increase 10 shares; followed by the Andean organism (300009),　　2009 earnings per share of 0.65 yuan, net assets of 5.90 yuan per share, net assets yield of 18.8%, every 10 shares sent 3.5 yuan (including tax) to increase 8 shares. "No matter how good the performance, enterprises are generous to send, feel like they have spent money."　　Said Li Yuming, a small investor. Li Yuming refers to by the outside world is recognized as the worst performance of the 2009 Net-bed technology (300017), according to the company's annual report, 2009, its main net profit of 32.6233 million yuan, down 4.79%, earnings per share of 0.55 yuan, compared to the previous year to reduce 9.84%, The net asset yield was 15.25%, down 17.89% from the previous year.　　Under this kind of performance, the company also generously to 10 shares to increase 7 shares of cash 1 yuan (including tax), dubbed as "poor transfer." Gem Company's collective large dispatch to ignite the market follow the hype. Data show that a lot of recent gem stock trend has not been the impact of the continued downturn in the Shanghai and Shenzhen cities, all the way. "For example, like we go to the mall shopping, a originally sold 50 yuan of merchandise, the merchant is priced 120 yuan, but claimed to buy one to send a piece, so that customers may sound like a big bargain, but in fact just a number game."　　Han Fangli, a teacher of mathematics at Guangzhou University. Industry experts point out that the "high increase" concept of the market is merely a financial treatment in the accounting business, the extraordinary growth of a few listed companies does not mean that the same sector or the same concept of other companies to increase the same, in the face of the growth of listed companies, investment should pay special attention to the changes in P/E,　　Must not be confused by concepts such as "high growth". Regulatory level to calm the face of "high increase" it is understood that the recent growth of the gem company has caused a high level of concern. March 26, the Shenzhen stock of the notice of investors concerned about the risk of gem; March 29,The Shenzhen stock company is calling for a two-day business Guide by cessation, the head of gem.　　Industry insiders believe that, at present, the annual report of the listed companies in the intensive release period, the Shenzhen Stock Exchange is intended to strengthen supervision, standardize the disclosure of the company's annual report authenticity, protect investors ' rights. At present, the main profit distribution of listed companies is cash dividend and capital accumulation fund to increase equity two ways.　　Shenzhen that the conversion of Capital Provident Fund into equity is essentially the use of funds raised from the vast majority of investors in the expansion of equity, although investors have more stock, but after the right to price, the stock market value of investors will not change, listed companies will not change the operating conditions. In this connection, the Shenzhen stock alert investors should pay special attention to three aspects: one is to recognize the "high increase" of the nature, enterprises can be "high", often because of its high premium distribution accumulated a huge Capital Provident fund, "high increase" will not change its fundamentals; second, the overall view of the performance growth of listed companies, not only to see the Year-on-year, More to see the chain, comprehensive analysis of data, will not be confused by the bright year-on-year data; third, rational view of the high growth of a few listed companies, the extraordinary growth of a small number of listed companies, does not mean that the same plate or the same concept of other companies to increase the same, investors if they do not pay attention to the specific situation of listed companies, blindly　　will face greater investment risk.　　The chief strategy analyst at GF Securities said, "high increase" to investors create a "stock illusion", but not equal to high dividends, high returns, whether it has a high growth, business prospects and market environment, and other factors is to measure whether the gem enterprises have the value of investment attributes. Concepts and financial games can not support the gem future "investment gem, nothing more than the high growth of the market, we want to see pragmatic development, so that the potential of SMEs through financing to go farther, and then to investors in real return, rather than today a ' build a rich board ', tomorrow to make some ' high increase ' gimmick.　　"This is the most talked-about journalist in the interview. It is understood that in recent years Shenzhen has continuously strengthened the supervision of information disclosure and insider trading of listed companies to ensure the fairness of information disclosure of listed companies and the compliance of transactions.　　In view of the current popular in the listed companies "high increase" phenomenon, in particular, the "high increase" company information disclosure before and after the supervision, and the "high increase" and short-term theme of the transactions of the key monitoring, timely detection of abnormal transactions and take measures, suspected violations will be reported to the Chinese Securities and Futures Commission filed investigation.　　Industry insiders pointed out that the gem because of the small plate, the possibility of market speculation relative to the motherboard, small and medium-sized board for larger, therefore, strict standard operation, Perfect insider information Insider management system, listed companies directors, supervisors, senior managers and other insider information insider self-discipline seems particularly important. "We absolutely support those companies that have good performance to give back to investors in terms of equity growth and cash dividends, and we are just worried that individual companies impostorsThink about how to improve performance, but once listed, obsessed thinking about how to circle money, how to use the financial statements to fool investors.　　"Li Yuming said. Rungwen that the long-term development of the gem, it can not be a small number of people to become rich market. "Concepts and financial games can not long-term support the future of the gem, so that all investors to share the growth of high-quality companies, the benefit of the people is the cornerstone of sustainable development of the gem."　　"said the visiting Wenfeng. According to Xinhua