Industrial capital "short" big non December emerging reduction tide

December 12, but also including Chongqing Luqiao, Guangzhou State Light, St. Yin Cheng and other 8 companies issued a major shareholder's reduction notice. Prior to the day of December 11, there are also including Wave software, in the creation of the letter test, Crown Hao High-tech, St Tang and other 8 companies issued major shareholders of the reduction notice.　　Obviously, "big non" has become the main force of reduction. Since December, the adjustment of the market has nothing to do with the large non reduction of listed companies. "said the research director of a joint venture fund company in Shenzhen.　　While many investors are paying close attention to institutional investors such as funds and insurance, the research director points to the short kinetic energy of industrial capital.　　In the end of the capital market, industrial and financial capital produced great differences. December large non-reduction tide this October is a big non reduction of a low point. In the monthly statistics of the company, the shareholding of more than 5% of the total number of shareholders to reduce shareholding 459 million shares, compared with September 611 million shares fell 152 million shares.　　But with the market rising, into the November, large and not reduce the rapid increase. According to the listed companies issued in November, the main shareholder reduction announcement, total disclosure of 1.16 billion shares in the month, wind is expected to reduce the amount of up to 14.27 billion yuan. All two indices are of historical maximum value.　　In September and October, the number of shares reduced by 746 million shares and 683 million shares respectively, involving about 7.26 billion yuan and 7.85 billion yuan. Wind statistics, as of December 12, the month total has 59 companies issued major shareholders to reduce the stock of the announcement, reduce the number of shares to 490 million shares, estimated to reduce the amount of 5.23 billion yuan, excluding two non-trading days, the average trading day about 6 of the main shareholders reduction.　　And even in the big non reduction of ferocious November, the average trading day only about 5 companies to release the main shareholder reduction information. From the release of the company to reduce the announcement of the industry, the November and December data similar, midstream manufacturing enterprises occupy a larger share.　　Combined November and December two months of data, a total of 174 companies issued major shareholder reduction announcements, according to the SFC industry classification, machinery, equipment, instrumentation, petroleum, chemistry, plastics, plastics, information technology, the three major industries in the number of listed companies. Among them, Fu Yao Glass, Zijin Mining, the largest number of shares.　　November, December the disclosure of the amount of the estimate is 3.05 billion yuan, 1.48 billion yuan, 930 million yuan.　　Retreat reason Ping An securities senior strategy researcher Cai that large-scaled reduction is generally caused by two reasons: one is that shareholders think valuations are too high; the other is that shareholders need money.　　But from the interview understand that more shareholder reduction is because of the need for funds. First of all, reduce shareholders have to invest in new projects demand. such as gree Electrical appliances, the company's actual control of personality group and its unanimous action people Zhuhai Gree Real Estate Co., Ltd. to reduce the stock 19.08 million shares. According to the company's securities representative said, Gree Group has aircraft manufacturing and many other investment projects, the need for funds. According to the disclosure, GreeThe group and AVIC Group have invested tens of billions of dollars to form a general Aircraft company. In the interview of the company, most of the reduction is the case. For example, Xia Ke environmental protection two masters Jiangyin Imatinib Electrical Co., Ltd. from February 25, 2009 to December 10, 2009 Close, a number of reduction of Chardonnay environmental protection, total sales of 2701219 shares of the company, accounting for the total shares of 1. 34%.　　IMATINIB Electrical Co., Ltd. is a company without the manufacturing industry management team of investment companies, but the company has a different legal entity of the Association of Imatinib Electric Co., Ltd. to benefit from the rise in copper prices, this year has been good development, there is the need to expand capacity. Wei Fengchun, chief macro economist of Citic Investment, believes that there are a number of specific factors in capital market withdrawal at the end of the year. First, China's economic recovery is better, especially the CPI11 month, and CPI has been transmitted to PPI, companies have the power to expand production.　　On the other hand, the contraction of bank credit at the end of the enterprise financing channels narrowed, the use of financial capital is more convenient. The second is the withdrawal of PE funds. For example, Guangzhou National light foreign shareholder PRDF No.1 L.L.C is an investment fund.　　December 10, 2009 Guangzhou Echizen received the notice of the foreign shareholders, November 5, 2009 to December 10, PRDF through the Shenzhen Stock Exchange listed on the sale of 2.67 million shares of the company.　　Guangzhou State Light Securities Affairs, PRDF to Guangzhou country Light or long-term optimistic, but because of other project investment problems, need funds. Finally, local government funds are withdrawn. The more obvious case is Chongqing Luqiao.　　December 10, the company received the second largest shareholder Chongqing State Trust Investment Holdings Limited notice: Chongqing State Letter through the bulk of the transaction in December 10 sold Chongqing Luqiao 20630500 shares, accounting for the company's total equity of 5%. The Chongqing State Trust Investment Holdings Limited is the Chongqing Sasac under the investment company, its cash income can be counted into the state-owned capital operating income, supplementary revenue. Wei Fengchun that the local government's financial pressure is greater, it will be more obvious next year, the state-controlled company has its own reasonable logic.