129729111392656250_529A quarter of a-share listed companies begin to disclose results for the 2011 year Express. The past, tend to be high to go share much-hyped, but now high to send formula which can only provoke a brief pulse. These look very generous to send programme, what are the "bruising"? Bruising: increase only "change hands" games weeksUnderstand that distributing cash dividends of listed companies through three ways, songgu and converted into shares, in this three-way, it is now and songgu. On the financial processing, cash and songgu is unassigned in profit taking. By contrast, converting its shares are mainly from the capital reserve, high percentage increase does not need to achieve huge profits to the company.It can be said that dished out a programme for listed companies, is not converted into shares is too difficult. For investors speaking, converted into shares has no practical significance, but on paper, stock, interest but no change. Typical examples are honghuilong shares (002556), thrown on January 19 10 10 2 bonus plans, at the same time, 2011 per cent decline in full year net profit of 18.36%. Secondary market investors are not interested in this programme, programme after throwing the day after chonggao huilong shares fall, many organizations Fund also took a lot of selling. Observation on high sent shares of class a shares in recent years can be found, mostly dividend programme to increase stake in truly large sums of cash and songgu company is one of the few. To2010 annual report, for example, according to the statistics, at that time a total of 1372 listed company introduced a bonus scheme, with only 130 companies songgu. By contrast, implementing the programme company was converted into a number, 498, with 1:1 or a higher percentage increase of 162. Bruising II: high go no longer Wu Yi XI Wei GUI if higher share capitalThis Provident Fund, the high share of undistributed profits "double high" standard evaluation, by the end of the third quarter last year, the a-share listed companies capital reserve of more than $ 3 per share in stock up to 602, undistributed profits above $ 1 per share stock more than thousands. Capital reserves and undistributed profits are thicker stock is mostly listed 1-2 shares. Analysts pointed out that, New listings in the early years, most have sent high distribution potential, in particular rely on high ability of capital formation of Provident Fund converted into shares. Therefore, in the case of new stocks grow faster, higher delivery and distribution of stocks in the market supply is abundant, will inevitably lead to market "aesthetic fatigue". Bruising three: or the corruption of forced rotation despite lucrative bonus schemeMost wore "return on shareholders" signs, but some weird phenomenon worthy of note. Is a major shareholder in push up the release day delivery and distribution. Si Erte (002538) the day before yesterday to throw 10 10 2 bonus scheme, and on January 18, Si Erte 32.01 million shares lifted the first original unit. From the equity structure of the company and the ban period, the decompositionBan share holders for PE (private equity investors). Second is suspected of pushing up paving the way to go private placement. For example, spark electric (002298) adopted on October 9, 2011 closed additional plans, increased the price of not less than $ 12.88, shares briefly dropped below $ 12 since then, apart from this high delivery and distribution programme to stimulate, increased the reserve priceI'm afraid it is difficult to preserve. Analysts believe that high restaurant recipe can be expanded equity, push down the stock price to increase the liquidity of the market, so that the original per cent shareholder in particular substantial shareholdings of shareholders easier now. In fact, high sent right to go for practical significance lies mainly with the exception of the investors are able to fill after the ex-dividend rights, or sent into shares or cash dividends are not to voteBook income of the capital had a practical impact. Is, unfortunately, precisely because of the previously mentioned bruising, implemented in recent years sent high trend of distribution rights to very few stocks out of the fill. 2010, with 162 stocks increase in 1:1 or higher, there is no right to any stock is completely filled. For now, best Tomson times and health (300,146), whichFrom $ 104.25-$ 10 10 10 except right after the ex-dividend stock rises to $ 91.5. Poor stock performance with Wan Bangda (300,055), construction of new shares (002480), century full, except right after the ex-dividend will continue to fall. Therefore, analysts pointed out that investors need to focus on those who rely on the actual profit maintainedRed company, so as not to go game by gaudy high to send the "hoodwinked". Related topics: company Watch-listed companies focus 2011 annual report
