The SFC investigated the locking of the source of home furnishings, Litong Electronics
"Zero tolerance" is the focus of the regulatory layer to implement the policy, private equity person Ye Fei "burst the door" event has ignited the regulatory layer to thoroughly investigate the implementation of market value management in the name of manipulation of the market and other violations of the fuse. The first time I've seen this, I've seen it in my life.
On the evening of May 16, the Securities and Futures Commission (SFC) announced that, in response to recent media reports that there are related parties suspected of colluding in the implementation of unlawful acts and other issues, according to the exchange to verify the situation, the decision of the relevant accounts suspected of manipulation of the Litong Electronics, home furnishings, and other stock prices to open a case for investigation.
The SFC said that it is determined to implement the "zero tolerance" approach to combat all types of major violations, including vicious market manipulation, insider trading and other major violations of the law, and continue to purify the market ecology.
The SFC believes that market manipulation seriously infringes on the legitimate rights and interests of investors and disrupts the market order, and must resolutely eradicate this kind of market "tumor". In recent years, some unscrupulous people use stock, capital, information, technical advantages, multi-party conspiracy to implement the manipulation of the case still occur from time to time. The SFC will be such violations as the focus of inspection and law enforcement crackdown, since 2020, a cumulative total of 65 suspected market manipulation of illegal behavior filed for investigation, Wang manipulation of "Kai Ying network", Wu Moumou manipulation of "Kerad" and a number of serious disruption of the market order and vicious market manipulation behavior. The market order of the vicious market manipulation behavior has been seriously investigated and dealt with.
The next step, the Securities and Futures Commission will firmly implement the overall requirements of the central law on the strict crackdown on securities illegal activities, the vicious market manipulation and other illegal acts continue to maintain a "zero tolerance" attitude, heavy blow to the wantonly, to avoid supervision of various types of manipulation of the market behavior, for the listed companies and the real controllers, private equity funds, For listed companies and their real controllers, private equity funds, public equity funds and other related organizations and individuals engaged in or involved in, the SFC will work with the public security organs to investigate and deal with them severely in accordance with the law, and will not tolerate them. The progress of the investigation and handling of the case, the Securities and Futures Commission will be announced in a timely manner.
The SFC said that all parties in the market, especially those who understand the situation and have evidence, through regular channels to report major securities and futures criminal clues, *** with the maintenance of good order in the capital market.
18 listed companies, 4 brokerage firms involved in the shady
Last week, Ye Fei in the social media openly to the home of the source "debt", and then one after another through different ways to release more suspected of market value management in the name of stock manipulation case information.
On May 15, following the public disclosure of home furnishing manipulation of stock prices, Ye Fei said that 18 listed companies in the hands of the "black market", and the public 9 company names, including Zhongtai Automobile, Zong should be interconnected, flange, LONGI Machinery, VISION, Haozhi electromechanical, Huayu Mining, Oriental Fashion and so on.
Recently the news pointed to the listed companies, take over the brokerage firms have voiced, said "do not know Ye Fei", "did not have contact with Ye Fei". May 16 afternoon, Tianfeng Securities responded to the media that the company has never been involved in the Ye Fei said that the company has not been involved in the market value of the home. The home maintenance of the market value management of the relevant behavior, self-management and asset management department 2021 has not occurred suspected home market value management related stock trading records, since the media V said there is an untruth.
Cyclical logic fade into long valuation repair
Ye Fei one after another burst of information attracted the whole network screen, stabbed the A-share market in the name of market value management insider trading black curtain, sensational, shocking. Investors hope that the Securities and Futures Commission will severely punish market manipulation and other illegal behavior, but also a clean slate in the A-share market.
How will the next market go?
CITIC Securities believes that the logic of the cycle faded, growth valuation repair. The price of commodities slowed down, domestic inflation is expected to phase down, monetary tightening is expected to ease, incremental funds gradually enter, the stock of funds to adjust the position of the market diffusion, the logic of the cycle of the A-share market phase fade, the growth plate is expected to usher in a round of monthly level valuation repair market. the beginning of the correction of the commodity prices in the middle of May is expected to ease the tightening of the domestic monetary policy is expected to drive the incremental funds continue to steadily enter, and the price of the market is expected to increase, the market is expected to increase, the price of the commodity prices is expected to increase. The company's business is a major player in the market, and the company has a strong track record of delivering high quality products.
In this context, the continuity of price increases and midstream and downstream demand into the interactive contradictory period, the cycle logic will phase out. CITIC Securities maintains the market in May from performance-driven to valuation elasticity judgment, suggesting that continue to layout high elasticity growth varieties, such as military, consumer electronics, semiconductor equipment, medical services, energy storage, new energy vehicles, intelligent driving.
CICC said that from the current position, from the amplitude of the index, volume response to changes in market sentiment, adjustment time, valuation and other dimensions to compare the history of the "medium-term adjustment" characteristics, the market "medium-term adjustment" is at the end, should not be pessimistic. Should not be pessimistic. Cyclical plate cumulative increase is large, and facing the uncertainty of the policy environment, the demand may not be strong, the subsequent market may be more structural opportunities mainly; experienced a certain adjustment, the recent performance of the growth plate may gradually return to the main market, reiterating the recommendation of the "light index, heavy structure, bias growth".
An Xin strategy analyst Chen Guo and other continue to maintain the market overall shock pattern judgment, short-term market risk appetite may be in a high position, there is a certain structural market operating time window. Configuration of the overall still have to focus on valuation and earnings growth rate and space to match the high degree of varieties, while bottom-up digging economic repair and transformation process of the neglected opportunities, most of the core assets valuation still need to be digested, but non-core assets in the new main line is still in the breeding.