Over thousands of funds awkwardness involving equity pledge deposit potential risk-sexinse

Over thousands of funds awkwardness involving equity pledge deposit potential risk fund crisis stock market value ratio of total fund net TOP10 tabulation: Chen Weihua source: strategy team CICC Shenzhen Daily reporter Li Ling monkey first year Dikaigaozou stock index, but the majority of stocks still fell close. In this context, part of the equity pledge shares are close to below the liquidation line. Public data show that in 2015 a total of 6480 equity pledge financing, of which more than 1000 fund awkwardness. Insiders believe that the stock of equity pledge is a "double-edged sword" for the fund, and the large shareholders in the bear market will be forced to open, which will lead to the fall of the stock price, and the net value of the fund will be damaged. Two companies pledged shares were forced to open, the first half of 2015 A share market all the way high, many large shareholders of listed companies choose equity pledge to obtain more cash flow. However, after 6 months of last year, the bull market stopped abruptly, the continuous collapse of some equity pledge shares on the verge of being liquidated predicament. Kay stone financial products research center said that financial institutions in order to prevent losses caused by the fall of the stock price, will be pledged shares of stock prices set up early warning line and open line. When the share price fell close to the warning line, financial institutions will require large shareholders to cover; when reaching the open line and large shareholders can’t cover or cash redemption, financial institutions have the right to sell the Pledged Shares in the secondary market two. The common warning line standard in the market is 160% or 150%, and the common open line standard is 140% or 130%. For example, if a stock price is 10 yuan, the pledge rate is 40%, the warning line of 150%, open line 130%, the unit of the warning line of 6 yuan, down 40% shares of big shareholders to cover positions; the stock liquidation line is 5.2 yuan, the share price decline of 48% will be forced to liquidate. WIND data statistics, in 2015 a total of 6480 equity pledge financing, involving 1367 listed companies, pledged 174 billion 900 million shares of total equity, reference total market capitalization of 3 trillion and 200 billion yuan. Cliff in July last year after the fall, some stocks have been in jeopardy. Public information display, the Hui ball technology shares of the major shareholders of the two companies, the separation of stock pledge to be liquidated, Coship, United Group, Koon Fook shares, Tin shares, Haihong holdings etc. several major shareholders of listed companies on the stock pledge open line, announced an emergency stop sign. Data show that the current equity pledge storm coming, nearly 200 stocks have been approaching or below the unwinding line. Some stocks accounted for more than 10% of the net value of the fund crisis in January 27th according to estimates of strategy team, there are 448 stocks pledged part of the project has reached the warning line, of which 124 stocks of equity pledge project reached the warning line below the number of shares accounted for the total number of shares in the proportion of more than 10%, there are potential risks. It is worth noting that many of them are heavily held for the fund. Statistics Research Center of Kay stone financial products show that since 2014, there are about 11700 Pledged Shares in the A share market, there are still more than 6800 items of pledge project, involving more than 1500 stocks, of which there are 101 theories

超千只基金重仓股涉股权质押 存潜在风险   基金重仓危机股市值占基金净值比TOP10   制表:陈伟华 来源:中金公司策略团队     深圳商报记者 李玲   猴年开局沪指低开高走,但多数个股依然以下跌收盘。在此背景下,部分股权质押股濒临跌破平仓线。公开数据显示,2015年全年共发生股权质押融资6480笔,其中基金重仓股超过千只。业内人士认为,重仓股权质押股对于基金来说是柄“双刃剑”,熊市中大股东被强行平仓将导致股价下挫,基金净值也将因此而受损。   两公司质押股票被强制平仓   2015年上半年A股市场一路走高,不少上市公司大股东选择股权质押以获得更多现金流。然而去年6月中之后,牛市步伐戛然而止,连续暴跌令部分股权质押股濒临被平仓窘境。   凯石金融产品研究中心表示,金融机构为防止股价下跌带来损失,会对质押个股的股价设置预警线与平仓线。当股价连续下跌接近预警线时,金融机构会要求大股东补仓;当达到平仓线而大股东又没有办法补仓或现金赎回时,金融机构有权将所质押的股票在二级市场上抛售。市场上通用的预警线标准为160%或150%,通用的平仓线标准为140%或130%。举例来讲,若一只个股股价为10元,质押率为40%,预警线为150%,平仓线为130%,则该股的预警线为6元,股价跌幅40%时大股东需补仓;该股平仓线为5.2元,股价跌幅达到48%时将被迫平仓。   WIND数据统计,2015年全年共发生股权质押融资6480笔,涉及上市公司1367家,质押总股本1749亿股,参考总市值3.2万亿元。在去年7月之后的断崖式下跌中,部分个股已岌岌可危。   公开信息显示,目前慧球科技、鼎立股份两家公司大股东质押股票被强制平仓,同洲电子、齐心集团、冠福股份、锡业股份、海虹控股等多家上市公司大股东质押股票濒临平仓线,紧急宣布停牌。有数据显示,目前股权质押风暴降临,近200只个股已逼近或跌破平仓线。   一些基金危机股占净值10%以上   根据中金策略团队1月27日的测算,有448只个股的部分质押项目达到了预警线以下,其中124只个股股权质押项目达到预警线以下股数占总股数比例在10%以上,存在潜在风险。值得注意的是,其中多只为基金重仓持有。   凯石金融产品研究中心统计显示,2014年以来A股市场共发生约11700笔质押,目前尚存质押项目6800多笔,涉及1500余只个股,其中有1017只个股被基金四季报重仓持有。若将危机个股的定义为,股权质押中达到预警线以下股数占总股数10%以上的个股,那么有15只基金可能存在潜在风险。   统计显示,目前融通动力先锋、东方增长中小盘、大成竞争优势、大成策略回报、华商创新成长等15只基金中,重仓危机股市值占基金净值比在10%以上。他们认为,如果不幸重仓了股权质押爆仓的个股,假使大股东又无作为,股票将惨遭平仓被抛售,那么会造成个股股价下挫,基金净值也会因此受损。上述基金,目前可能存在较大风险。   但也有业内人士认为,当部分质押项目达到预警线以下时,大股东往往会选择补充质押股权、补充抵押现金、提前回购股权、停牌等措施自救。当市场企稳,股权质押风险解除,该类个股反而可能迅速反弹。以鼎立股份为例,其大股东被平仓后,承诺将资金再度增持,该股复牌后并未出现断崖式下跌。 新浪声明:此消息系转载自新浪合作媒体,新浪网登载此文出于传递更多信息之目的,并不意味着赞同其观点或证实其描述。文章内容仅供参考,不构成投资建议。投资者据此操作,风险自担。 进入【新浪财经股吧】讨论相关的主题文章: