Be wary of listed companies rubbing against hot spots to make profits

　　Ma Chunyang

　　In the restorative market since the end of April, the performance of the new energy sector has been particularly eye-catching. In particular, the prices of related stocks in the sub-field of photovoltaics have risen one after another, attracting a number of listed companies to "strike while the iron is hot" to announce plans to expand production capacity, in order to improve their own market competitiveness.

It is worth noting that in addition to being companies in the photovoltaic field, there are many listed companies in other fields that have also announced "cross-border" entry into the photovoltaic industry.

Among them, there are companies that sincerely want to make some achievements, but it is also necessary to be wary of individual companies that are suspected of rubbing up on hot spots to drive stock prices.

　　Since the beginning of this year, at least 20 listed companies have announced that they intend to "cross-border" to set foot in the photovoltaic field through the construction of photovoltaic cell production bases, joint investment in the establishment of subsidiaries, and equity acquisitions. For toys, some do pig breeding, and some do paper manufacturing. The original business scope and photovoltaic industry are basically not attached to it.

　　Objectively speaking, under the background of the rapid development of my country's photovoltaic industry, the market demand continues to increase, and it is understandable for some listed companies to seize the opportunity to carry out strategic transformation. Whether the interests of shareholders can be well protected still needs to be fully researched, judged and analyzed.

After all, every line is like a mountain, and the photovoltaic industry is a technology-driven "high-threshold" industry. Companies without any technical foundation or operating experience rushed in one after another, which is a bit unreliable no matter how you look at it.

　　Historically, whenever there is a hot spot in the sector, there will be listed companies jumping out in various ways to take advantage of the "bonus" of rising stock prices.

For example, when the concept of Internet finance was hot, in order to have a relationship with P2P, one company simply changed the company name to "Pitupi". Although it did not actually carry out related business, the stock price went up for 6 consecutive days due to the popularity of the market. .

　　In fact, in addition to genuine transformation, the important reason for many listed companies to cross the border is to raise their stock prices.

Short-term supply and demand determine the price. When there is a certain concept sector in the market that is highly concerned by the market, a large amount of capital pours in, and the price of related stocks often ushered in a wave of rises.

It is under such expectations that some companies whose stock prices have been trading sideways or even falling for a long time have become crooked. .

Even if the supervision later found clues and issued an inquiry letter, the fact that the stock price has risen has already been formed, and the cross-border "traders" have already "reaped" and left the market.

　　It can be seen that among the listed companies’ frequent behaviors, some companies have been suspected of market manipulation and other irregularities. It is necessary for the regulatory authorities to strengthen management, otherwise it will not only infringe the rights and interests of small and medium investors, but also damage the credibility of the entire market. Cause huge damage, thereby affecting the long-term stable development of the capital market.

　　Regulatory authorities should consider further clarifying the nature of listed companies’ “hot spots”, improve information disclosure rules, and strengthen post-event supervision, especially for companies that frequently “return to their promises” and are keen on “hype concepts”, such as those involving false statements. Crimes should be punished accordingly.

For investors, they should be more vigilant and keep their eyes open. The more "cross-border" behavior during the hot market period, the more careful screening must be made, and the rational judgment of the purpose of the listed company's behavior must be made. A piece of bulletin drives my head.