Lang Xianping: Chinese Shareholders Are Too Pathetic To Be Fooled By Securities Companies.

China's stock market has been operating since November last year.

The media has talked about many problems, including macro control and interest rate increase.

I criticized a number of listed companies a few years ago, including Cologne, Delong, Haier, TCL, Changhong, 39, Lenovo and so on.

There are more and more criticisms of listed companies, but the stock market is still getting worse.

Therefore, this is not a problem of listed companies, but rather an "iron triangle", which is the real mastermind and manipulates China's stock market.

Its purpose is also very obvious, that is, to make profits, rather than to draw profits.

Who is this iron triangle? In fact, there is nothing to be curious about.

Who is this so-called dealer? After analyzing the author, I find that the securities and institutional investors are one, the sponsors are second, and the large shareholders of the listed companies are third, that is, these three constitute an "iron triangle".

The author first wants to talk about the first of the iron triangle.

Last year, the green land was dubbed "the worst reputation of the A shares in the history of the listed company". How unreliable the rotten stock was? In December 23rd, the green land announced that the controlling shareholders were frozen by the public security organs.

This news made the green earth drop 30% in the 4 trading day. In a flash, the market value of 1 billion 750 million yuan was destroyed.

The price of green garden was down 7.53% at that time, while the share price of Dongfang garden, which was also listed on the small and medium-sized board, rose 275.38% in total. The other palm garden, which was only listed for more than half a year, also gained about 117.46% increase.

Let's take a look at the report issued by the company on the green earth, which is too much to be seen. In 2008 3~4, a number of securities companies wrote reports to recommend buying or increasing the green land. This allowed the company to increase its stock in 2007~2008 after two years of listing, reaching 260 million yuan and 330 million yuan respectively.

This is a fake. How do we do after so many inventories and inflated profits? Inventory can't be cheated forever, so we have to tune it back.

How to tune it? Green earth finds a very good reason for the callback:

"Yunnan's drought weather since July 2009 has led to a loss of stock in the Simao base."

That is to say, because of the weather, this untimely drought has led to the loss of stock in the company, so the stock that was inflated at that time is now written off.

In fact, the author did not feel surprised about the practice of the green land. It was surprising that those who fooled around the stock market who had really gained huge profits did not get punished in the end.

In this event, what role did the securities companies play? We looked at the annual report of the green earth in 2007. When it was listed, Haitong Securities, Xingye securities, Yuyang fund and Guotai Junan bought 1 million 886 thousand and 100 shares, 659 thousand and 600 shares, 509 thousand and 400 shares and 257 thousand and 600 shares respectively.

After hyping up, they began to reduce.

Including Guotai Junan, Galaxy Securities, Huatai joint, Donghai securities and Shenyin Wanguo and other securities business researchers to green earth company to do research, after coming back to give a positive evaluation.

If Guotai Junan returned to the survey, it raised the neutral rating to buy and set the target price to 65 yuan.

Facts have proved that the price of 65 yuan has never been reached in the next 2 years.

And the first quarter of 2008, the first quarter of the year, as of the first quarter of 2008, Haitong Securities sold in full, 6 of the top ten shareholders, the total shareholding has dropped to less than 1 million 500 thousand shares.

This data shows that these brokerages have basically left the market.

However, until last January, analysts of many brokerages still gave Greenland purchase and overweight rating.

By the end of this year, this mess will be lost to our shareholders.

The stock of green earth has brought great frustration and blow to investors.

This situation is not only a problem of listed companies, but also a role played by securities firms.

These analysts and brokerages should be the most professional quality and professional ethics, and now they are fooling small shareholders.