Baosteel tide lifting the ban lead in August under pressure from the market confidence in the re-.

Chinese people's century Olympic dream will be a round in August, this year, the climax of the size of non-lifting of the ban will also appear in August, up 237.6 billion yuan of the Restricted Shares lifting of the ban, which limits the maximum ban of Baosteel, the size of non-lifting of the ban climax in August .psychological stress caused to investors is far greater than the actual sell-off may be formed. .<P Align=center> sell-off until mid-year report locking August </ P> <P> (http://) as they put it, these days the trend of A shares slump confirmed the confidence of investors and funds have been or .to the extreme. .</ P> <P> Southwest Securities analyst Zhang Gang, according to estimates, in August of shares lifted the pressure more than 11 times in July. .August share sale of shares of the lifting of the ban will be limited, the amount is 216.4 billion yuan, 18.9 billion more than July's increase of 197.5 billion yuan, the rate of increase was 1044.98%; the total amount of restricted shares lifted as 237.6 billion yuan, 624 more than in June .billion to 175.2 billion yuan, the rate of increase was 280.77%, nearly four times as July. .</ P> <P> which the maximum amount of lifting of the ban Baosteel reached 100.3 billion yuan, followed by 22.8 billion of CITIC Securities, Suning Appliance 168 billion. .Total amount of accounts for the three month total amount of the share reform lifted 65%, indicating that the stress is concentrated cash. .</ P> <P> non-stock reform to reduce the amount of shares lifted five percent. .Chenzhou Mining shareholders to subscribe for shares of the original starting amount of lifting up to 24 billion, GRG starting amount of the original shareholders to subscribe for shares of lifting up to 20 billion yuan, Jin Jing private placement agencies placement technology shares lifted the amount of 15 billion. .</ P> <P> particular, subject to relevant provisions of the lifting of the ban in July, but can not sell the size of the non-real-time, the selling pressure will be concentrated in August. .</ P> <P> under the "lifting of restrictions on sale of stock of listed companies guidance on transfer of shares" in Article V, "the controlling shareholders of listed companies in the company's annual report, semi-annual report may not be transferred within 30 days prior to the announcement to lift restrictions on sale deposit .the amount of shares. " .In this way, the original intention of shares in July lifted the controlling shareholder of reduction to have to wait until after the semi-annual disclosure before they can be. .</ P> <P> Fortunately, the July semi-annual report of listed companies disclose only 22% of the total. .And August by 88% semi-annual report of listed companies disclose an appointment, but also semi-annual disclosure of the end time. .Zhang Gang said in August with the semi-annual report of the continuous disclosure, lock-up period, Restricted Shares lifted the situation will be even more cause for concern. .</ P> <P align=center> 8 月 12 times the amount of lifting the ban on July </ P> <P> calculated according to Zhang Gang, August average daily share amount will be limited, for the lifting of the ban sale of shares 10,305,000,000 yuan, compared with July's .822 million yuan, increasing 9.483 billion yuan, with a range 1153.65%, to 12 times more than in July. .August 2008 lifting of the ban the average amount of each company is 2.378 billion yuan, compared with July's 259 million, increasing 2.119 billion yuan, the rate of increase was 718.15%, for the July 8 times. .</ P> <P> which, in August over a 10 share reform of listed companies trading day ban sale of shares subject to Aug. 4, Aug. 8, Aug. 11, Aug. 18, more pressure for the lifting of the ban .set time. .</ P> <P> "As the entire trading day in August of less than 2 days in July. Therefore, the overall situation, the lifting of the ban single-day increase in pressure than in July more than 10 times the pressure of a single company's lifting of the ban 7 .8 times more than in January. "Zhang Gang said, lifting the proportion of outstanding shares of stock accounted for 60% of the company ST Tokai A, Baosteel, Guangzhou Holding, Shenergy, Supor, Zhengzhou Coal, Sinochem International ., Luxi Chemical, Aeolus Tyre Co., a total of 11 Pearl of the Orient, and in July did not. .A proportion of the East China Sea where ST up to 277.47 percent, followed by Baosteel 212.10%, 202.97% holding in Guangzhou. .</ P> <P> number of shareholders, the top three companies are the East China Sea ST A, Shenergy, Meiling, number of shareholders were 60, 21, 12. .</ P> <P> "91 listed companies, the proportion of state-owned shares have more than 50% in 9, respectively, Baosteel, Guangzhou Holding, Jinling Pharmaceutical, Tongli Cement, * ST Changhe, Huadian Power International, .Jiangxi Cement, Laobaigan wine, Tianwei change. "Zhang Gang said, these companies can sell the state shares properly, without loss of shareholder status, there are some cash risk. .In addition, ST Hongsheng, Shimao shares, large work first, * ST Meiyan, Connaught sun, Ma Ying-long, totaling 27 companies owned shares without sales limit, worthy of attention. .</ P> <P> recently there have been increases of listed companies to honor its promise to lift the embargo in August in 91 companies, shareholders promised cash price is higher than the lowest current market price of the medicine is only so long; and Mut Wah shares, Shaoguan Iron & Steel .Matsuyama, Guangzhou shareholders holding the minimum cash commitment to the adjusted price is only slightly lower than the market price is a concern. .</ P> <P align=center> incremental "peak" Stopped </ P> <P> increment of shares sufficient to rebuild a A shares. .</ P> <P> Some analysts have reviewed, "the size of non-" pressure will end in 2010, is the date the rise of A shares. .But the truth is, due to continuously issue new shares after the share reform, incremental cash restricted shares of the pressure of a same size plastic enough to be A-share market. .</ P> <P> relevant statistical data show that the share reform before the listing of the shares totaled 9.59 trillion yuan, of which "the size of non-" left 4.94 trillion yuan; the share reform after the total market value of shares listed on 9 trillion yuan, of which 7.55 .trillion is still a "lock." .Which is now 12.49 trillion yuan in Shanghai and Shenzhen stock markets are still issued no stock in circulation, of which 60% is added after the share reform of the Restricted Shares. .</ P> <P> The IPO is still in full swing, in front of Chinese architecture, after the 25 times price-earnings ratio of China South Locomotive. .The block trading platform can only contain limited to the first sale of shares changing hands, changing hands after the "curve" approach, still the pressure piled on the secondary market. .</ P> <P> "The size of Non-stock reform Although the numbers have not small, but it is after all the stock. And new from the old rear of the restricted shares is incremental, and I do not know how many more 'up', see .less than head ah. "Zhang satellite market veteran exclaimed. .</ P>.