in the column “Sky Upside Seven-story Tower” on October 26th that Hong Kong after the anti-send campaign is a city of the sky
After the siege of Zhongda and PolyU, the economic structure of the inverted seven-story tower has not changed. The most grounded bottom layer is the retail industry. All the way up is: (second floor) electronic retail, (third floor) enterprise service provider, (fourth floor) listed company, (five floor) general fund, (sixth floor) equation Fund, (seventh floor) true family office or sovereign fund. Even if the unfortunate retail industry in Hong Kong is almost completely destroyed, the city of the sky will not fall. However, the height of the airborne aircraft is maintained by the (fourth floor) listed company. If this layer is destroyed, it is as if the helicopter propeller is not working. The entire helicopter/sky city will fall. In the delisting event of the National Joint Resources (00254), I first shared the “City of the Sky” theory with the readers. Now it is the turn of China Ding Yifeng (00612). The author will further explain to you what is the value of Hong Kong. The devastating destruction, and not the damage that can be compared to the anti-send movement.
Delisting equals destructive industry
Ding Yifeng’s main business is investment. Since October 2015, Taoist 隋 has become the chairman of the company in general, the stock price has soared, increasing by dozens of times. Although there have been rumors in the market that the general public is suspected of illegally raising funds in the Mainland, there is no evidence to find that there is no obstacle to investors’ enthusiastic pursuit of Ding Yifeng. In February of this year, Ding Yifeng was included in one of the constituents of the Hang Seng Composite Large and Medium-Cap Index. It should have passed the review of HSI, but only three weeks after the news came out, the SFC exercised power to order the company to suspend trading. On the same day, the company also visited the company office with a search warrant.
What is the most criticized for suspension and delisting? In the analogy of a housing estate, 75% of the large owners have hired a property management company that does not know the so-called property management company to make the housing estates smoldering. The regulatory authorities require all residents to withdraw, which is equivalent to suspension of trading. It will immediately make everyone homeless. Shareholders are not allowed to sell. If the regulation is to be further removed, it is equal to delisting. Small owners/small shareholders are equal to home. The death is the most inhuman punishment.
The grassroots of the grassroots know that if they are detained by the police, the police should file a complaint within 48 hours, otherwise they will let people regain their freedom. If the company is a legal person, then the GEM is eight products → the main board is seven. Product → Blue chip counts six products, six products should be regarded as the senior corporate citizen of the senior corporate Citizen in the capital world. Why can we put a set of rules for these big nationals without a 48-hour suspension without complaint? Even the big nationals of the four products are not as good as the rights of the small citizens. Ding Yifeng has been suspended for more than eight months now. The resumption of the securities supervision is the design of the cotton crease. In 12 months, the directors and senior executives can resume trading without being charged. This sentence must not be graduated from the law school undergraduate course. It can only be changed to a defensive behavior and immediately resume trading. If a high-ranking defendant is found guilty within 12 months, he will immediately suspend the card. If he does not understand, he will go to the law school to re-read the book.
There is a class of stocks in the world called the main stock. The most familiar one is of course the founder of the Apple business, Steve Jobs. Whether people buy mobile phones or buy stocks, it may be due to a respect for the leader. In this case, The Consumer Council does not have to pay attention to whether the mobile phone is reasonably priced. As long as it complies with the Trade Descriptions Ordinance, it is enough. Similarly, the Securities and Futures Exchange of the Securities and Exchange Commission does not care whether the stocks have prospects. Is the cost reasonable? The biggest principle is called willingness to fight. When investors understand and are willing to take risks, others must not be blamed.
Hong Kong needs Dutch children
Ding Yifeng’s situation is even further than that of Apple. It can be called the temple , which is not the beginning of today, but has been since ancient times: when the stock market is not available, humans have learned how to raise funds, the easiest to raise funds. The place is a temple church, because believers trust a certain leader or patriarch, and are willing to donate money to achieve a certain purpose. In the past, different sects have raised funds to build temples and fight. Modern society has evolved into green stock investment and ESG stock investment, which can be called temple stocks. The risk level in the middle is not the most important, but the social goal of shareholders. Many of Dingyifeng’s minority shareholders are long-term leaders. If a small number of shareholders have agreed to a certain social direction and are willing to take risks, the supervisory authority will add more than one hand, will the risk factor change accordingly?
A little more, suppose that time back to Jobs when he was not dead, just returned to Apple, found that desktop computers have no prospects, and Apple is listed in Hong Kong, decided to raise funds to develop mobile phones, this fund-raising plan will die at the joint management of the securities On the road to approval, the reason is very MBA: Jobs did not develop mobile phone experience, the mobile phone market has been very competitive, Motorola and Nokia have occupied most of the market, new players are not likely to occupy enough market share to survive, in addition to the market The “strong” competitors from the 3rd to the 10th place have ruled out their fund-raising plans and asked why? In the end, it may be necessary to add a sentence to the dog’s tail: It is recommended that Apple go back to the desktop route, and even buy a similar company such as Sile/HP. Today, the Apple iPhone in everyone’s hands can only die. The current regulation regulates the effective destruction of the effective system of the Hong Kong capital market. The seriousness of the situation can be described as an alternative to Hong Kong. For example, a small hole is drilled in the Dutch dam. If it is turned a blind eye to it, no one is plugging it with a finger. Once the cave is broken, it will eventually collapse. Someone needs to stand up and use his fingers to block the small hole in the dam. Like a Dutch child, he chooses good and solid.