With the implementation of the registration system, the pace of IPOs in China has accelerated, and the number of listed companies has exceeded 5,300, ranking first in the world. However, this does not mean that the quality of all listed companies is reliable. Many companies sacrifice long-term development and sustained profitability in pursuit of quick time-to-market and short-term profits. This phenomenon poses a potential risk to investors and also has a negative impact on the market as a whole.
In order to increase the activity of the market, the threshold for listed companies is being lowered. More companies have access to the market, but this also makes the differentiation of the company's quality more obvious. Some companies pursue high valuations and quick profits for the time being, but lack planning and consideration for the long-term development of the future. This phenomenon has raised concerns among investors and raised difficult questions for investor protection.
At the same time as lowering the threshold for listing, some companies with poor quality have also entered the market. These companies often have illegal listing behaviors such as fraudulent issuance and financial fraud, causing serious losses to investors. It is difficult for investors to accurately assess the risks of these companies, and there are large investment risks.
For investors, it is crucial to choose a listed company with potential and sustainable development. However, in the current market environment, many companies are facing quality issues. These companies chase high profits while ignoring risk control and financial transparency, creating greater uncertainty for investors.
Although the lowering of the listing threshold provides investors with more choices, more attention should also be paid to the issue of investor protection. Majority shareholders** are often in the spotlight of the market, however, the threshold for investor protection is rarely taken seriously. The excessive majority shareholder of the company will affect the confidence of the market, undermine the fairness of the market, and even cause serious losses to investors.
Liu Jipeng questioned the SSE's 18-month** rule. He argues that such regulations often indulge investors' "fast in and fast out" strategies and ignore the importance of a company's long-term development. What's the point of a company that can't survive for the long term and continue to create value for investors?
The behavior of major shareholders not only affects the stability of the market, but also causes the market to lose its fairness and justice. If the market only pursues short-term wealth growth, and ignores the protection of investors and the regulation of the quality of listed companies, then even if there is a temporary bubble, it is only a short-term bubble. Once the bubble bursts, it will not only damage the interests of investors, but also the confidence and stability of the entire market.
Liu Jipeng believes that the current major shareholders and monopoly capital have been made a thousand miles, and if we want to solve the problem, we must solve the problem of major shareholders and create a fair, just and open market environment.
In general, Liu Jipeng's criticism points out some problems in the current situation: the market pays too much attention to the problem of major shareholders, and ignores the more important investor protection and quality issues of listed companies. While promoting economic development, we should pay more attention to the protection of investors' rights and interests and strengthen the supervision of the quality of listed companies. What we need to pursue is not the number of listed companies, but to ensure the quality and stability of listed companies. Only in this way can we truly achieve healthy and stable development and create the greatest value return for investors.