If a word interim

 Some Thoughts on China's medium-term (2010-08-31 20:37:53)
one, first, whether the success of the reorganization of Chinese medium-term problem, which is our greatest concern is the main cause of 000,996 towards the market outlook. personally think that the restructuring will become.
can be said that a considerable number of people misread misjudged the middle of China issued on 6 August the resumption notice, the notice has in fact clearly and simply illustrates this fact: ; intermediaries on matters of this major asset restructuring carried out preparatory work major shareholder of a company and its medium-term medium-term restructuring of the Group are consistent with the wishes. Be careful: restructuring is still underway, but in view of the future structure of some assets and organizational level factors, resulting in reorganization items in the announcement does not within one month of the scheduled completion on time, need to extend the processing time. we all know, for a certain scale Chinese enterprises, especially for such an old medium to large enterprises, the reorganization is not a half to ten days to receive the Palace, the audit assessment of assets is a very trivial thing, in the middle on the Property, including claims related to such debt and accounts payable, etc. many issues, there is also the process of restructuring is likely to associate the interests of all parties need to coordinate time. Therefore, when the original just a month really can not be completed on schedule, China's first medium-term can only choose a resumption notice.
However, the restructuring will certainly not stop. said this point, also please note: Resumption Notice the flow and trend analysis.
should be said that nearly half a year, paying close attention to the 000,996 number of funds, although some short notice before the suspension outflow of hot money, but does not affect the resumption of trading opened on the first day of the daily limit, because funds support the market opening that day.
resumption coincided with the broader market in a number of analysts and retail investors consider to more than 2600 high, the broader market because of fears of systemic risk and the top of the building for the restructuring of China's medium-term expectations have weakened, resulting in the funds involved 000,996 face began to shrink in two weeks, the basic state is in a net outflow, but this does not mean that medium-term restructuring of industry fragmentation, and China did not develop.
finally Friday again raised the broader market down another exodus Kong Huangpan , Note: It is Konghuang Pan. the main form by the big money, but money is a multi-level form, the main outflow of funds does not mean big money.
Third, on the tape with the Chinese mid-
the existence of the market's systemic risk , but for some special industries and enterprises, its influence is not so much we imagined. If the broader market of individual stocks can and to all, then, every time the dawn of the broader market risk, two thousand shares in Shanghai and Shenzhen should make green, but not a rise, not to limit stocks appear. It is a light on the broader market has long been the idea of re-stock problem. Moreover, China does not belong to the Shanghai and Shenzhen 300 Index mid-shares, based on the unique and essential for the industry is good, There are serious stagflation early, out of sync with the broader market, need to consider compensatory growth rather than the broader market tied to accompany.
And who can say, the market in the second half end in 2600?
Fourth, it is a time to complete based on recombinant
reorganization of the annual report before and after the judge started, about the end of December to be completed around January next year. On this point, the specific reasons I will not explain.
(add the fourth point: We also do not always go too fast simply blame the broader market expansion, new issues have been frequent, and do not simply understand the pressure of inflation for the country DA, this is misunderstanding. because if you do not do so, futures and other derivatives Space can not expand, the market the larger the expansion, the future development of financial derivatives space will be. This is big country into the ranks of the only way to finance.)
five mid-on industry restructuring in China is expected to promote each other < br> futures industry, including stock index futures industry, will accelerate China's entry into the financial big country ranks the pace of exchange rate reform and index futures in the 21st century in the financial sector of the two generous. China's medium-term the company is the first futures companies, brand value, while there, but growing competition in the industry today, including China, mid-mid-term group in order to remain unbeaten in the industry, the most urgent need is for integration of resources, medium, medium-term cooperation and the international futures Ka integration of the three major companies already in the possession of the real level of thinking the list, to industry characteristics, it is not retreat, because he is not a general industry companies, industry characteristics led him to have to be taken the step today.
(technically go bad often do not represent the market outlook the actual direction of the several hundred million admit to buying a half hour to fix, faster than the 4S. In such cases I see many, many good stocks is such a halfway decent. so now comes the sake, and to add two
one point anyway, on the reorganization of content. The reorganization of the content may be more thorough and covers a very wide.
1, does not exclude the future development of other promising prospects for future strong strategic investor like through certain channels the fact that the mid-shares, and this takes time and the operation of certain technologies, but this is a good thing;
2, the content also includes restructuring the company name change, as from the original mainly in transport and logistics industry, change, Jubilee shares to futures China's medium-term finance as the main industry, can change the main medium-term period of international business, then as a secondary market investors, making money thing, possession is considered a light. Of course, if he's again in a few industry, a wholly owned subsidiary, is also regarded as a diversified business model.
3, from Dudley to the medium-term, in fact, already pointed out the direction of the reorganization of the Group management level, as can soon become an international medium, which should Chinese companies, and medium group medium-term operational efficiency, should be able to produce good results, because the medium-term and medium-term group company by the same person as the legal representative of the left and right balance.
4, is not allowed within the same group have the same primary industry in two listed companies exist, so the middle of China International Futures International Futures.
optimistic about the 25 billion-30 billion market value of 000996.)
six weeks after resumption of trading of funds on the distribution of
the first day of resumption of trading in order to limit the opening. That day I see clearly the whole big way to eat on the breathing, but dishes are too many, wanted to cover up the board in the results could not sealed, only to gain 6 points closed. After two weeks, 000,996 go much stronger than the broader market. Resumption Notice re suspension, and resumption of trading is in the broader market after the sensitive period, this time there is no retail dare to seek the so-called plate, then 000 996 to 25 and not long ago was this 27.54.
replaced by any person, on the day to be shaking under the circumstances, the main force worthy of respect!
seven, on the futures brokerage firm for development and profit forecast
commodity futures era, due to the threshold, and futures issues such as awareness, and restricted the effective increase business turnover, when the market itself is small, the industry norm is not enough, in the scramble for market share , and there are some competitive prices is normal. and make this market really revitalized, is the era of the index, compared to commodity futures, stock index futures market, attention, higher participation is also higher, which is a consensus.
when the market is not standardized, market share, not big enough, some of the futures brokerage firm is a price war between the normal and understandable, but when the market expanded, especially in the futures market really comes great , as the market attention and participation improved rapidly, especially when the index after the introduction of mini contracts, industry standards began to put on the agenda. the futures market and the stock market each other sister, the state will not allow a very long time to come within the futures industry In the unfair competition. Moreover, when the futures market is a huge source of tax revenue, the Financial Times, the country is fully able to influence the direction of MIN index of economic series. Thus, futures trading is a matter of tax reform in this regard, as the stock market.
In this regard, do not be misled by some understanding of bias, three decades of reform and opening to launch stock index futures, the state is under a lot of determination, the market is on the rise, but also a dream about the financial powers. < br> (The stock market is the old market, the emerging markets of the city. a lot of support brokerage stocks, only shares of a business. However, use of this circulation is not primarily a bargaining chip shares to be distributed, but in other ways too.
This is not about the reorganization of a stock market speculation, but rather an example of the operation on the capital, in the process, especially during the year, the trend is not about performance and municipal surplus. However, the change in these indicators is essential .
next week due to time constraints, may have few opportunities to come, but I am still optimistic about this stock unusual.)
mode of restructuring, there are three possible ways
:
one, the most common private placement, that the traditional model, the 000,996 private placement of shares to the mid-term group, to obtain the China International Futures Group Limited (formerly China International Futures Brokerage Co., Ltd.) into equity. If the words used in this way the first involves the determination of issuance price, according to the current net asset value of 000,996 current and earnings, additional price of only 12 yuan in 10 --- within the range, assuming that, if true to the 10 --- 000 996 12 yuan the additional price to the major shareholders, then the program must first obtain JJH additional approval, the same way, as approved JJH side, this is a serious problem, because the issuance price and market price difference too far, too high a premium, obviously against the legitimate interests of other shareholders in the secondary market, many tradable shareholders to follow up 000,996 since news of the restructuring and buy at a high level, if low is bound to lead to additional legal disputes related to the detriment of the ZF image. led by a mobilize the whole body, and that the issuance of stock price fluctuations by the secondary market for the new Z has been demonstrated which is, you can come out soon, so this definitely is not approved additional low-cost, basically you can rule out this possibility; < br> Second, related party transactions, that is 000,996 and the medium-term exchange assets of the Group obtained control of the Group's remaining shares of China International Futures Co., Ltd., the problem is, first of all to make it clear whether the assets of 000,996 associated with the mid-group exchange, the bulk of transactions impossible, because in addition to the Group has control of the 000,996 of the 23.5% outside, not a natural person is an investment institutions to hold, no shares available for trading large platform. Therefore, in addition to cash in have been sold Asset Management Limited, Jubilee outside the 000,996 most possible to its services, its car sales, automotive trade and logistics industry, packaged together, discount trading to the mid-term evaluation group, in return, the Group to the China International Futures Co., Ltd. acquired the remaining shares (approximately 70% strongly) to 000,996 transactions so that the China International Futures Co., Ltd. became a wholly owned subsidiary of China's medium-term (000,996's only international futures, futures and medium-term medium-term cooperation in the reorganization of pre-Ka has been merged with the international futures, see announcement), so that the medium-term futures of assets within the group plate to achieve the overall market, while China's medium-term will be in the original Group Holdings 23.5%, based on corporate shares and then additional groups, individual estimates, this additional part, may be 15 - 20%;
three major asset replacement. In other words, in addition to other third parties outside the group for strategic investors optimistic about the prospects for the development of 000,996 equity investment, the specific group to 000,996 by way of injection, this mode of operation is based on medium-term funding for the carrier group, specifically by the 000,996, three medium-term equity investors collectively, and agreed.
personally think that the first possibility is close to zero, only the latter two may be in one, the latter two may also be mixed. Although the process is cumbersome, but stunning outcome.
(semi-annual report came out, the dynamic city of 000,996 times earnings fell to 800 times from 1100, but it is important to note that: 000 996, China International Futures 22.4% share of the points estimated by the equity method to report cash only . Therefore, the 22.4% annual return on equity plus third-party groups or other venture capital injection of up to 000,996 of the annual performance of 0.07 - 0.08, corresponding to the city is about 300 times earnings, if the overlay of that commission income to expand the case, 200 times earnings for the corresponding city. However, 200 times 200 times beyond the PE does not mean the future, because after the reorganization of China's medium-term futures have been successfully divest other non-asset, into a professional listed.)
elaborate medium-term br> On the technical side
996 I will look at mid-divided into several stages, first in 2009 shot up in April this year after the peak of oscillation period; the second is the decline in mid-April after the fall of the establishment; three is 9 since the end of the turning point of bottoming out. In turn, I always focus on the medium-term and waiting, during which it was made in the shares of the two posts, one on April 28, 31 yuan in the situation that the iron at the end, I post several key points, 25,29,31.31 well understood that the after-effects of iron on the bottom, where a large number of hunters gathered chips, this is not my place to judge suspension, it will not be successful reorganization of the importance of an important basis for .29 is May 10-12 in this form the wound of the so-called central, central ceiling in 28.8, before the suspension still can not break through until the .25 is my medium-term decline is expected to form the basis of technical objectives, so the ultimate goal is to give 24.6 away from the error of the actual low of 23.53 about 1 million. but in-turn after September 30 the occasion of 25.01 and low of just this.
unexpected resumption of the trend that day, did not show expected to open sharply lower in the original thought breakdown after opening sharply lower early lows, and even landed on the platform last year, limit the opening to all this change, because the price will touch the daily limit of 31, its significance lies in forcing the lock-plate 35 above the flesh, urging hunters offer low cash, and Incidentally, do not cut 31 line of chips Gan is not embarrassed, kill three birds .9 26 per month line again late in the formation of low-central, 29 below the center, the same day that the Powei Bowen situation, it is not true, if the April 15 high and Aug. 6 high connection, the stock has been quiet in mid-September decline crossing the line, September 30 the Powei this trend line is the technical back foot, and then entered the turning point of the way quickly out of gapped the bottom of the minor oscillations in between 29-31 will limit through 31.
but not happy too early, it was endlessly in every day shouting daily limit, to take off. Do not call out, shout the more the more fundamental description of the poster do not understand the market. subject to the reorganization is expected, the latter would be unusual flat trend, and October 26 the daily limit has obvious problems, before I judge an interim suspension once again have no limit.

frank about the fundamentals of 996 said that the technical analysis of the situation can not agree, but its still quite grasp the fundamentals in place, but the recent situation is no longer writing about the mid-Bowen, the lack of opportunity to learn from.
medium can be if you do not re- that is a waste. judge in the end there is no medium-term restructuring is also very simple, look at the market price of their long-term positioning, how could not re-locate this long? I expect additional restructuring will not be a simple acquisition of 78% international equity futures, which not worth so mysterious, but the mid-market group as a whole. Interim Group in addition to what the international futures outside the 24-hour platform. The 24-hour platform stake, its location can be through the Beijing CBD reflects. This is the power of building elements Beijing important platform for the market. situation was judged to introduce national strategic investors, and even the ultimate holding mid-term, we can say the more important this platform, the situation to judge the more of touch. based on this platform nature of the transaction, is to be where the White Holy basic can be expected. Once the biggest names in the arrival of heavyweight, mid-Beijing, Shanghai, is the return of mid-easily realized.
, of course, the possibility of one-step medium-term restructuring in the end how much? If implemented in several stages, the initial acquisition is International Futures options, then I advise you lower expectations, expect significant price increases is basically impossible.
of: 110.185.52 .* Published :2010-11-06 22:48:29
medium The confusion
(2010-08-09 12:19:34)
1, short-term is not a good vote, the current prices have been borrowing against future;
2, there is no restructuring of this unit can not touch;
3, fundamental uncertainty, restructuring failure confuse;
4, the direction of future development of listed companies, three months too many variables.
quietly go away, or the courage to stay?
University of Mean 2010 -08-08 23:12:34 Good Man ah!!!
see the brother of the article with the arctic fox, Oh it is not bad, ideas determine, but I guess with this idea of environment and soil texture on! < br> Let me talk a frequent occurrence that we may know the things around us: a subordinate unit of the district government to be a major infrastructure project, then, engineering design and construction units and other specific matters are laid down, but the district government know that a company can consider the next government is also aware of a company with good words, of course, there are many deep-rooted relationship with the words to find people that can only delay the matter down, dragged 2 years ......< br> I want to say is the main medium is assumed, since it is assumed, so it belongs to a family of pot back, behind the main interests of the betting side is that behind it, but also the dialectical see, is not absolute, direct access to the court, or to balance the balance Yes, the overall balance of interests but the most important stake culture, Guoxue culture than the audience on stage to be more exciting, the North and up / internal and external, and so entangled with, in fact, may be suspended from another point of view is normal yo. he has seen something different perspective, resulting in judgments of different ideas and goal setting, a change in thinking knocked and left medium itself, chess network can do a great deal goes on.
assumed idea 1: medium-term is the natural son Tian Tian is a problem, so the size and resolution of problems or it may be associated with the mid part of the Department of interests?
assumes idea 2: the positioning of Shanghai and Beijing tone problems (see Yu and Liu's speech)?
assumes idea 3: vested interests to suppress / fellow sniper?
.......
I dare say that people are capable medium-term, very talented, are racking their brains on the restructuring efforts, but the major environmental issues led to the current state of counterproductive, Shibuguosan sheets come true! < br> The start of both events then how can now say is a hero, how can the medium from the great? will not come true, we can only wait patiently for big changes in the environment!
arctic fox brother, who 24 hours stuff I see is a kind of props, there is no fact, the key policy and that you will give you, say no to you, you have only the transfer. monopoly power of infinity, large very people who can so, this is the will of the state of interest!
I said earlier the issue of agricultural policy and in fact you can see the monopolistic interests of supporting the bond, it is implicit, openly said that for the country and the interests of the people, ha ha ghosts know What do the following thought.
This is the current environment, of course, vested interests in the division, so a lot of medium-term opportunity, anyway, I think things will be tired in the day, I believe that the interim rule found Heaven!