Study on the wealth of selected funds 　　End of May 18 to raise 　　Embedded success “pasteurized” investment and wealth of research style of selected funds, and raise the end of 18th. Securities Times reporter was informed that, during the Fund issue, encouraging. 　　The stock index futures risk fund, one of the first to introduce hedging mechanisms, locked for ordinary investors effective investment income, while actively seeking excess profits. Wealth Fund says from the current market direction, this year is likely to be starting point for historic turn of Chinese stock market, but the reasonable return of market restructuring and stock [...]

　　$ 108 billion worth of “Wang Lao JI” trademark regression, two a-shares of Guangzhou pharmaceutical group have daily limit yesterday. From the position of the Fund in the first quarter, rising benefit from the event-driven opportunities Fund is limited. 　　Recovery of “Wang Lao JI” marks overshadowing, a daily limit in early trading yesterday in Baiyun mountain, Guangzhou pharmaceutical business for one hour after the resumption of daily limit. In fact, good release, two stocks have been rising sharply. Guangzhou pharmaceutical on May 7 6 consecutive day since May over or 50% May 50%, a rose is close to Baiyun mountain. [...]

　　Delisting soon before the pressure of the new deal, many ST if not intensify the restructuring restructuring, risk could face delisting. Today, the three together like a heart beat in ST company announced to restructure “Opera”. 　　*ST Chinese-a (000017) has twice application reforming, are due to material does not align and is not is Court accepted, now although material problem still is not solution, *ST Chinese of large shareholders and again application Court ruled company reforming; happened to of is, to court application reforming has fast a years are no audio of *ST Jincheng (000820), today also suddenly received court [...]

　　Last week, as the number of listed companies announced investment in microfinance companies, as well as some rumours of a small bank loan company will be transformed into towns and villages, the a-share market set off a wave of investment boom of small loan companies. Huafeng line subsidiary companies (Hua Fengchao peak spandex fibers and China) and Hong Sing shares big fluctuations in number of shares of a listed company. 　　Shares behind the restlessness, investors on small loan company profitability and good expectations for the future development, but it is important to note, degree of benefit of listed companies are [...]

　　While the profitability of small loan companies have been proved, but listed company accounting methods used will have an impact on small loans to shareholders of the company in return. At present, the securities times reporters from the shares of small loan companies found in the annual reports of listed companies, these small loan company shares held by the company are currently being classified as a long-term equity investment. Under this account, can both profit and loss by equity method and cost method expressions. 　　According to the accounting standards, holding a small loan company 20% equity or listed companies under [...]

　　Yesterday, the Shanghai and Shenzhen stock markets higher after opening lower shocks, strong resource stocks and liquor unit to be killed in early fall main, strong stocks fall risk supplement release. 　　Sea wealth management securities senior investment consulting Center Zhong Jingteng believes that international commodity prices fell, dragged down resources stock adjustment pressures may further increase. Performance support in liquor stocks upward trend has not changed, but after continuous rising early short-term withdrawal of consolidation of demand. 　　Resource stocks fall risk supplement release 　　Continuous flight of funds 8.5 billion 　　Yesterday’s concept of rare earth permanent magnet, gold, coal industry, non-ferrous [...]

　　Dragon shares (300,054) 　　Rating: overweight 　　Rating agencies: China Everbright securities 　　Dragon share incentive scheme was launched, together with two kinds of incentives stock options and restricted stock, involved more than 2.03 million shares of common stock of the company as a whole does not share, 2.26% per cent of the total share capital. 　　We believe that due to the color toner for projects not yet ready for production, company incentive power conditions are mainly on the performance of the company’s existing business considerations. On one hand, net profit in the company’s existing business in the past 3 years compound annual [...]

　　Two cities Monday market-MarketWatch, merchant received a Yin line, on the side, such as pharmaceutical, biotechnology, real estate, power plate has strong, non-ferrous metals, coal and wine sector, such as the trend is weak. 　　Shanghai Stock Exchange trading information displays in public, listed stocks gainers as tech shares, investment in Guangzhou pharmaceutical and eternal life. Tech shares, Shanghai stocks one of the daily limit on individual stocks, observed after the 60-day moving average are supporting daily limit, one spy too many shows, guotai Junan securities business Department of Chengdu road, large increase floating capital with more than $ 15.69 million [...]

　　Guangzhou Wang Lao JI pharmaceutical group successfully recovered both trademark Guangzhou Baiyun mountains of drug industry, a daily limit. 　　Once again, despite the Central Bank reduced reserve requirements release liquidity, but the Shanghai and Shenzhen stock markets yesterday did not buy it, rendering advance low throughout the day, stocks in late spring. However, the medical unit long silence yesterday was very “hard work”, but because the Guangzhou Wang Lao JI pharmaceutical group successfully recovered both trademarks outside the Guangzhou Baiyun mountains of drug industry, a daily limit, eternal life investment, interpreting drug sectors, Nanjing medicine are based on daily limit [...]

　　While capital market banks cut deposit reserve ratio to be prepared, but since the Central Bank last week reverse repurchase 60 billion, so this week cut reserve requirements also is a little more than the market expected. 　　After two previous Reserve cut, coupled with the Government’s support for first-time home buyers needs will make the property market turnover rose even more evident, from Central Bank announced net increase the loan amount of the purchase, we can see that property transactions since the end of last year has been greatly improved. We believe that with the gradual easing of the total [...]

　　Last week, livelihood retail industry index income rate for-2.25%, run win CSI 300 index (-2.58%) 0.33%, is 29 a a level industry index price ranking in the of 20th bit, but in consumption class industry (medicine (1.55%), and textile clothing (-1.26%), and food beverage (-1.44%), and Agriculture and forestry Shepherd fishing (-1.37%), and commercial retail (-2.55%)) in the bottom. 　　As of May 13, 2012 retail sector is 17.23 times times forecast earnings, 2013 is 14.02 times times forecast earnings, in the consumer industry and medicine, food and beverage, catering such as tourism, farming, forestry, animal husbandry and fishing compared with [...]

　　On May 15, a-share markets a number of political flux restricted shares of a listed company lifted, as in Shenzhen second board companies. 　　Digital Government passes (300,075): release restricted shares of nature as the first unit of the original shareholders. Release 1 to shareholders, namely Shenzhen innovation investment holdings limited, is the tenth-largest shareholder, holding in total equity ratio is 2.5%, for other legal persons, lifting and holding for the first time all the ban, lifted shares totaling 7.08% per cent shares in circulation. The unit of pressure.

　　On May 14, the securities times (www.stcn.com) the online column and investors exchange participant Hua securities analyst Tan Xianming, Hao Wei, Anhui huatai securities analyst Zhou Ziji, investment consulting analyst of the times, Dong Guan Fei Xiaoping securities analyst, here are some wonderful quiz playback. 　　Times online: Wan Bangda (300,055) Outlook how to? 　　Tan Xianming: Wan Bangda is one of the few industrial water treatment system for professional service providers, most of the businesses are mainly concentrated in the oil and China Shenhua two companies. Recent State “Twelve-Five” effect of wastewater treatment policies, very strong on the secondary market. Expected [...]

　　At the end of 2011, 2,339 comparable a-share company, 1554 made cash dividend proposal, than for 66.44%, total amount of cash is expected to reach 548.454 billion yuan. Rough estimate of the total households according to the shareholders at the end of last year, average shareholder distribution of a cash dividend of approximately $ 6,290. 　　Sector statistics, at the end of 2011, small Trojan are 32.077 billion yuan, per capita is $ 2,747; gem Trojan are 7.584 billion yuan, per capita is $ 2,937; shenhu Board Trojan 508.793 billion yuan, per capita is $ 6,979. Enjoy half of the dividends [...]

　　14th reporters from the Ministry of Finance informed that, upon approval of the State Council, 2012 Shanghai Municipality, Zhejiang Province, Shenzhen City, Guangdong Province, will continue to undertake local governments issue bonds in their own experiments. 　　Recently issued by the Ministry of the 2012 pilot local governments issue bonds in their own way clear pilot provinces (City) Government bonds by the Treasury agents servicing. 　　Way pointed out that the pilot provinces (cities) issued the annual issuance of government bonds management, total debt for the year shall not exceed the size limit to issue bonds in the year of the approval [...]

　　14th reporters from China’s Ministry of Finance informed that, upon approval of the State Council, 2012 Shanghai Municipality, Zhejiang Province, Shenzhen City, Guangdong Province, will continue to undertake local governments issue bonds in their own experiments. 　　Recently issued by the Ministry of the 2012 pilot local governments issue bonds in their own way clear pilot provinces (City) Government bonds by the Treasury agents servicing. 　　Way pointed out that the pilot provinces (cities) issued the annual issuance of government bonds management, total debt for the year shall not exceed the size limit to issue bonds in the year of the approval [...]

　　STCN flows Express (http://data.stcn.com/statisticalData.shtml) data shows that on May 11, in Shanghai and Shenzhen total outflow 8.144 billion yuan, net outflow in 4th consecutive trading days. Which, net outflow 5.011 billion yuan in Shanghai, a net outflow of $ 3.133 billion in Shenzhen. The main outflow of funds total $ 2.241 billion. 　　Indices, SSE 180 index shares total outflows 3.311 billion yuan, Shenzhen Chengzhi shares financial outflow of $ 351 million, CSI 300 index shares funds out of $ 4.057 billion. Equity scale, and circulation market share in outflows 3.062 billion yuan, China offers a share capital outflow of $ [...]

　　In 2012, slightly overweight later in the fourth quarter, brokers financial products in the collection action renders the flat state of the first quarter of 2012. Market value of their stakes reach 22.909 billion yuan, 4.469 billion yuan less than the previous quarter, declined to 16.32%. Gained 2.88% per cent compared to the first quarter, brokers show signs jiancang collection financial products. 　　Brokers financial products held by the first quarter of 2012, the collection stock number 535, 141 less than last quarter, declined to 20.86%. Among them, 138 by number of shares to increase its stake, 49 less than the [...]

　　In the 10 years since 2002, accumulated a-share listed companies is 2,468,015,000,000 $, where the largest shareholder share dividend of $ 1,305,712,000,000, up to 52.91%. With the increasing number of listed companies, and enhance profitability, Trojan has been gradually rising over the 10 years, per cent in 2002, up from $ per cent in 2011, an increase of up to 12 times. 　　Nearly 10 years of largest shareholder cash dividends ratio remained between 51%~55%, however, the company showed a significant difference. Statistics show that 2,074 comparable companies, 541 for the first 10 years of big shareholders to receive dividends in [...]

　　Dow Jones Newswires reported that China was considering creating a new mechanism, allowing no qualified foreign institutional investors (QFII) overseas pension fund investment in China’s large capital markets licence. 　　Reports slow person, relevant departments of the Chinese Government is considered to not have overseas retirement fund grants to local market access of QFII licence qualification. 　　At present, the Chinese Government has stepped up efforts to boost investor confidence in the sluggish domestic stock markets, specific measures including lowered transaction costs, reforming the rules of new listings and encourage long-term institutional investors such as pension fund into the stock market at [...]

　　Fujian Provincial Government recently introduced on financial services entities in the economic development of the article 11 notification of measures (hereinafter referred to as the circular), from direct financing of credit support, micro-enterprises, strengthening small and medium-sized financial services 11 financial services entities, such as economic development. Pingtan and Quanzhou development focus was mentioned. The circular pointed out that, to promote the construction of comprehensive reform of national financial services economy experimental zone of Quanzhou, Quanzhou in the State approved the establishment of the national financial and support services prior to the comprehensive reform of the real economy experimental zone [...]

　　Ministry of Finance recently issued the State-owned capital gains charge on 2012 annual notice, provisions subject Central cultural enterprises in State-owned capital gain calculated before income deductions prior year accumulated losses and then extract the statutory provident funds. 　　Laid down in the notice included in the scope of the Ministry of Finance of the State-owned capital management budget represents the fulfilment of investor responsibility Central culture declared this year to benefit from specific processes. For State-owned enterprises have wholly-or majority-owned subsidiaries of the company, Enterprise, should be addressed by the group or its parent company, 2011 consolidated financial statements reflect [...]

　　Recently in China, Japan and South Korea decided to start Japan-Korea FTA negotiations during the year. Research Institute for Northeast Asia regional economic cooperation and development of Commerce Deputy Director Li guanghui, told reporters, did not come from the establishment of trade will bring power to the economic development of the three countries, energy conservation and environmental protection, trade logistics, and many other industries are expected to benefit. 　　Compared to China, Japan and South Korea free trade area, the difficulty of establishing Sino-Korean free trade zone is considered relatively minor. Minister of Commerce Chen Deming and Korea officials said, will [...]

　　Recently in China, Japan and South Korea signed the investment agreement and decided to start Japan-Korea FTA negotiations during the year. China initiative, China adjacent to the locational advantages of Japan and South Korea, Japan-Korea economic cooperation model in the construction area, and positive consideration in our selection of regional cooperation, establishing industry base of cooperation of the three countries. In this regard, Qingdao Academy of social sciences, Liu Zhiting, a researcher in an interview with reporters, said the economy, Japanese-ROK free trade area negotiations are about to take substantive steps in, especially by virtue of location advantages of Qingdao, [...]

　　Central Bank slashed on 18th reserve, is expected to increase the supply of credit. However, analysts point out that, in the context of slowing economic growth in the real economy on credit there is a structural problem of insufficient demand, simply cut reserve requirements will not solve this problem, interest rate instruments or be sold. 　　Bank loan supply capacities at the promotion 　　UBS Securities believed that cut the deposit rate will raise the money multiplier to speed up currency circulation, which helps further relieve pressure on bank deposit-side, thereby indirectly improving banks ‘ ability to supply of funds on the [...]

　　Future development of industry, experts on Industry Research Department of the development research center of the State Council Wang Zhonghong count three of discord in the industry “notes”, that sort of “three squeeze” phenomenon: virtual economic squeeze on the real economy, the extrusion of large enterprises to small and medium enterprises, as well as State-owned enterprises to private firms, extrusion, and made a series of observations and recommendations. 　　Sound industrial transformation and upgrading of the incentive mechanism in stalemate 　　Shanghai Securities News: transformation and upgrading, improving the core competitive power of industries are “Twelve-Five” the main task of industrial development. [...]

　　Shanghai Securities News: you wrote, as the pressure increases, the consumption structure upgrading of resource and environment and “high cost time” arrival of industrial transformation and upgrading have no choice. What is the reason? 　　Li Zuojun: at present, the community, including the Government and enterprises, survival, and development costs are gradually improving, “high cost times” has arrived, only seeking to develop new industries to higher-value products, only through the industrial upgrading, to resist the pressure of high cost. 　　I stress, because China is still in the stage of industrialization in the late, industries and the development of the most important [...]

　　On May 13, Southwestern University of finance and family financial investigation and Research Center in Beijing, China releases national survey of family financial first China report. Report shows, in the family of stock market in China, earnings accounted for 22.27%, 80% family near break-even or loss, not to make money from the stock market. 　　As Southwest financial University together people’s Bank of China common carried out of a items major research project, the report total lasted three years, based on national 25 a province, and 80 a County, and 320 a community total 8,438 a family of sample data summary [...]

　　Fujian Provincial Government recently introduced on financial services entities in the economic development of the article 11 notification of measures (hereinafter referred to as the circular), from direct financing of credit support, micro-enterprises, strengthening small and medium-sized financial services 11 financial services entities, such as economic development. Pingtan and Quanzhou development focus was mentioned. The circular pointed out that, to promote the construction of comprehensive reform of national financial services economy experimental zone of Quanzhou, Quanzhou in the State approved the establishment of the national financial and support services prior to the comprehensive reform of the real economy experimental zone [...]

　　And open compared to spindle Wenzhou private finance for financial reform, is supposed to be promoting the financial structural reform in Shanghai City–this is the building of Shanghai international financial center needs, is the deepening reform of financial need. Select Shanghai as a pilot city for the reform of China’s financial structure, capital account liberalization and financial regulatory reform both of the pilots, both against the risk of full implementation raises system need, for Shanghai, and more by 2020 to create urgency in international financial centres. 　　At the global financial landscape, depth changes in trade patterns have been in nearly [...]

　　China Securities Regulatory Commission disclosed yesterday evening, the Committee will be held on May 18 audit treasure, should flow in Zhejiang Province mechanical and electrical, new electrical appliance, free food, biological, Ai Bisen photoelectric safety control technology, the new Earth, green League information and information companies IPO application; and applications for disclosure of Haitian flavoring first agreed, information e-11 postponing the vote. 　　Disclosure materials displayed, Haitian flavoring to be 79 million shares issued, after the release of total equity $ 790 million, raising good soy sauce seasoning 1.5 million tons extension project into the sea days.

　　Recently, the political instability of the eurozone and the United States launched QE3 and overall worse-than-expected economic data weakening expected outbreak of risk events such as focus, panic in global markets, European and American stock markets and the sharp fall in global commodity prices. Benefit from the “reform dividend” of domestic stock index after a short resistance, also follows global markets lower consecutive, not independence to continue without interference from external markets since April’s rally, second drop is expected to meet during the year also failed to stabilising the market stopped falling. 　　Review April index of independence rally, the key [...]

　　PE/VC shuffle trend more evident, as the industry increasingly fierce competition, good projects are increasingly hard to find, at this point, some flexibility on the PE/VC start at a policy focused support of microfinance companies. 　　In late March, financial reform testing district of Wenzhou general plan approved by the State Council, an important element of which is supporting the participation of private capital initiated the establishment of small loan companies, this road became the capital of the small loan industry as one of the focus of attention, especially has thrown up PE institutions and listed companies. 　　This reporter has learned, [...]

　　While the macro-economic data fell short of expectations, while the policy of “underpin” the increase in the fine tuning. Facing economic “down” policy “up”, agglutination to 2,400 shocks in the market. At the same time, Fund Manager of significantly differentiated, optimism of fund managers gallon significantly, bearish on the huge “cut bin”. 　　According to Oriental securities estimation, market a certain correction last week, but the positions of the Fund have not decreased significantly, and after discounting the effect of market price, also is an active gallon slightly. Worthy of note is, from the Fund, jiancang quantity increases by comparison, as [...]

　　Recently, the Ministry of culture publications of the Ministry of the “Twelve-Five” culture during the period of reform and development plan. Brokers believe that culture of long-term planning and policy-intensive introduction of follow-up will be introduced a substantive policy, recommends hyper-media distribution plate. 　　The plan pointed out, the “Twelve-Five” period, the culture industry in the management of the cultural sector to increase value per cent average annual growth in new 20%, 2015 at least double than the 2010 year, achieving a multiplier. Guotai Junan securities, pointed out that, according to the statistical data, in 2010, the cultural sector management culture [...]

　　On Monday, the deposit rate cut was to sing, in Shanghai and Shenzhen stock index put on advance low again. Since the beginning of this round drop cycle, “will receive every drop of yin” spell is always hung over the a-share market. Organizations tend to feel that the passivity of “reducing” for the stock market’s positive role limited, short term market continues to face adjustment pressures. 　　Central Bank reduced reserve requirements of the stimulus, both Shanghai and Shenzhen stock markets jumped advance on Monday, fell quickly but a moment, after fighting near huzhi at 2,395. Afternoon stock brokers such as [...]

　　Shanghai venture capital fund venture capital funds and the third cooperation venture fund Conference held in Shanghai in the morning of 14th. This issue of cooperation fund has identified 17 fund management team, is expected to raise funds total $ 7.6 billion, applying for about $ 1.4 billion Fund to buy shares. 　　It is understood that on December 20 last year, fund leading Group Office of publication guide to fund the third instalment report. As of March 20, there are 50 units to submit applications for eventually accepting applications for 39. Shanghai Trade Association of venture capital, VC, and due [...]

　　Global economic growth is becoming the focus of investors worry in her eyes. From professional EPFR fund flows-monitoring bodies (emerging market investment fund research firm) published the latest data show that fund categories that are closely linked to economic growth has been through a tough week. Energy Fund “hemorrhagic” hit 56 week highs, investors had 815 million dollars of funds withdrawal from the commodity funds. 　　According to EPFR, gentle high crude oil production, inventory and demand energy fund of negative factors and worries about global economic growth of commodity funds frustrated. 　　Overall, the 9th week, Bond Fund inflows tracked by [...]

　　Face of the impact brought about by the European debt crisis, hedge funds choose accelerated flight commodities. United States commodity futures trading Commission data released on Friday showed that commodity prices fell to a four-month low last week amid other fund managers and hedge funds 20% reduction in commodity warehouses, approximately US $ 18 billion. 　　As Greece formed a new Government deadlocked, commodity positions its biggest fall since November last year. Under the United States commodity futures trading Commission data, as of the week of May 8, United States 18 drop in commodity futures and options contracts NET bin 19% [...]

　　It has been learned that, the largest classification of changsheng celebration after take the opportunity of transformation of the Fund, will position down to very low levels of near-zero. And today is its limited success during first day of redemption, the industry seems, into index rating fund new and easier to hold lower positions the opportunity go into battle with a light Pack. 　　According to the announcement, May 15 to May 21, changsheng celebration 800 index rating Fund will usher in a period of 5 days and limited success during foreclosure. To ensure that net of stability during the transition, [...]