The China Securities Regulatory Commission suspended cross-border fixed-income film and television VR and other restructuring and refinancing

Recently, media reports said that they learned from people familiar with the matter that the China Securities Regulatory Commission has stopped cross-border fixed growth of listed companies, involving four industries: Internet finance, games, film and television, and VR.

Recently, media reports said that they learned from people familiar with the matter that the China Securities Regulatory Commission has stopped cross-border fixed growth of listed companies, involving four industries: Internet finance, games, film and television, and VR.

According to statistics from the China Investment Research Institute, in April this year alone, 51 A-share listed companies in the two cities implemented targeted additional issuance plans, with a refinancing amount of 177.887 billion yuan, a month-on-month increase of 83.95%. At the same time, 90 A-share listed companies have announced private additional issuance plans this month, a month-on-month increase of 26.76%, with an estimated total financing amount of 238.865 billion yuan.

Earlier media reports said that on March 1, the issuance department of the China Securities Regulatory Commission verbally notified various intermediaries of the guidance on three-year fixed-increase projects. The opinion stated that regardless of whether the three-year fixed increase is reported to the meeting or not, if the plan is adjusted, the price can only be raised higher but not lower, or the price can be changed to inquiry issuance. The pricing benchmark date is encouraged to use the first day of the issuance period.

At its weekly meeting, the China Securities Regulatory Commission responded to the recent rumors that "Chinese stocks have suspended the listing of A-shares", saying that it is conducting research and analysis on the potential impact of Chinese companies delisted overseas and returning to A-shares through IPO mergers and acquisitions.

A Shanghai Baodai who had fixed value-added projects at the meeting also explained that the purpose of this measure is mainly aimed at cross-Internet industry fundraising projects."Nowadays, most listed companies will go online when making fixed value-added projects, especially listed companies in traditional industries. The regulatory authorities have difficulty understanding the Internet-related fundraising projects of listed companies in fixed value-added projects. I hope that intermediaries can explain the fundraising projects more clearly to the regulatory authorities and require intermediaries to control such projects more strictly."

Now, the China Securities Regulatory Commission has once again tightened its mouth on cross-border fixed increases and stopped cross-border fixed increases in four types of industries to control risks. At the same time, the current ban is also to avoid listed companies from using the above four types of virtual industries to hype through capital means.

"The CSRC will definitely not tolerate such mergers and acquisitions that are aimed at hyping up the subject matter." A person close to the China Securities Regulatory Commission said.

Editor: yvonne