视频|刘纪鹏：建议以“预设减持底价”机制破解大股东减持难题，建议大股东3800点别减持，等到5000点再减持

Core Viewpoint - The article discusses a significant proposal by Liu Jipeng, a professor at China University of Political Science and Law, to establish a "circulating bottom price" for major shareholders' stock reductions, aiming to align their interests with those of small investors and the overall market health, thereby activating the intrinsic growth potential of the A-share market [1][2]. Group 1 - Liu Jipeng highlights a major contradiction in the current market where major shareholders can profit from stock reductions even when company performance is poor, undermining investor confidence [1]. - He criticizes the practice of major shareholders selling stocks at low prices while the company's performance is lacking, creating a vicious cycle of declining stock prices and investor confidence [1]. - The proposed solution involves setting a predetermined "circulating bottom price" for major shareholders' stock reductions, which must be significantly higher than the current market price [2]. Group 2 - The operational model suggests that if a company's stock price is currently 15 yuan and the market consensus believes it should be 22 yuan, then 22 yuan would be the set bottom price for major shareholders to reduce their holdings [2]. - This bottom price must be publicly disclosed through annual and interim reports, creating a robust market supervision mechanism to ensure transparency in major shareholders' actions [2]. - Liu Jipeng believes that this mechanism will boost market confidence, as it represents a public commitment from major shareholders regarding the company's future value [2]. Group 3 - The proposal aims to drive value creation by binding major shareholders' interests to high stock prices, compelling them to focus on improving operations and performance to meet the reduction conditions [2]. - It is expected to alleviate the impact of stock reductions by channeling selling pressure into a higher expected price range, thus creating space for steady stock price increases [3].