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皇氏集团以“隐藏承诺”对抗限售股解禁败诉,强制执行的限售股解禁存何争议?
Di Yi Cai Jing· 2025-05-09 11:21
Core Viewpoint - The case highlights the legal implications of companies using "hidden commitments" to counter the lifting of lock-up restrictions on shares, which can lead to information disclosure violations and doubts about the authenticity of such commitments [1][2]. Group 1: Case Background - The dispute involves Dongfang Securities and Huangshi Group, stemming from a 10-year-old acquisition transaction related to a share pledge repurchase business default [2]. - Huangshi Group issued shares to Li in 2014 for acquiring 100% of Yujia Film and Television Group, with performance commitments tied to the lifting of share restrictions [2]. - Li pledged the shares to Dongfang Securities for a repurchase transaction, but due to default, the shares were transferred to Dongfang Securities [2]. Group 2: Legal Proceedings - Dongfang Securities sued Huangshi Group for infringing shareholder rights, while Huangshi Group claimed it was not at fault and that Dongfang Securities should adhere to Li's commitments [3]. - Huangshi Group provided a "Commitment Letter" during the litigation, asserting that the conditions for lifting the restrictions were not met [3]. - The court found that Huangshi Group had previously confirmed the completion of performance commitments exceeding 100% from 2014 to 2017 [3]. Group 3: Judicial Challenges - The case raises questions about the effectiveness of lock-up commitments in relation to transferees and whether judicial execution can nullify such commitments [4]. - There are numerous cases where public commitments have been used to counter requests for lifting restrictions, with companies generally prevailing [4]. - The focus of the dispute includes the authenticity of the "Commitment Letter," the validity of shareholder resolutions, and the determination of damages for non-compliance [5][6]. Group 4: Court's Ruling - The Shanghai Financial Court ruled that companies must cooperate in lifting restrictions when the relevant commitments have been fulfilled, and cannot use undisclosed hidden commitments as a defense [6]. - The court emphasized the importance of preventing shareholders from exploiting information asymmetry to gain short-term benefits, which could harm the company and other shareholders [6].
今日看点|何立峰将访问瑞士并举行中美经贸高层会谈
Jing Ji Guan Cha Bao· 2025-05-09 00:58
Group 1 - Vice Premier He Lifeng will visit Switzerland from May 9 to 12 for high-level economic and trade talks with U.S. Treasury Secretary Janet Yellen [1] - The State Council Information Office will hold a press conference regarding economic and trade cooperation between China and Central and Eastern European countries, along with the fourth China-CEEC Expo and International Consumer Goods Expo [3] Group 2 - On May 9, a total of 13 companies will have their restricted shares unlocked, with a total unlock volume of 141 million shares, amounting to a market value of 1.447 billion yuan [4] - 28 companies disclosed stock repurchase progress on May 9, with 7 companies announcing new repurchase plans, and 6 companies having their plans approved by shareholders [5]
今日看点|国新办将举行《中华人民共和国民营经济促进法》有关情况新闻发布会
Jing Ji Guan Cha Wang· 2025-05-08 00:28
Group 1 - The State Council Information Office will hold a press conference regarding the "Promotion Law of Private Economy of the People's Republic of China" on May 8, with officials from various government departments providing insights and answering questions [2] - The Ministry of Commerce will hold its first regular press conference of May on the same day, focusing on recent key work in the business sector [3] Group 2 - Starting from May 8, 2025, the People's Bank of China announced a reduction of 0.25 percentage points in the personal housing provident fund loan interest rates, with the new rates set at 2.1% for loans of 5 years or less and 2.6% for loans over 5 years for the first home [4] - A total of 10 companies will have their restricted shares unlocked today, with a combined unlock volume of 246 million shares, amounting to a market value of 1.071 billion yuan based on the latest closing prices [4] - Among the companies with significant unlock volumes, Kangmei Pharmaceutical, Guotai Haitong, and Changyang Technology lead with unlock volumes of 209 million shares, 27.8 million shares, and 3.66 million shares respectively [4] Group 3 - A total of 86 companies disclosed stock repurchase progress on May 8, with 89 related announcements made [5] - Notably, Guomai Culture proposed a repurchase of up to 100 million yuan, while Zhiyuan New Energy plans to repurchase up to 66 million yuan [6] - Two companies had repurchase plans exceeding 10 million yuan approved by their shareholders' meetings, with the highest repurchase amounts proposed by Zhongke Xingtou, Shudao Equipment, and Nanjing Public Utilities [6]
今日看点|国新办将举行“一揽子金融政策支持稳市场稳预期”有关情况新闻发布会
Jing Ji Guan Cha Bao· 2025-05-07 00:46
(原标题:今日看点|国新办将举行"一揽子金融政策支持稳市场稳预期"有关情况新闻发布会) 经济观察网讯 5月7日重点关注的财经要闻与资本市场大事: 1、国新办将举行"一揽子金融政策支持稳市场稳预期"有关情况新闻发布会 5月7日,190家公司共发布192个股票回购相关进展。其中,3家公司首次披露股票回购预案,5家公司回 购方案获股东大会通过,178家公司披露股票回购实施进展,5家公司回购方案已实施完毕。 从首次披露回购预案来看,当日共3家公司股票回购预案金额超千万。东方证券、道通科技、银轮股份 回购预案金额最高,分别拟回购不超5.0亿元、2.0亿元、1.0亿元。从股东大会通过回购预案来看,当日 共3家公司回购预案超千万。嘉益股份、中伟股份、永杉锂业回购金额最高,分别拟回购不超1.6亿元、 8632.98万元、2879.88万元。 4、今日有5308亿元7天期逆回购到期 4月30日,央行开展5308亿元7天期逆回购操作,操作利率1.50%,今日到期。 5、美国当周EIA原油库存、欧元区3月零售销售月率等数据将公布。 5月7日上午9时,国新办将举行新闻发布会,中国人民银行、国家金融监督管理总局、中国证券监督管 理委员 ...
今日看点|中国4月PMI将公布
Jing Ji Guan Cha Bao· 2025-04-30 01:08
Group 1 - China's April PMI will be released on April 30, indicating the economic activity level [1] - Domestic refined oil prices will be adjusted at midnight on April 30, with a mixed probability of price increase and stability. Year-to-date, there have been eight adjustments, resulting in a decrease of 425 yuan per ton for gasoline and 410 yuan per ton for diesel compared to the end of last year [1] - A total of 10 companies will have their restricted shares unlocked today, with a total unlock volume of 44.7 million shares, amounting to a market value of 767 million yuan [1] Group 2 - On April 30, 73 companies disclosed 76 stock repurchase progress reports, with 51 companies announcing new repurchase plans. The highest repurchase amounts were from China Railway, Weichai Power, and Zhongtai Securities, with proposed repurchase amounts of 1.6 billion yuan, 1 billion yuan, and 500 million yuan respectively [2] - Among the companies that had their repurchase plans approved by shareholders, WuXi AppTec, Hualu Hengsheng, and Yapu Co. had the highest proposed repurchase amounts of 1 billion yuan, 300 million yuan, and 200 million yuan respectively [2] - The highest repurchase amounts implemented were by Longqi Technology, Changfei Optical Fiber, and Guodian NARI, with repurchase amounts of 201 million yuan, 110 million yuan, and 99.9 million yuan respectively [2]
今日看点|国新办将举行稳就业稳经济推动高质量发展政策措施有关情况新闻发布会
Jing Ji Guan Cha Bao· 2025-04-28 01:22
Group 1 - The State Council Information Office will hold a press conference on April 28 to discuss policies related to stabilizing employment and the economy, promoting high-quality development [1] - The National Development and Reform Commission, Ministry of Human Resources and Social Security, Ministry of Commerce, and the People's Bank of China will present relevant measures and answer questions [1] Group 2 - The China Council for the Promotion of International Trade will hold a press conference on April 28 to release the global trade friction index for February 2025 and other trade-related data [3] - The press conference will also cover the latest preparations for the third Chain Expo and new policies to support foreign trade [3] Group 3 - The China Meteorological Administration will hold a press conference on April 28 to discuss the national weather and climate characteristics for April, as well as predictions for May [4] Group 4 - The first "Beijing Xiangshan Forum" will take place from April 28 to 30, focusing on global security challenges and opportunities, with participation from over 200 defense officials and experts from more than 30 countries [5] Group 5 - On April 28, a total of 17 companies will have their restricted shares released, amounting to 1.727 billion shares with a total market value of 24.677 billion yuan [6] - Companies with the highest share unlock volumes include China Resources Materials, Chengda Bio, and Wangbian Electric [6] Group 6 - 19 companies announced stock repurchase progress on April 28, with 18 companies disclosing new repurchase plans [7] - The highest repurchase amounts were reported by Tianyuan Environmental Protection, Jinli Permanent Magnet, and Zhenhua Heavy Industry [7] Group 7 - A total of 176 billion yuan in 7-day reverse repos will mature today, with an operation rate of 1.5% [8]
智通A股限售解禁一览|4月28日
智通财经网· 2025-04-28 01:04
智通财经APP获悉,4月28日共有27家上市公司的限售股解禁,解禁总市值约317亿元。 今日具体限售解禁股情况如下: | 股票简称 | 股票代码 | 限售股类型 | 解禁股数 | | --- | --- | --- | --- | | 时代新材 | 600458 | 股权激励限售流通 | 649.44万 | | 中航沈飞 | 600760 | 股权激励限售流通 | 361.77万 | | 中钢天源 | 002057 | 股权激励限售流通 | 424.38万 | | 万讯自控 | 300112 | 股权激励限售流通 | 171.15万 | | 新研股份 | 300159 | 股权激励限售流通 | 540万 | | 吉鑫科技 | 601218 | 股权激励限售流通 | 54.63万 | | 凯龙股份 | 002783 | 股权激励限售流通 | 9.74万 | | 东方精工 | 002611 | 股权激励限售流通 | 88万 | | 星帅尔 | 002860 | 股权激励限售流通 | 30.2万 | | 星光农机 | 603789 | 股权激励限售流通 | 513.57万 | | 口子窖 | 603589 | 股权 ...
珠海华发实业股份有限公司 关于向特定对象发行股票之部分限售股上市流通的公告
登录新浪财经APP 搜索【信披】查看更多考评等级 本公司董事局及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏,并对其内容 的真实性、准确性和完整性依法承担法律责任。 重要内容提示: ● 本次股票上市类型为非公开发行股份;股票认购方式为网下,上市股数为180,911,500股。 本次股票上市流通总数为180,911,500股。 ● 本次股票上市流通日期为2025年5月6日。 一、本次限售股上市类型 1、本次限售类型:向特定对象发行限售股 2、监管部门审核时间 珠海华发实业股份有限公司(以下简称"公司")于2023年9月13日收到中国证券监督管理委员会于2023 年9月6日出具的《关于同意珠海华发实业股份有限公司向特定对象发行股票注册的批复》(证监许可 〔2023〕2084号),同意公司向特定对象发行股票的注册申请,该批复自核准发行之日起12个月内有 效。 3、股份登记时间 本次发行新增股份已于2023年10月31日在中国证券登记结算有限责任公司上海分公司(以下简称"中证 登上海分公司")办理完毕登记托管相关事宜,中证登上海分公司出具了《证券变更登记证明》。 4、锁定期安排 ■ 二、本次限售股 ...
下周关注丨4月PMI数据将公布,这些投资机会最靠谱
Di Yi Cai Jing· 2025-04-27 05:16
Economic Indicators - The April manufacturing Purchasing Managers' Index (PMI) data will be released on April 30, with March's PMI recorded at 50.5%, a 0.3 percentage point increase from the previous month, marking the highest level since April 2024 [2] - The composite PMI output index for March was 51.4%, indicating increased business activity, with manufacturing production index at 52.6% and non-manufacturing business activity index at 50.8% [2] Oil Price Adjustment - A new round of refined oil price adjustments will take place at 24:00 on April 30, with a projected increase of 60 yuan per ton based on a reference crude oil price of $65.34 per barrel, reflecting a change rate of 1.46% as of April 25 [3] U.S. Economic Data - The U.S. will release its first-quarter GDP data on April 30, with Federal Reserve Chairman Jerome Powell indicating a potential slowdown in economic growth for the first quarter of 2025 compared to the previous year's strong performance [4] - The U.S. non-farm payroll data for April will be published on May 2, following a March increase of 228,000 in seasonally adjusted non-farm employment, with the unemployment rate slightly rising to 4.2% [5] Stock Market Developments - Over 4.07 billion yuan worth of locked-up shares will be released next week, with 24.76 billion shares set to be listed, including significant unlocks from companies like China Resources Materials and Chengda Biology, each exceeding 5 billion yuan [6] New Stock Opportunities - Two new stocks will be issued from April 28 to April 30, with Zairun New Energy on the ChiNext and Tiangong Co. on the Beijing Stock Exchange, collectively raising approximately 1.194 billion yuan [11]
下周,解禁市值达420亿,戎美股份流通盘扩容超290%
Guo Ji Jin Rong Bao· 2025-04-25 10:26
下周(4月28日-5月4日),有更多A股企业迎来限售股解禁,但解禁总市值较本周将有所降低,且没有解禁市值超过百亿的股票。 东方财富Choice数据显示,下周A股市场将有54只股票面临限售股解禁,合计解禁数量为24.87亿股。按照4月25日收盘价计算,上述股票合计 解禁市值为423.54亿元。而仅在下周一(4月28日)就有31股票解禁,合计解禁市值为277.80亿元。 从解禁股情况来看,下周解禁市值最高的股票是华润材料(301090.SZ),4月28日解禁市值61.76亿元。排在第二位的是成大生物 (688739.SH),4月28日将解禁市值56.30亿元。 即将解禁的股票中,流通盘将增加超100%的有5只,其中,戎美股份(301088.SZ)的流通盘增加290%以上。 制图:佘诗婕 单股解禁市值百亿以下 从解禁市值情况来看,上述54只股票按最新收盘价计算,华润材料、成大生物、深城交(301091.SZ)解禁市值居前,解禁市值分别为61.76亿 元、56.30亿元、40.97亿元,均为追加承诺限售股份上市流通。 | 序 | 代理 | 名称 | 解禁日期 | 本期解禁数量 | 本期解禁市值 解禁股份类型 | | ...