信息披露严肃性

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南开大学金融发展研究院院长田利辉:同花顺“朝令夕改”的行为严重损害了信披严肃性
Xin Jing Bao· 2025-09-12 08:34
登录新浪财经APP 搜索【信披】查看更多考评等级 同花顺实控人减持"见光死"背后,券商牌照仍是猜想 贝壳财经原创出品 记者 胡萌 "一个2000亿市值的公司,为何如此儿戏?" 同花顺抛出减持计划,争议逐渐变成了投资者的公开质疑。 9月5日,同花顺实际控制人、董事长易峥和股东凯士顺拟减持不超过138.31万股,占总股本0.26%。然 而,公告中一句"旨在让渡市场参与机会"迅速引起市场热议,股民纷纷调侃这是"高位接盘邀请函"。 消息一出,同花顺股价开盘应声而跌。而剧情很快发生反转,同花顺再次发布公告称,"鉴于各种因 素,易峥决定提前终止本次减持计划。" 从官宣拟减持到终止仅隔了一个交易日,这也被网友戏称为"减持一日游"。对此,业内人士表示,这 种"朝令夕改"的行为严重损害了信息披露的严肃性。一旦公布减持计划,就应恪守承诺,而非随市场情 绪反复调整。这不仅让投资者无所适从,更削弱了市场对信息披露的信任基础。 9月10日,新京报贝壳财经记者就"减持一日游"问题致电同花顺及公司客服,截至发稿时尚未获得回 应。 01 减持"一日游" 9月5日(上周五)晚间,同花顺公告,实际控制人、董事长易峥和股东杭州凯士顺科技有限公司( ...
“一个2000亿市值的公司,为何如此儿戏?”
Xin Jing Bao· 2025-09-11 01:11
Core Viewpoint - The controversy surrounding Tonghuashun's share reduction plan has raised significant investor concerns regarding the company's commitment to information disclosure and market integrity [1][4]. Group 1: Share Reduction Announcement - On September 5, Tonghuashun announced that its actual controller and chairman, Yi Zheng, along with shareholder Kaishun, planned to reduce their holdings by up to 138.31 million shares, accounting for 0.26% of the total share capital [2][3]. - The planned reduction was estimated to yield approximately 500 million yuan based on the closing price of 361.5 yuan per share on September 5, with Yi Zheng personally set to cash out around 247 million yuan [2][3]. Group 2: Market Reaction - Following the announcement, Tonghuashun's stock price fell nearly 5% on the first trading day, September 8, reflecting negative investor sentiment [3][6]. - The next day, on September 9, the company announced the termination of the reduction plan, citing various factors, leading to public ridicule of the situation as a "one-day reduction" [3][4]. Group 3: Information Disclosure Concerns - Industry experts criticized the abrupt change in the reduction plan as damaging to the seriousness of information disclosure, emphasizing that companies should adhere to their announced plans rather than adjusting based on market sentiment [4][6]. - The need for a robust "decision-disclosure-execution" mechanism was highlighted to prevent companies from making inconsistent statements and to maintain investor trust [4]. Group 4: Company Performance and Market Position - Despite the recent controversy, Tonghuashun's stock has shown strong performance, reaching a peak of 426.88 yuan in mid-August 2023, with a significant increase in stock price since September 24, 2022 [6][7]. - For the first half of the year, Tonghuashun reported revenues of 1.779 billion yuan, a year-on-year increase of 28.07%, and a net profit of 577 million yuan, up 46.1% [6][7]. - The company has not pursued a brokerage license, despite speculation, and continues to focus on its core business as a leading internet financial information service provider [7].