A Case Study Of Frequent Reduction Of Large Shareholders Of Tianji Science And Technology

After the reform,the stock market of our country has been further improved,but with the development of the stock market and the lifting of the ban of "non-tradable share",more and more ways and means of reducing the holding of large shareholders have emerged,and a series of methods such as bridge reduction have emerged,seriously disrupting the development of the stock market.As a result,in July 2015 and January 2016,the SFC issued a number of regulations on shareholders' and directors' reduction respectively,intending to regulate the behavior of stock market reduction.However,on May 27,2017,just one year later,the SFC issued a number of regulations(No.9)on the reduction of listed shareholders and directors.It can be seen that the phenomenon of reduction in the stock market is more serious,while No.9 further improves the previous reduction provisions issued in 2016.As an IT service listed company,the controlling shareholder,Dong Jiangao and his relatives of Tianjie Technologies have reduced their holdings by more than one billion yuan.It is shocking that Tianjie Technologies has been listed for less than eight years,and its total profit is less than one third of the reduction amount.This paper chooses the subject of shareholder reduction as the research,based on the existing theory of shareholder reduction,and combined with the case study of Tianji Science and Technology Co.,Ltd.,to explore the motivation,mode and substantive impact of shareholder reduction.By analyzing the case of large shareholder reduction of Tianjie Science and Technology Co.,Ltd.and combining with the existing theory of shareholder reduction,this paper finds that the major shareholder reduction of listed companies mainly seeks to maximize their own interests.In this paper,the main manifestations are cash gain and reduce investment risk.In addition,there are also parts to better introduce strategic investors,so as to optimize the company's ownership structure.At the end of this paper,we also get the corresponding inspiration: there are endless cases of large shareholders' disorderly reduction.Therefore,in the case of large shareholders' reduction in management companies,we must coordinate internal and external,constantly optimize the company's internal ownership structure,establish equity restraint system,improve corporate governance programs,conscientiously perform the work of external information pre-disclosure,so that the company's daily operation and decision-making can be thorough.Minghua makes the steady operation and development of the company become the main interest center of shareholders;the external need for the state to promulgate relevant laws and regulations,which must be forward-looking,prevent micro-gradual,so as to make the stock market of our country develop healthier.The contribution of this paper is to validate the previous theory on the motivation of shareholder reduction by case study,and put forward relevant suggestions on shareholder reduction in view of the emerging sector of our country,Kechuang board,because it is a new sector in our country and an important pilot sector in our stock market.In order to maintain the stability of this sector,we must have large shareholders in this sector.Stricter reduction restrictions should be adopted so that it can play its due role in the stock market.