Research On The Risk Of Equity Pledge Of Company A

In recent years,China's economic growth has slowed down,economic structural adjustment has accelerated,and prevention of systemic risks has been placed in the most important position.Banks have contracted credit,and listed companies have faced increasingly serious financing constraints.In order to solve the financing dilemma,equity pledge financing has become a very important financing channel for listed companies.However,with the rapid development of equity pledge business,the risk of equity pledge business has gradually been exposed In recent years,the risk of default of equity pledge business of large shareholders has occurred frequently,resulting in heavy losses for listed companies and securities companies.This paper studies the risks,reasons and preventive measures ofCompany A's equity pledge business from the perspective of a securities company and the case of Qianshan Pharmaceutical Machinery's default First,The relevant concepts,risk characteristics and development situation of equity pledge were sort out.Secondly,he current situation and The risks of company A's equity pledge business,and The company A's Qianshan Pharmaceutical Machinery equity pledge business were introduced.Thirdly,with Liu Xianghua,the major shareholder ofQianshan Pharmaceutical Machinery,as the research object of Company A's default,the impact of Company A's default was studied in terms of credit risk,market risk,and moral hazard.And based on this,it focused on the reasons why Company A faced the risk of equity pledge,and found that Company A lacked strict due diligence,weaker risk awareness,insufficient risk measures,weak audit control,and insufficient pledge rate setting problem.Finally,the company's risk prevention measures were proposed in three stages:before,during and after the event.That is,in the due diligence stage,Company A needs to carefully select the pledgee,conduct due diligence,exclude potential risks of the project,clarify the source of repayment,establish a target bond library,etc.;In the contract signing stage,Company A should scientifically set up Pledge rate,Establish a dedicated fund account;In the post-event supervision stage,Company A should pay attention to the operating conditions of the company where the pledged shares are located,establish sufficient risk reserves,and actively expand the channels for the disposal of pledged shares.