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近十年企业贷款利率变化_股权质押纠纷中多家证券公司计算的资产减值

国家融资的渠道有哪些

    下载APP 阅读本文更深度报道图虫创意 图“大股东质押股票跌破平仓线,按照现在的政策不允许卖出,公司只能面临资产减值的损失。”一位券商?#30340;?#20154;士向《国际金融报》记者感叹道。今年以来,东兴证券、招商证券(600999)、华融证券、天风证券分别披?#35835;?#22810;起股权质押纠纷的诉讼事项,涉及金额合计近50亿元。其中,华融证券涉及金额接近30亿元,天风证券涉及金额超10亿元。据统计,年内已有多家券商发布计提资产减值准备公告,资产减值合计近30亿元。那些莽撞质押不计后果的大股东们,将所有风险都“甩锅?#22791;?#20102;券商,而券商纾困计划也成为防范股权质押风险的关键。无奈之下选择诉讼该来的迟早会来,在雷声滚滚的2018年,并不是每家机构都能顺利达成股权质押这类信用业务,某些券商还不?#20063;?#20013;多只大雷股,而协商无门的券商只好选择了诉?#29616;?#36335;。2月20日,天风证券发布了公司近12个月内未披露的涉及诉讼(仲裁)事项。其中,有四项诉讼涉及到股权质押项目上的纠纷,牵扯到多家公司和自然人,涉及金额合计高达11.71亿元,占所有诉讼事项金额的99%。具体来看,天风证券发起的四起股权质押诉讼涉及3只股票,分别是北?#37117;?#22242;、方盛制药(603998)、银亿股份(000981),涉及金额分别为3.97亿元、2.77亿元、4.97亿元。其中,天风证券与孔永林、银亿控股有限公司的股权质押合同纠纷均涉及银亿股份。银亿股份于2018年8月21日跌破平仓线,孔永林仍未履行补充担保义务,构成违约,涉及金额为3.46亿元。同?#20445;?#38134;亿控股方面与天风证券达成的股权质押项目,也因前者未能补充担保构成违约,涉及金额为1.51亿元。?#29575;?#19978;,银亿股份也一直在积极寻找投资方,但由于出资份额的拟受让方暂未?#33539;ǎ?#20877;加上短期内资金周转困难,导致“银亿房地产股份有限公司2015年面向合格投资者公开发行公司债券(第一期)”未能如期偿付应付回售款本金。重重压力之下,2月18日,银亿股份方面宣布重组失败。截至记者发稿,天风证券方面表示,暂不方便回应此事。相比天风证券,华融证券踩雷的项目更多。华融证券旗下多只债券于2月12日发布的重大诉讼公告?#20801;荊?#26377;6起合同纠纷涉及股权质押项目,共涉及5只股票标的,涉及金额高达29.58亿元。在这5只股票中,赫然出现*ST保千、*ST天马、神雾环保(300156)这样的大雷。?#37038;?#29702;时间来看,华融证券踩雷股权质押几乎贯穿了去年所有季度,而击穿平仓线的*ST保千、*ST天马股价更是跌破2元。其中,华融证券踩雷*ST保千的股权质押项目涉及金额高达14亿元。然而令人意外的是,华融证券在公告中称,上述诉讼事项对其生产经营、财务状况及偿债能力无重大不利影响。与华融证券踩雷ST股“同病相怜”的,还有招商证券?#25237;?#20852;证券。1月23日晚间,招商证券发布公告称,请求判令康得集团向公司偿还债权本金1亿元,支付利息、违约金并承担诉讼?#25276;?#23454;现债权的费用。据了解,招商证券在2018年4月与康得集团签订的股票质押式回购交易协议,康得集团将持有的1327股ST康得新(002450)股票质押给前者,交易金额1亿元。出现违约的原因是,ST康得新在2018年6月1日至11月15日停复牌前后,出现了连续四个跌停板,股价直接跌穿平仓线。截至2019年1月23日,ST康得新复牌后一?#20540;?#20572;,收报5.73元,相比质押时候的股价20.54元下跌超70%。1月8日,东兴证券向法院提起诉讼请求,请求法院判令虞云新清偿融资款本金近7亿元,涉及股权质押项目的标的为ST新光(原新光圆成)。在新光圆成戴帽之后,股价依旧一路下跌,现已跌至2.68元。部分券商深受影响股权质押业务曾经作为券商虎视眈眈的利益蛋糕,?#26377;?#36215;到频频爆雷仅走过5年时间。《2018年度股票质押回购风险分析报告》数据?#20801;荊?018年涉及控股股东及其一致行动人的股权质押违约合计179笔,来自82家上市公司,合计违约金额482亿元。目前,虽然众多券商在股权质押业务中设立了预警线、平仓线等措施,来降低质押股票价格下跌带来的风险,然而在实际操作中,对于已经击穿平仓线的股票,券商往往会通过协商来解决问题。但大多数上市公司大股东或自然人并未?#28304;?#25552;供补充担保,协调未果的券商只好选择拿起法律的武器。“一般来?#25285;?#23545;于股权质押违约,券商通常有两种做法:一是直接上黑名单;二是?#31185;劍?#38656;要交中国证券登记结算有限公司去处理此事。”券商从业人士罗某告诉《国际金融报》记者。“但是如果采取?#31185;?#25514;施,有些限售股需要等到解禁,即便是流通股,也需要满足高管及股东的相关减持规定强行平仓。”罗某表示。股权质押作为重要收入来源之一,部分券商已经深受其影响。据券商2018年12月财务简报披露,多家券商当月净利润转亏,兴业证券(601377)推测,原因可能在于计提了和股权质押业务相关的减值。据《国际金融报》记者不完全统计,今年以来,共有太平洋证券、长江证券(000783)、方正证券(601901)等10家券商发布计提资产减值准备的公告,其中,买入返售金融资产合计高达近30亿元。太平洋(601099)证券发布公告称,单项计提资产减值准备共计人民币9.72亿元。其中,买入返售金融资产计提资产减值准备9.47亿元。罗某认为:“因股权质押而发布的计提资产减值准备,对公司净利润影响非常大,很多券商旗下营业部全年奖金暂停发放。”在A股市场震荡情况下,券商依然面临质押股份股价下跌带来的风险。Wind数据?#20801;荊?#25130;至2月21日,76家券商年内持有未解押的股票市值达764.89亿元。长城证券表示,从基本面来看,2018年是券商基本面最差的一年,2019年一方面由于基数?#31995;停?#21478;一方面随着科创板、沪伦通等券商增量业务逐步推出,行业业绩增速有望触底回升。纾困基金缓解风险防范股权质押风险成为监管层和决策层亟待解决的问题。作为上市公司大股东股权质押的质权人,券商不仅要?#37038;?#19978;市公司的股票作为抵押物,还要为上市公司的大股东提供贷款,成为相应的债权人。质押股份跌破平仓线而不能卖出,而券商纾困基金的出现正好体现出了转移风险的价值。在上述?#26041;?#20013;,券商的作用意义巨大。券商纾困民企,是2018年10月底,中国证券业协会发起的“证券行业支持民营企业发展系列资产管理计划?#20445;?#26088;在缓解股权质押风险。中国证券业协会官网?#20801;荊?#25130;至1月20日,证券行业支持民营企业发展系列资产管理计划自全面启动以来,已经进行至第五批次,共有50家公司?#20449;党?#36164;规模累计达545亿元。其中,已有38家证券公司共成立53只系列资管计划和11只子计划,出资规模总计529.3亿元左右。但目前根据?#30340;?#22810;方声音?#20174;常?#32446;困计划的落地在实操中仍然面临多重因素困扰。“纾困基金是采用债券置换、购买股权、股+债、股+并购重组等模式,来缓解上市公司的股权质押风险。避免股权质押违约风险对上市公?#32416;此担?#26159;一个很重要的课题,需要上市公司增强增厚主业、减少股价下跌风险,寻?#39029;?#26399;并?#20197;?#24847;长期持有的资金进入。”上述券商?#30340;?#20154;士表示。

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fen. yin yi gu fen yu 2018 nian 8 yue 21 ri die po ping cang xian, kong yong lin reng wei lv xing bu chong dan bao yi wu, gou cheng wei yue, she ji jin e wei 3. 46 yi yuan. tong shi, yin yi kong gu fang mian yu tian feng zheng quan da cheng de gu quan zhi ya xiang mu, ye yin qian zhe wei neng bu chong dan bao gou cheng wei yue, she ji jin e wei 1. 51 yi yuan. shi shi shang, yin yi gu fen ye yi zhi zai ji ji xun zhao tou zi fang, dan you yu chu zi fen e de ni shou rang fang zan wei que ding, zai jia shang duan qi nei zi jin zhou zhuan kun nan, dao zhi" yin yi fang di chan gu fen you xian gong si 2015 nian mian xiang he ge tou zi zhe gong kai fa xing gong si zhai quan di yi qi" wei neng ru qi chang fu ying fu hui shou kuan ben jin. chong chong ya li zhi xia, 2 yue 18 ri, yin yi gu fen fang mian xuan bu chong zu shi bai. jie zhi ji zhe fa gao, tian feng zheng quan fang mian biao shi, zan bu fang bian hui ying ci shi. xiang bi tian feng zheng quan, hua rong zheng quan cai lei de xiang mu geng duo. hua rong zheng quan qi xia duo zhi zhai quan yu 2 yue 12 ri fa bu de zhong da su song gong gao xian shi, you 6 qi he tong jiu fen she ji gu quan zhi ya xiang mu, gong she ji 5 zhi gu piao biao di, she ji jin e gao da 29. 58 yi yuan. zai zhe 5 zhi gu piao zhong, he ran chu xian ST bao qian ST tian ma shen wu huan bao 300156 zhe yang de da lei. cong shou li shi jian lai kan, hua rong zheng quan cai lei gu quan zhi ya ji hu guan chuan le qu nian suo you ji du, er ji chuan ping cang xian de ST bao qian ST tian ma gu jia geng shi die po 2 yuan. qi zhong, hua rong zheng quan cai lei ST bao qian de gu quan zhi ya xiang mu she ji jin e gao da 14 yi yuan. ran er ling ren yi wai de shi, hua rong zheng quan zai gong gao zhong cheng, shang shu su song shi xiang dui qi sheng chan jing ying cai wu zhuang kuang ji chang zhai neng li wu zhong da bu li ying xiang. yu hua rong zheng quan cai lei ST gu" tong bing xiang lian" de, hai you zhao shang zheng quan he dong xing zheng quan. 1 yue 23 ri wan jian, zhao shang zheng quan fa bu gong gao cheng, qing qiu pan ling kang de ji tuan xiang gong si chang huan zhai quan ben jin 1 yi yuan, zhi fu li xi wei yue jin bing cheng dan su song fei he shi xian zhai quan de fei yong. ju liao jie, zhao shang zheng quan zai 2018 nian 4 yue yu kang de ji tuan qian ding de gu piao zhi ya shi hui gou jiao yi xie yi, kang de ji tuan jiang chi you de 1327 gu ST kang de xin 002450 gu piao zhi ya gei qian zhe, jiao yi jin e 1 yi yuan. chu xian wei yue de yuan yin shi, ST kang de xin zai 2018 nian 6 yue 1 ri zhi 11 yue 15 ri ting fu pai qian hou, chu xian le lian xu si ge die ting ban, gu jia zhi jie die chuan ping cang xian. jie zhi 2019 nian 1 yue 23 ri, ST kang de xin fu pai hou yi zi die ting, shou bao 5. 73 yuan, xiang bi zhi ya shi hou de gu jia 20. 54 yuan xia die chao 70. 1 yue 8 ri, dong xing zheng quan xiang fa yuan ti qi su song qing qiu, qing qiu fa yuan pan ling yu yun xin qing chang rong zi kuan ben jin jin 7 yi yuan, she ji gu quan zhi ya xiang mu di biao di wei ST xin guang yuan xin guang yuan cheng. zai xin guang yuan cheng dai mao zhi hou, gu jia yi jiu yi lu xia die, xian yi die zhi 2. 68 yuan. bu fen quan shang shen shou ying xiang gu quan zhi ya ye wu ceng jing zuo wei quan shang hu shi dan dan de li yi dan gao, cong xing qi dao pin pin bao lei jin zou guo 5 nian shi jian. 2018 nian du gu piao zhi ya hui gou feng xian fen xi bao gao shu ju xian shi, 2018 nian she ji kong gu gu dong ji qi yi zhi xing dong ren de gu quan zhi ya wei yue he ji 179 bi, lai zi 82 jia shang shi gong si, he ji wei yue jin e 482 yi yuan. mu qian, sui ran zhong duo quan shang zai gu quan zhi ya ye wu zhong she li le yu jing xian ping cang xian deng cuo shi, lai jiang di zhi ya gu piao jia ge xia die dai lai de feng xian, ran er zai shi ji cao zuo zhong, dui yu yi jing ji chuan ping cang xian de gu piao, quan shang wang wang hui tong guo xie shang lai jie jue wen ti. dan da duo shu shang shi gong si da gu dong huo zi ran ren bing wei dui ci ti gong bu chong dan bao, xie tiao wei guo de quan shang zhi hao xuan ze na qi fa lv de wu qi." yi ban lai shuo, dui yu gu quan zhi ya wei yue, quan shang tong chang you liang zhong zuo fa: yi shi zhi jie shang hei ming dan er shi qiang ping, xu yao jiao zhong guo zheng quan deng ji jie suan you xian gong si qu chu li ci shi." quan shang cong ye ren shi luo mou gao su guo ji jin rong bao ji zhe." dan shi ru guo cai qu qiang ping cuo shi, you xie xian shou gu xu yao deng dao jie jin, ji bian shi liu tong gu, ye xu yao man zu gao guan ji gu dong de xiang guan jian chi gui ding qiang xing ping cang." luo mou biao shi. gu quan zhi ya zuo wei zhong yao shou ru lai yuan zhi yi, bu fen quan shang yi jing shen shou qi ying xiang. ju quan shang 2018 nian 12 yue cai wu jian bao pi lu, duo jia quan shang dang yue jing li run zhuan kui, xing ye zheng quan 601377 tui ce, yuan yin ke neng zai yu ji ti le he gu quan zhi ya ye wu xiang guan de jian zhi. ju guo ji jin rong bao ji zhe bu wan quan tong ji, jin nian yi lai, gong you tai ping yang zheng quan chang jiang zheng quan 000783 fang zheng zheng quan 601901 deng 10 jia quan shang fa bu ji ti zi chan jian zhi zhun bei de gong gao, qi zhong, mai ru fan shou jin rong zi chan he ji gao da jin 30 yi yuan. tai ping yang 601099 zheng quan fa bu gong gao cheng, dan xiang ji ti zi chan jian zhi zhun bei gong ji ren min bi 9. 72 yi yuan. qi zhong, mai ru fan shou jin rong zi chan ji ti zi chan jian zhi zhun bei 9. 47 yi yuan. luo mou ren wei:" yin gu quan zhi ya er fa bu de ji ti zi chan jian zhi zhun bei, dui gong si jing li run ying xiang fei chang da, hen duo quan shang qi xia ying ye bu quan nian jiang jin zan ting fa fang." zai A gu shi chang zhen dang qing kuang xia, quan shang yi ran mian lin zhi ya gu fen gu jia xia die dai lai de feng xian. Wind shu ju xian shi, jie zhi 2 yue 21 ri, 76 jia quan shang nian nei chi you wei jie ya de gu piao shi zhi da 764. 89 yi yuan. chang cheng zheng quan biao shi, cong ji ben mian lai kan, 2018 nian shi quan shang ji ben mian zui cha de yi nian, 2019 nian yi fang mian you yu ji shu jiao di, ling yi fang mian sui zhe ke chuang ban hu lun tong deng quan shang zeng liang ye wu zhu bu tui chu, hang ye ye ji zeng su you wang chu di hui sheng. shu kun ji jin huan jie feng xian fang fan gu quan zhi ya feng xian cheng wei jian guan ceng he jue ce ceng ji dai jie jue de wen ti. zuo wei shang shi gong si da gu dong gu quan zhi ya de zhi quan ren, quan shang bu jin yao jie shou shang shi gong si de gu piao zuo wei di ya wu, hai yao wei shang shi gong si de da gu dong ti gong dai kuan, cheng wei xiang ying de zhai quan ren. zhi ya gu fen die po ping cang xian er bu neng mai chu, er quan shang shu kun ji jin de chu xian zheng hao ti xian chu le zhuan yi feng xian de jia zhi. zai shang shu huan jie zhong, quan shang de zuo yong yi yi ju da. quan shang shu kun min qi, shi 2018 nian 10 yue di, zhong guo zheng quan ye xie hui fa qi de" zheng quan hang ye zhi chi min ying qi ye fa zhan xi lie zi chan guan li ji hua", zhi zai huan jie gu quan zhi ya feng xian. zhong guo zheng quan ye xie hui guan wang xian shi, jie zhi 1 yue 20 ri, zheng quan hang ye zhi chi min ying qi ye fa zhan xi lie zi chan guan li ji hua zi quan mian qi dong yi lai, yi jing jin xing zhi di wu pi ci, gong you 50 jia gong si cheng nuo chu zi gui mo lei ji da 545 yi yuan. qi zhong, yi you 38 jia zheng quan gong si gong cheng li 53 zhi xi lie zi guan ji hua he 11 zhi zi ji hua, chu zi gui mo zong ji 529. 3 yi yuan zuo you. dan mu qian gen ju ye nei duo fang sheng yin fan ying, shu kun ji hua de luo di zai shi cao zhong reng ran mian lin duo chong yin su kun rao." shu kun ji jin shi cai yong zhai quan zhi huan gou mai gu quan gu zhai gu bing gou chong zu deng mo shi, lai huan jie shang shi gong si de gu quan zhi ya feng xian. bi mian gu quan zhi ya wei yue feng xian dui shang shi gong si lai shuo, shi yi ge hen zhong yao de ke ti, xu yao shang shi gong si zeng qiang zeng hou zhu ye jian shao gu jia xia die feng xian, xun zhao chang qi bing qie yuan yi chang qi chi you de zi jin jin ru." shang shu quan shang ye nei ren shi biao shi.

    

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