Xiong Yuan, chief economist of Guosheng Securities, pointed out in an interview with reporters a few days ago that the governance reform of listed companies focuses on compacting principal responsibilities, strengthening information disclosure and accountability for illegal violations, improving dividends and repurchase support restrictions, promoting enterprises to shift from a single financing orientation to equal emphasis on value creation and shareholder returns, continuously reducing governance risk and discounts, and repairing the foundation of investor trust; at the same time, the differentiated constraints of the holdings reduction system and penetrates supervision to curb disorderly arbitrage and bypass holdings reduction, promote convergence between major shareholders' interests and small and medium-sized investors, reduce irrational pressure and stable valuation expectations in vulnerable environments. The rules are predictable, and risk pricing continues to be rational. According to the data, the net profit of listed companies increased 19.5% year-on-year in the first half of the year, reaching a new high of nearly three years; at the same time, dividend repurchases reached 2.7 times that of IPOs and refinancing during the year, achieving simultaneous growth in profits and returns.

Xiong Yuan, chief economist of Guosheng Securities, pointed out in an interview with reporters a few days ago that the governance reform of listed companies focuses on compacting principal responsibilities, strengthening information disclosure and accountability for illegal violations, improving dividends and repurchase support restrictions, promoting enterprises to shift from a single financing orientation to equal emphasis on value creation and shareholder returns, continuously reducing governance risk and discounts, and repairing the foundation of investor trust; at the same time, the differentiated constraints of the holdings reduction system and penetrates supervision to curb disorderly arbitrage and bypass holdings reduction, promote convergence between major shareholders' interests and small and medium-sized investors, reduce irrational pressure and stable valuation expectations in vulnerable environments. The rules are predictable, and risk pricing continues to be rational. According to the data, the net profit of listed companies increased 19.5% year-on-year in the first half of the year, reaching a new high of nearly three years; at the same time, dividend repurchases reached 2.7 times that of IPOs and refinancing during the year, achieving simultaneous growth in profits and returns.