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On January 13, the "QFII / rqfii / Shenzhen Stock connect investor information" column on the official website of Shenzhen Stock Exchange showed that as of the closing on January 10, the proportion of shares of Midea Group (000333, SZ) held by foreign investors through QFII / rqfii / Shenzhen Stock connect in the company's total share capital further rose to 27.8%, a record high, and approaching the "no buy line" of 28%.
According to relevant regulations, when the proportion of shares held by foreign investors exceeds 28%, buying will be suspended until the total proportion of shares is reduced to less than 26%.
The reporter of "daily economic news" learned that, in addition to Midea Group, Huace testing (15.650, 0.34, 2.22%) (300012, SZ) currently holds 26.19% of the shares of overseas funds. Shen Meng, executive director of Xiangsong capital, told reporters that domestic substitution of science and technology is the most potential investment target in the recent period and even in the future. Therefore, for some enterprises with technological R & D strength, if the price valuation is low, overseas funds will be more concerned.
Midea Group's overseas shareholding approaches the "forbidden line"
According to the official website of Shenzhen Stock Exchange, as of January 10, QFII / rqfii / Shenzhen Stock connect investors of Midea Group had held 1.939 billion shares, reaching a record high. According to the official website of Shenzhen Stock Exchange, since 2019, foreign funds have been increasing their holdings in Midea Group. On January 28, 2019, the number of shares held by overseas investors of Midea Group was 1.713 billion shares, accounting for 26.05% of the total share capital of the company. Over the past year, foreign investors have continuously bought 226 million shares of Midea Group, and the total shareholding ratio is close to the "red line of investment" of 28%.
The reporter noted that before the opening of the Shanghai Hong Kong stock connect in 2014, the CSRC mentioned in the "Several Provisions on the pilot of the trading interconnection mechanism of the Shanghai Hong Kong stock market" that the domestic stock investment of overseas investors should follow: the comprehensive shareholding of all overseas investors in A-shares of a single listed company should not exceed 30% of the total shares of the listed company. The Hong Kong Stock Exchange has previously disclosed more specific operating rules, saying that when the total overseas shareholding ratio of individual A shares reaches 26%, the Shanghai Stock Exchange and Shenzhen Stock Exchange will publish notices. When the shareholding ratio of overseas investors exceeds 28%, the buying will be suspended until the total shareholding ratio drops below 26%; at the same time, if it exceeds 30%, the selling procedure will be forced to start, and the excess part will be sold according to the principle of "buy after sell first".
The reporter of the daily economic news noted that the third quarter report of 2019 of Midea Group showed that as of September 30, 2019, three of the top ten shareholders of the company were foreign legal persons and one foreign natural person, and four foreign investors held 18.03% of the company's shares in total. Among them, Hong Kong Central Clearing Co., Ltd. is the second largest shareholder of Midea Group.


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