Research On Continuous Short Selling And Coping Strategies Of Anta Sports

Short selling mechanism can play a positive role in strengthening the liquidity of the stock market and promoting the discovery of stock prices,but short selling institutions for profit also have short selling behavior without due diligence or lack of evidence support.Since 2017,dozens of Hong Kong stock companies have been shorted by shorting institutions,which has expanded the scope of the impact of shorting and seriously damaged the interests of shorted companies.All Hong Kong stock companies must face the problems of how to identify short selling behavior,how to actively respond to short selling,and how to reduce their own losses after being short.This thesis expounds the research background and practical significance based on the analysis of the relevant literature on the definition of shorting,the reasons for being shorted and the economic consequences of shorting.Secondly,it systematically arranges the short selling events in the Hong Kong stock market from 2011 to 2021,and summarizes the characteristics of the airport stock enterprises.Through the case study method,this thesis combs the process of Anta sports being shorted,and summarizes the reasons for its shorting combined with the content of Anta Sports strategic transformation.Through financial analysis methods such as trend analysis and ratio analysis,this thesis analyzes the specific query points in the short report in detail,and points out the impact of continuous short selling on Anta Sports stock price.This thesis summarizes the short selling coping strategies of Anta sports,analyzes the effectiveness of coping strategies of case enterprises by using event analysis method and stata15 software,and finally puts forward targeted suggestions.The results show that:(1)the short listed companies in Hong Kong stock market have financial characteristics different from those in the same industry;It has the governance characteristics of related party transactions,incomplete information disclosure and abnormal financing dividends.(2)Anta was short because of high enterprise value,changes in financial data caused by strategic transformation,defects in family governance model and lack of sub brand information disclosure.The questioning points of shorting institutions can be reasonably explained through the contents related to Anta’s strategic transformation,and the evidence of shorting is insufficient.(3)Anta’s short selling strategies include emergency suspension of trading,issuance of Clarification Announcement,convening of analyst teleconference,subscription of new shares by subscribers,and timely response and disclosure of major business progress by combining various forces,effectively reducing the negative impact of continuous short selling on enterprises.(4)The successful strategic transformation has adjusted Anta’s operation mode,thus improving Anta’s profitability and enabling Anta to deal with continuous short selling.Accordingly,this thesis puts forward some suggestions: Anta sports should improve the information disclosure and governance model and accumulate experience in dealing with short selling;Hong Kong stock enterprises should treat short selling rationally and establish a complete short selling response system.