Research On The Risk Of Huishan Dairy Stock

At present,in the listed companies of our country,the phenomenon that main shareholders pledge a large number of shares in a high proportion has aroused the attention of all parties,and this financing mode shows a strong development trend in the capital market of our country.The main sponsors of equity pledge financing activities are usually the main shareholders of listed companies.The purpose of equity pledge by the main shareholders is to solve the problem of insufficient funds encountered by the company and the main shareholders.However,everything has two sides.Although companies and shareholders can obtain funds quickly through equity pledge financing,they also face risks brought by equity pledge financing.During the period of equity pledge,the pledged part is affected by the company's own operating conditions and the changing stock price.There exists the possibility that the stock price will decline or even be on the verge of the pledge warning line,which will affect the interests of all shareholders and the development of the company.The control rights may be changed and transferred if the equity cannot be paid.At the same time,if the main shareholders make the capitals for their own use,the company may face the risk of being hollowed out,which lead to the loss of legitimate rights and interests of the company and other stakeholders,and is not conducive to the healthy development of the stock market.This paper analyses the risks faced by Huishan Dairy Industry due to the pledge of the major shareholders' equity rights.It mainly analyses the market risk,control right transfer risk,moral risk,tunneling risk and preventive measures of Huishan Dairy Company's equity pledge,and evaluates the company's countermeasures.Accordingly,this paper puts forward some suggestions to deal with the risk of equity pledge financing.In order to reduce the risk brought by the main shareholders' equity pledge behavior to the company,we need to implement comprehensive policies.Namely,it is necessary not only to strengthen the information disclosure of equity pledge,improve the internal governance of the company,including the improvement of various systems,but also to strengthen coordination and communication with stakeholders of listed companies so as to reduce the risk.Meanwhile the government or state-owned enterprises can be used to relieve the crisis caused by their own equity pledge.Through the analysis of equity pledge financing cases,this paper studies the motivation of main shareholders' equity pledge and the economic consequences of equity pledge,and tries to put forward solutions to the problem of equity pledge.