部分金融詞匯匯總

1、部分金融詞匯    infusion of capitalization資本注入融資融券margin Trading大小非解禁unlock the nontradable stock退市delist股權(quán)分置改革stock reform創(chuàng)業(yè)板Growth board中小板SME board 定向增發(fā)Private Placement帳簿管理人(Book Runner)非公開發(fā)行股票（Private Equity Placement）（又被稱為定向增發(fā)私募(Private Placement)是相對(duì)于公募(Public offering)破發(fā)Broken IPOs 跌破發(fā)行(B

2、reak issue) 描述新股跌破發(fā)行價(jià)的術(shù)語Quoting股票報(bào)價(jià)一種股票在一個(gè)交易日的價(jià)格（包括叫價(jià)及出價(jià)）highest valuations最高估值題材股theme stockTrina Solar （TSL）, China Sunergy （CSUN）, LDK Solar （LDK）, Yingli Green Energy Holding （YGE）, and JA Solar （JASO）天合光能、中電光伏、江西賽維、英利新能源以及晶澳太陽能公司Proceeds 融資收益Companies go public to raise money. The money raised

3、is referred to as proceeds. In every prospectus there is a section entitled "Use of Proceeds". Investors should read this section to find out whether the company plans to use the money it raises in the IPO for capital investment (good) or to pay off insiders (bad).Sarbanes-Oxley薩班斯奧克斯利法案Cl

4、ass Actions集體訴訟案prospectus for a secondary offering二次募股招股說明書issuers企業(yè),股票發(fā)行人moffshore listing海外上市外管局State Administration of Foreign Exchange, 簡稱：外管局GP管理團(tuán)隊(duì)GP（創(chuàng)投管理人員）; LP（基金投資人）;LP出資人Funding & Divestment Stay Offshore (兩頭在外)引導(dǎo)資金matching funds (引導(dǎo)基金)外資VC以“兩頭在外”的模式運(yùn)作，即“海外募資投資中國公司的海外控股公司實(shí)現(xiàn)海外上市退出”。fund

5、ing, investing, value add to portfolio, and divestment基金成立、基金投資、被投項(xiàng)目上市、上市退出賽富、德同、戈壁、智基等多家境外基金掌上靈通LinktoneIPO 即initial public offerings(首次公開發(fā)行股票，或者說新股上市） 外資VC以“兩頭在外”的模式運(yùn)作，即“海外募資投資中國公司的海外控股公司實(shí)現(xiàn)海外上市退出”。上市退出divestment母基金（Fund of Funds）有限合伙人（LP）”概念（長期投資，不參與管理，利益分成），Merrill Lynch （MER）bank reserve ratio 存

6、款準(zhǔn)備金率發(fā)行價(jià)(Issue Price)Proceeds收益Insider trading 內(nèi)幕交易Crossing network電子通信網(wǎng)絡(luò)或者證券交叉網(wǎng)絡(luò)配股（placement）.Imbalance information私募基金翻譯成private placement fund停盤(Suspension)由于即將發(fā)布文告而暫停交易。Broker券商Capital raising 融資bear trap 空頭陷阱：當(dāng)股票下跌時(shí)，引起大量拋售，然后價(jià)格又上漲。turn-keyintraday當(dāng)天波動(dòng)集束（volatility clustering）Connected transacti

7、on 關(guān)聯(lián)交易Allotment 配股CSRC 中國證券監(jiān)督管理委員會(huì)籌資創(chuàng)辦(Float)介紹新公共公司給股票交易，以從公眾籌集資金。  目前國外股票首次公開發(fā)行(IPOs)的研究主要集中于三種普遍現(xiàn)象，即股票首次公開發(fā)行定價(jià)過低(IPOs Underpricing)，股票首次公開發(fā)行后的長期弱勢(shì)(Long Run Underperformance of IPOs)以及股票首次公開發(fā)行的熱銷市場(chǎng)(Hot Issue Markets)。包括證券市場(chǎng)的運(yùn)行效率(efficiency run)與證券市場(chǎng)的配置效率(efficiency allocation)IPO 即initial pu

8、blic offerings(首次公開發(fā)行股票，或者說新股上市）  Definition of IPO - initial public offeringInitial Public Offering or IPO is the first sale of stock by a private company to the public. IPOs are often smaller, younger companies seeking capital to expand their business. the big board 大盤the ups and downs of the

9、 stock market股市行情 blue chip績優(yōu)股  component index成份指數(shù)      deceptive accounting 虛假帳務(wù)     earning report 業(yè)績報(bào)表     financial irregularities /improprieties 金融違規(guī)行為     financial reorganization 金融重組    

10、 financial statement 財(cái)務(wù)報(bào)表     fund custodian bank基金托管銀行     fund manager基金經(jīng)理/管理公司     high-tech sector高科技板塊     income statement 損益表      industrial stock工業(yè)股票      inflate profits

11、虛報(bào)盈利     listed company / delisted company 上市公司/被摘牌的公司     record high （股票指數(shù)）創(chuàng)歷史新高     red chips紅籌股     return on equity股本回報(bào)率      share, equity, stock 股票、股權(quán)     closed-end securit

12、ies investment fund 封閉式證券投資基金     open-end securities investment fund 開放式證券投資基金PE”即Private Equity，我們將其譯為“私募股權(quán)”。  凈資產(chǎn)收益率（Rate of Retern on Common Stockholders' Equity, 簡稱ROE） 低市值公司股, Small-Cap stocks risk check風(fēng)險(xiǎn)控制粒(Marketable Lot)溢價(jià)(Premium)經(jīng)紀(jì)費(fèi)，傭金(Brokerage)股票經(jīng)紀(jì)人因其買或賣股票服

13、務(wù)而收取的費(fèi)用。股票買賣通知書(Contract Notes)市場(chǎng)負(fù)債/權(quán)益比率(Debt/Equity Ratio)金融桿杠或資本負(fù)債比率的指標(biāo)。用于比較債權(quán)人資產(chǎn)與股東資產(chǎn)。由共同股東權(quán)益的長期負(fù)債決定。 折舊(Depreciation)長期資產(chǎn)在使用期內(nèi)注回成本。稀釋( Dilution)因發(fā)行新股而使收益或股息減少。折價(jià)(Discount)掛牌股票價(jià)格低于票價(jià)值。與“溢價(jià)”相反。股息(Dividend)董事分配給股東的公司利潤部分，可以是現(xiàn)金也可以是股票。通常表達(dá)為相關(guān)資本名義價(jià)格的百分比。股息收益率( Dividend Yield)年股息除以股價(jià)。股利保證倍數(shù)、凈 利與股息比率( D

14、ividend Cover)公司凈利與公司總股息的比率。每股股息(Dividend Per Share)付給每股普通股的股息。 到期日-股票 (Due Date)買或賣的結(jié)算日，或非對(duì)敲的簿記日。目前是交易日加三個(gè)市場(chǎng)日。 每股收益(Earnings Per Share)每股普通股的利潤。以凈收入除以普通股數(shù)量計(jì)算。股票電子支付 ( Electronic Payment for Shares (EPS)通過直接貸記銀行帳戶，及通過自動(dòng)柜員機(jī)借記結(jié)算模式。無股息(Ex-Dividend)資本負(fù)債比率，資本結(jié)合率(Gearing)借入資本與股東權(quán)益比率?？梢杂秘?fù)債/權(quán)益比率衡量。增長股票(Grow

15、th Stocks)通指每股收益和股價(jià)增長高于平均增長率的股票。套期保值(Hedging)通過使用購買期權(quán)、賣出期權(quán)、賣空或期貨合同來規(guī)避風(fēng)險(xiǎn)的一項(xiàng)策略。其目的是減少資產(chǎn)組合的易變性，以及減少虧損風(fēng)險(xiǎn)。通貨膨脹( Inflation)貨物和/或服務(wù)的價(jià)格持續(xù)上漲。內(nèi)在價(jià)值( Intrinsic value)股票的內(nèi)在或真實(shí)價(jià)值。在投資中，這是市場(chǎng)股價(jià)圍繞波動(dòng)的價(jià)值。不可償還( Irredeemable)指發(fā)行公司在預(yù)定日期前不償還所負(fù)的債款。 發(fā)行資本(Issued Capital)指發(fā)行的資本，通常與名義或額定資本不同。后者為已額定但未發(fā)行、印花稅已交的資本。清算( Liquidation)

16、公司清盤或?qū)①Y產(chǎn)轉(zhuǎn)換為現(xiàn)金。流動(dòng)性( Liquidity)迅速將資產(chǎn)轉(zhuǎn)換為現(xiàn)金的能力。多頭，買超( Long Position)持有證券或商品，希望其價(jià)格會(huì)上升。市場(chǎng)資本總額(Market Capitalization)掛牌公司總市場(chǎng)價(jià)值。以每股市價(jià)乘以股數(shù)計(jì)算。證券數(shù)量代表在新加坡證券交易所交易名義單位。零星股( Odd Lot)股價(jià)高于帳面價(jià)值，與“折價(jià)”相反。本益比(Price-Earnings Ratio)股價(jià)和公司每股收益的比率。用于衡量投資者資本支出以股息形式或保留利潤收回的年數(shù)。初級(jí)市場(chǎng)(Primary Market)新發(fā)行股票的每一個(gè)買主在初級(jí)市場(chǎng)購買股票。接下來的股票交易在二

17、級(jí)市場(chǎng)進(jìn)行。私下配售(Private Placement)發(fā)行公司和投資者之間的直接交易。 反彈 (Rally)股價(jià)在下跌或鞏固后回升。可變現(xiàn)(Realizable)指通過清理資產(chǎn)變成現(xiàn)金。已實(shí)現(xiàn)利潤/虧損(Realized Profit/Loss)拋售證券的利潤或虧損。重估(Revaluation)公司資產(chǎn)帳面價(jià)值變化反映現(xiàn)有市場(chǎng)價(jià)值。*縱(Rigging)通過市場(chǎng)活動(dòng)和謠言非法*縱股價(jià)。附加股(Rights Issue)按其持有的固定比例以某一價(jià)格發(fā)行股票給現(xiàn)有股東。股東有權(quán)選擇執(zhí)行或拒絕其權(quán)利。整粒(Round Lot)在某一特定股市交易的基礎(chǔ)單位。在新加坡證券交易所，為1000股。上漲

18、(Run)市場(chǎng)術(shù)語用于形容股價(jià)增值。無票交易(Scripless Trading)不須交換股票的交易。二級(jí)市場(chǎng)(Secondary Markedt)買或賣以前擁有的股票的市場(chǎng)，如主板和新加坡自動(dòng)報(bào)價(jià)股市。證券(Security)一種表明所有權(quán)的票據(jù)（如股票、債券或期權(quán)），表明債權(quán)持有人和公司或政府的關(guān)系。賣空(Short-sell)賣方拋售其并不據(jù)有的股票。新股套利(Stag)投機(jī)者認(rèn)購新股后馬上拋售以賺取利潤，與那些長期持有股票的投資者不同。 股票指數(shù)(Stock Index)衡量股市股價(jià)變化的統(tǒng)計(jì)組合。執(zhí)行價(jià)格，履約價(jià)格(Striking Price)期權(quán)價(jià)格。停盤(Suspension)

19、 證券包銷商(Underwriter)保證認(rèn)購所有發(fā)行的新股的公司。 積極成長型（Aggressive Growth Funds）：積極成長型基金以追求獲取最大資本利得為目  AAllocation This is the amount of stock in an initial public offering (IPO) granted by the underwriter to an investor. For most IPOs, the allocation is significantly less than the indication of int

20、erest. The allocations are meted out based on commission volume, trading history and type of investor.   Aftermarket Trading in the IPO subsequent to its offering is called the aftermarket. Trading volume in IPOs is extremely high on the first day due to flipping and aftermarket purchases.

21、 Trading volume can decline precipitously in the following days. 企業(yè)第一次向公眾發(fā)行股票被稱為IPO（Initial Public Offering）。即企業(yè)通過一家股票包銷商（underwriter）以特定價(jià)格在一級(jí)市場(chǎng)（primary market）承銷其一定數(shù)量的股票，此后，該股票可以在二級(jí)市場(chǎng)或店頭市場(chǎng)(aftermarket)買賣。   首次公開招股是指一家私人企業(yè)第一次將它的股份向公眾出售。通常，上市公司的股份是根據(jù)向相應(yīng)證券會(huì)出具的招股書或登記聲明中約定的條款通過經(jīng)紀(jì)商或做市商進(jìn)行銷售。一般來說

22、，一旦首次公開上市完成后，這家公司就可以申請(qǐng)到證券交易所或報(bào)價(jià)系統(tǒng)掛牌交易。  另外一種獲得在證券交易所或報(bào)價(jià)系統(tǒng)掛牌交易的可行方法是在招股書或登記聲明中約定允許私人公司將它們的股份向公眾銷售。這些股份被認(rèn)為是"自由交易"的，從而使得這家企業(yè)達(dá)到在證券交易所或報(bào)價(jià)系統(tǒng)掛牌交易的要求條件。 大多數(shù)證券交易所或報(bào)價(jià)系統(tǒng)對(duì)上市公司在擁有最少自由交易股票數(shù)量的股東人數(shù)方面有著硬性規(guī)定。    Venture Capital Venture Capital firms invest in private companies that

23、need capital to develop and market their products. In return for this investment, the venture capitalists exact a price - significant ownership of the company and seats on the board of directors. For the most part, venture capitalists focus on companies in the technology, medical and retail sectors.

24、 Venture capitalists raise money from institutional investors, state pension funds and high-net worth individuals, usually in the form of partnerships. Investors should look at the venture capital firms track record and expertise when evaluating an IPO.  Back-door ListingA strategy of going pub

25、lic used by a company that fails to meet the criteria for listing on a stock exchange. To get onto the exchange, the company desiring to go public acquires an already listed company.A plan for mid-sized brokerage Changjiang Securities to obtain a backdoor stock market listing has been approved by Ch

26、ina's securities regulator, a company involved in the scheme said on Saturday. Shijiazhuang Petrochemical Co. said the China Securities Regulatory Commission passed its plan to merge with Changjiang by issuing new shares, in a deal which it previously estimated would value Changjiang at 10.

27、3 billion yuan ($1.37 billion). Under the plan, Shijiazhuang will separate itself from its parent firm, oil refining giant Sinopec Corp. Sinopec will buy all of Shijiazhuang's assets by assuming debts estimated at 3.7 billion yuan. The merger, which is subject to conditions specified b

28、y the commission, will provide Changjiang with Shijiazhuang's listing on the Shenzhen Stock Exchange CITIC Trust, an arm of Chinas largest financial conglomerate, China International Trust and Investment Corp. (CITIC), will seek a backdoor stock market listing, a Chinese company involved in

29、 the deal said yesterday. Anxin Trust & Investment Co. plans to issue up to 1.5 billion new A shares to CITIC and two other local companies, including Anxins current controlling shareholder, Anxin said in a statement. As part of the deal, Anxin would obtain 100 percent ownership of CIT

30、IC Trust, while CITIC would become the controlling shareholder in Anxin. “CITIC Trust would then be a listed company, paving the way for the further development of its trust business,” Anxin said. The placement of Anxin shares would be priced at no less than 90 percent of Anxins average traded

31、stock market price in the past 20 days, subject to approval by shareholders and regulators. Anxin noted that the deal might fall apart because the firm had been under investigation by regulators since September 2005 for possible violations of securities laws.  Its shares have been suspende

32、d since Nov. 22, when they closed at 4.79 yuan. Based on the stocks 20-day moving average on its last trading day, the placement of Anxin shares could raise about 5.67 billion yuan. The money would be used to shore up Anxins capital base and improve its profitability, the company said. Man

33、y Chinese securities and other financial companies are seeking backdoor stock market listings as faster and easier alternatives to the process of conducting initial public offers.Cash-Hungry Developers Try the Back Door05-08 14:36 Caijing Magazine  Accessing capital markets in the face of

34、tighter controls on IPOs is possible for Chinese real estate developers willing to try a back-door listing technique. By staff reporter Zhang Yingguang Pressured by China's increasingly sluggish real estate market and tightening credit, Chinese real estate developers are increasingly c

35、hoosing to raise funds through back-door listings as an alternative to initial public offerings. Developers hungry for financing have been turning to the capital markets with a sense of urgency for several years. But the government's recently tightened monetary policies have made it difficu

36、lt to list new enterprises on the stock exchange, dampening enthusiasm for IPOs. According to domestic media, scores of developers have completed back-door listings since late 2006. Statistics show that about half of the 100 property companies listed on the Shanghai and Shenzhen exchanges came

37、in through the back door. An investment banker told Caijing that many Chinese real estate developers prefer the alternative due to a broad range of macroeconomic controls in the property sector as well as soaring land prices, which have increased the need for financing. For example Rongan

38、Group, a private developer based in Ningbo, listed on the Shenzhen exchange April 14 through a back-door move. And reportedly, Beijing Huayuan Property Co. Ltd. will soon launch a back-door listing through the shell company Hubei Xingfu Industry Co. Ltd. (SSE: 600743). In addition Beijing Pengr

39、un Real Estate Development Co. Ltd. - controlled by Huang Guangyu, one of China's wealthiest businessmen and founder of the country's largest home appliance retailer Gome - decided to launch a back-door listing after scrapping plans for a Hong Kong IPO.  Pengrun plans to transfer its as

40、sets to a publicly listed shell company called Beijing Centergate Technologies (Holding) Co. Ltd. (SZSE: 000931), which will allow Pengrun to raise funds on the market. Both are owned by the same parent, Beijing Pengtai Investment Co. Ltd., which Huang controls. Centergate plans to issue up to

41、1.227 billion shares through a non-public offering at 14.67 yuan per share, raising about 18 billion yuan.   Pengrun expects its net profits to reach 350 million yuan this year and 600 million in 2009 after the listing. Last year, the company reported a net profit of 35 million yuan. Pengr

42、un has reported 3.48 billion yuan in assets and 140 million yuan worth of debt.  1 yuan = 14 U.S. centsA reverse takeover occurs when a publicly-traded smaller company acquires ownership of a larger company. It typically requires reorganization of capitalization of the acquiring company. I

43、n the event the larger company is not publicly traded, the reverse takeover results in a privately held company becoming a publicly held company by circumventing the traditional process of filing a prospectus and undertaking an initial public offering (IPO). It is accomplished by the shareholders of

44、 the private company selling their shares in the private company to the public company in exchange for shares of the public company. Because of China's stock market boom, a string of brokerages is seeking listings through initial public offers of shares or backdoor listings, which can be qu

45、icker and cheaper than IPOs. French bank BNP Paribas previously had a partnership with Changjiang but severed ties in January, saying the two companies had different views on the development of a joint venture in China.  Prev:Beijing to cut subway fares to boost public transportNext:3Com to Be Sold; Huawei to Take Stake與一般企業(yè)相比，上市公司最大的優(yōu)勢(shì)是能在證券市場(chǎng)上大規(guī)?；I集資金，以此促進(jìn)公司規(guī)模的快速增長。因此，上市公司的上市資格已成為一種“稀有資源”，所謂“殼”就是指上市公司的上市資格。由于有些上市公司機(jī)制轉(zhuǎn)換不徹底，不善于經(jīng)營管理，其業(yè)績表現(xiàn)不盡如人意，喪失了在證券市場(chǎng)進(jìn)一步籌集資金的能力