A-share stock prices frequently experience premium private placements, transmitting multiple signals.

Recently, there have been intensive cases in the A-share market where the issuance price of private placements is higher than the bottom price, causing market attention. Journalists found that many listed companies have an actual issuance price with a premium rate of over 20% compared to the bottom price. From an industry perspective, there are more listed companies in the automotive industry chain involved in cases of premium private placements. Several listed companies, including Jianghuai Automobile and BAIC Blue Valley, have experienced premium private placements. Ye Xiaojie, director of the Finance Department of Shanghai National Institute of Accountancy, believes that the high premium phenomenon in private placements is essentially the result of the resonance of policy, industry, and capital. Ye Xiaojie believes that the high premium private placements send multiple key signals to the market, with the core being that the investment logic of the A-share market is maturing.