Zhongfu Industry's share reform program is the industry as the most parsimonious solution, Zhongfu Industry's vote is manipulated by the media called the scandal process. However, all this does not affect the voting share reform Zhongfu Industry results, although 78.79% of the outstanding shares in favor of the rates do not seem to the United States, but even 99.9% in favor of the rate of then?Zhongfu Industry's performance can be described as near misses. Not coincidentally, Zhongfu vote actually the second batch of pilot, in fact, all of the share reform is to wrap up as a pilot. Zhongfu Industry clearance, happy, Zhongfu Industry failure, harm.Including water, in fact, many investors, including the skin is particularly want to see Zhongfu Industry failure, as was particularly want to scrap the program Tongfang the same but, as the mood of a long wait but it is not the same result. This result is full of depressed people.Water skin in the thought, then voted against a shareholder Tongfang will think, they will regret it? Perhaps the disappointment of shareholders for the Zhongfu Industry? Fan Wei borrow in the "car dealers" in the words of pieces are out of the investors in a market, the difference gnaw so much?Tongfang solution is to send 10, 10, Zhongfu Industry of the program is 10 get 1.10 pass program to send 10, 10, was passed to send a program, and really just decided to communicate the success or failure it?I am afraid not so simple.Have pointed out, the second batch of pilot fine with the market, political environment, it is all and the first pilot, great changes occurred. If the first batch of four pilot watching the market environment as relatively rational, then the second batch of 42 pilot with the herd, the investor has in fact inexplicable in a fever of the collective unconscious, not to speak one after another to create a favorable policy environment posed by the movement out of the chaos.One is the so-called chaos broker loans. An unknown number of central bank refinancing allegedly without the knowledge of the brokerage and securities firms allocated to the account, and the use of specified, is nothing but overweight equities. Sinopec jumped all the way then, or more than 30%, while the Shanghai index points from 1000 up to the 1200 points, up to 20% range, forming a sort of a small wave of intermediate rally.The second confusion is the so-called benchmark model. Second most important feature is the introduction of the pilot of Baosteel and Yangtze Power such blue chips, not only the market is the role of management also looking forward to their benchmark. However, their scheme is not only disappointing, their behavior is more painful, especially in Yangtze Power, coercion, doing their utmost, completely losing the exemplary role models, promote value of the lost pilot.Third, the so-called chaos Zhuanggu effect. G shares will rise or plate for a long time can understand the actual Tianquan theoretical ex-rights can be understood, but it can not be mad all speculation because the Shanghai local shares. Tire rubber and Chlor-Alkali Chemical rose by 160% or so. Tire & Rubber rose to 8.95 yuan from 3.35 yuan. Chlor-Alkali Chemical rose to 7.71 yuan from 3.01 yuan, tire rubber, semi-annual performance is 0.06 yuan, while the chlor-alkali chemical in the semi-annual report shows it is a loss. Chlor-Alkali Chemical and tire rubber has become a Shanghai local stocks led the recent stock performance does not depend on, rely on the conjecture is not reliable. The total share capital of the chlor-alkali chemical 11.64 billion shares, outstanding shares of only 2783 shares, the total share capital of the tire rubber 889 million shares, float caps only 2288 shares, share capital structure is caused by this particular people Major Holders of high expectations, to form the dealer to rely on small-cap stocks to make the major shareholder of conjecture.One of the consequences of chaos 300 billion into the stock after the refinancing and how to do?Second, the consequences of chaos on the price range of the pilot, where? Especially in blue chip companies on the price range, whether it is sent to the China Yangtze Power 0.66 par of 10, or 10 to get 2.22 shares of Baoshan Iron and Steel in line?The third consequence of chaos is to manipulate the market or to market regulation? Who Chlor-Alkali Chemical and tire rubber speculation to a claim?Surface, the second batch of pilot is to present the typical "one-sided", all through. Of course, it is not caused by one-sided flow of some people that shares a strong position due to the contrary, from 10 to 10 get 0.66 shares of stock can get through 5, indicating that the choice of the hands of holders of tradable shares is limited. For institutional investors, only the freedom to agree to, but do not have the freedom to choose not to agree, for retail investors, they have the freedom to vote, but the share reform is facing the pass, the listed companies have been marginalized danger, the lesser of two evils right, waiver is their best choice.Pilot try out anything at all?Some people think that the second batch of pilot test out the popularity, try out the market, try out the courage of investors to participate in the share reform, try out the management's confidence.It was then that the second batch of pilot is a failure, because in order to prop up the market, the Government's capital market; for propping up the market, resulting in the wrong market signals; for propping up the market, the management turn a blind eye to the Zhuanggu; because the prop, connivance shareholder Zuozhuang; because prop up the market listed companies acquiesced to profiteer, lawlessness, will inevitably lead to serious consequences.If the pilot is not one-sided mixed more authentic and natural. A contrast, only relatively, from this perspective, signs of the second batch of pilot human too, is not conducive to the share reform in full swing. Meanwhile, the second batch of the negative effects of by-product of the pilot is quite a lot.One product of the so-called management options reward. The intention is to stimulate executives ride share reform initiative, but the results may lead to state-owned system pressure, thus affecting the overall situation of the share reform.The second product is called warrants. Warrants will visit the Shanghai Stock Exchange Baosteel, Yangtze Power's warrant is imminent. Speculative risk warrants than the stock itself, necessarily lead to the diversion of funds.The third product is called refinancing incentives. This is actually a bad habit of misappropriating encourage listed companies, if the share reform in full swing, it may not draw off the old and new, additional offering all first false start.The pilot is over, the Commission's share reform guidelines and policy guidelines for the forthcoming SAC, how to stabilize the market and protect the interests of investors to find a balance we did not find the answer, trial and error is inevitable, and this is the cost of the pilot.Fan Wei Zhuang had a sound guy, life and life is Zhao in "Maiguai" in the flicker became a cripple, but do not want this looking for Zhao afterwards also in the "car dealers" in been fooled into mental retardation.Zhongfu Industry 10 get 1 share reform program through, 10 to send 10 Tongfang share reform program has Pibi, and investors whom 忽悠 become a "Fan Wei", God knows!