一、引言所谓缩股流通就是对上市公司中非流通的国家股、法人股缩股后再上市流通的做法。缩股流通的基本思路是将非流通股按照某一比例进行合并股份后,使非流通股合并后的每股估值与流通股的价格基本一致,然后在一级市场上实施流通。 First, the introduction of the so-called syndicated circulation is listed companies in the non-circulation of state shares, shares of legal person shares after the listing of circulation practices. The basic idea of ​​the flow of reduced shares is to merge the non-tradable shares according to a certain percentage. After the merger of non-tradable shares, the valuation of each share is basically the same as the price of tradable shares, and the circulation is then implemented in the primary market.