配股一直我国传统的再融资方式,但从2000年开始增发股票渐渐被越来越多的企业所接受。然而上市公司频繁的募集资金却并没有将资金使用到公司发展上,而是频繁变更募集资金投向,使得投资项目的投入回报率低下,为圈钱而拼凑项目的痕迹明显。 Rights issue has been our traditional way of refinancing, but from the beginning of the year 2000 issuance of shares is gradually accepted by more and more enterprises. However, the frequent raise funds of listed companies did not use the funds to the development of the company. Instead, they frequently changed the investment orientation of the raised funds to make the return on investment of investment projects low.