Don't let "order small essays" undermine the credibility of the capital market

Securities Times reporter Wu Shaolong

Recently, “order short essays” have repeatedly emerged in the A-share market. An order rumor of unknown origin and a cooperation message expressed vaguely can drive the stock price to surge. After the hype fades, the stock price quickly falls back, and many investors have suffered severe losses as a result.

An order is originally a true reflection of a company’s operating strength and the state of industry conditions. A solid large order is both a reliable support for corporate performance and a positive signal of improving industry prospects, as well as a source of fresh confidence for the capital market. But when orders are packaged as “order short essays” and spread in a way that exaggerates, is vague, and takes statements out of context, they are distorted into a tool for short-term speculation, misleading market expectations and polluting the investment ecosystem.

The reason “order short essays” can spread quickly is related to the acceleration of information dissemination in the market and the fact that investor sentiment can be easily ignited; it also reflects a real issue that market information disclosure needs to be more transparent and expectation guidance needs to be more timely. In today’s environment of rapid information spread, how to ensure that authoritative voices run ahead of rumors, how to replace vague narratives with the real situation, and how to let rational judgment defeat emotional bandwagon-following are exam questions that all parties in the market need to face together.

To safeguard a clear and healthy market environment, multiple parties must work in the same direction. Listed companies should stick to the authenticity, accuracy, and completeness of information disclosure; issue timely and standardized announcements for major orders; and proactively respond to market rumors to correct misunderstandings, so as to build trust on a solid foundation of solid operations and transparent governance. Institutions and media should strengthen professional judgment—without hyping, without blindly following, and without engaging in speculation—to jointly convey rational voices. On the regulatory side, continuous efforts should be made to strengthen supervision during and after the fact, promptly correct misleading information and violations, and maintain a fair and orderly market. For investors, they must also keep their eyes open and maintain resolve. Faced with “order messages” flying everywhere, look more at announcements and listen to fewer rumors; discern the substance rather than chase hot spots; check whether the order has an official contract, whether it aligns with the company’s main business, and whether there is a basis for performance and fulfillment—so that short-term fluctuations do not interfere, and the main line of value investing is upheld.

The foundation of the capital market lies in truth and trust; the growth of high-quality enterprises relies on hard work and performance. Don’t let “order short essays” drain market trust, and don’t let short-term speculation lead to long-term value being pushed off course. Only by making information more transparent, expectations more stable, and investing more rational can capital flow to truly high-quality enterprises with real performance, strength, and prospects—thereby promoting high-quality development of the capital market.

(Editor: Dong Pingping)

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