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狸花喵喵

狸花喵喵

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2021-07-19

$老虎证券(TIGR)$各位股神，这票有可能跌到1块钱吗？[捂脸] [捂脸] [捂脸]

2021-07-23

$NeuroMetrix(NURO)$要不要补仓？

2021-07-22

$滴滴(DIDI)$滴滴今晚飙到20给你点赞[666] [666] [666]

2021-08-05

$快手-W(01024)$各位股神，什么时候可以进场？[财迷] [财迷] [财迷]

2021-08-10

$老虎证券(TIGR)$今晚30[财迷] [财迷] [财迷]

2021-07-26

$NeuroMetrix(NURO)$有和我一样站在高岗上的吗？[捂脸] [捂脸] [捂脸]

2021-07-24

$NeuroMetrix(NURO)$我该怎么办？是割，还是留，请各位股神给个参考建议呗。[无语] [无语] [无语]

2021-07-20

$滴滴(DIDI)$各位股神看看我要不要补仓？

2021-08-17

$小鹏汽车-W(09868)$小鹏怎么跌成这样？小鹏出什么事了啊？

去老虎APP查看更多动态

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href=\"https://laohu8.com/S/DIDIY\">$DiDi Global Inc.(DIDIY)$ &nbsp;</a>","listText":"<a href=\"https://laohu8.com/S/DIDIY\">$DiDi Global Inc.(DIDIY)$ &nbsp;</a>","text":"$DiDi Global Inc.(DIDIY)$","images":[{"img":"https://static.tigerbbs.com/ea51c9d71fe3dfba2487fa260628f1d8","width":"1080","height":"2182"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/627021274","isVote":1,"tweetType":1,"viewCount":5036,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3567133274248068","authorId":"3567133274248068","name":"Cyounggggg","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":5,"crmLevelSwitch":0,"idStr":"3567133274248068","authorIdStr":"3567133274248068"},"content":"再买入，降成本吧，不然很难回本的","text":"再买入，降成本吧，不然很难回本的","html":"再买入，降成本吧，不然很难回本的"}],"imageCount":1,"langContent":"EN","totalScore":0},{"id":611217037,"gmtCreate":1650506970523,"gmtModify":1650506970523,"author":{"id":"3581665137299680","authorId":"3581665137299680","name":"狸花喵喵","avatar":"https://static.tigerbbs.com/9bfb11defdc766ad8396115ea23c603a","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581665137299680","authorIdStr":"3581665137299680"},"themes":[],"htmlText":"退市了我们手上股票怎么办？","listText":"退市了我们手上股票怎么办？","text":"退市了我们手上股票怎么办？","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/611217037","repostId":"1104106274","repostType":2,"repost":{"id":"1104106274","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1650327648,"share":"https://www.laohu8.com/m/news/1104106274?lang=zh_CN&edition=full","pubTime":"2022-04-19 08:20","market":"us","language":"zh","title":"滴滴将发起退市投票，股票持有者该怎么办？","url":"https://stock-news.laohu8.com/highlight/detail?id=1104106274","media":"老虎资讯综合","summary":"4月16日，滴滴发布公告称，将于2022年5月23日19:00举行特别股东大会，就本公司的美国存托股票在纽约证券交易所的自愿退市进行投票，在退市完成前，本公司将不会申请其股份在其他任何证券交易所上市。","content":"<html><head></head><body><p>4月16日，<a href=\"https://laohu8.com/S/DIDI\">滴滴</a>发布公告称，将于2022年5月23日19:00举行特别股东大会，就本公司的美国存托股票在纽约证券交易所的自愿退市进行投票，在退市完成前，本公司将不会申请其股份在其他任何证券交易所上市。</p><p>滴滴公告称，在特别股东大会上，滴滴的A类和B类普通股的股东均将以每股一票的方式投票。滴滴将继续尝试在另一家国际认可的交易所上市的可能性。<img src=\"https://static.tigerbbs.com/933ab6a30ac2f24d2738847f47d1fb47\" tg-width=\"1843\" tg-height=\"821\" referrerpolicy=\"no-referrer\"/>对此，证监会回应称：这是企业根据市场和自身情况作出的自主决策。证监会一贯坚持企业境外上市活动应当遵守上市地和经营地的法律法规和监管规则，要求上市公司切实保护投资者，尤其是中小投资者的合法权益。滴滴自主退市这一特定个案，与其他在美上市中概股无关，与目前正在进行的中美审计监管合作磋商无关，不影响双方合作进程。</p><p><span style=\"color:rgba(245,166,35,1);\"><b>什么是自愿退市？</b></span></p><p>按照美国证券法的规定，美国上市公司的董事会可决议批准自愿退市，随后书面通知交易所并在10日内向SEC提交Form-25，从而完成退市。值得注意的是，按照上述程序自愿退市的公司的股份可继续以场外方式(OTC)交易。</p><p>自愿退市并不受制于严苛的股东审批要求（除非注册地公司法有特殊要求）。</p><p><span style=\"color:rgba(245,166,35,1);\"><b>公告背后有哪些信息值得关注？</b></span></p><p>首先，据市场人士分析，根据滴滴官网发布的公告显示，由于滴滴完成退市前，不会申请在其他易所上市，打消股份在其他交易所先上市，做好美股投资者无缝交接的念头，即现时持持股权的股东，将一直持有股份，在退市后若想交易，将于OTC粉单市场自行买卖。根据通告，在退市完成后，持有公司ADS或普通股的股东，或会在OTC粉单市场交易，滴滴将不会介入（involvement）。</p><p>由于交易难度增加，一般投资者会投票赞成退市的意愿减低，加上没有提及用一个理想的价钱私有化，若退市表决获得通过，对股价仍有压力。<b>公告指出，下周四（4月28号）是公司确定哪些股东在5月23日退市决议中能够拥有投票权的最后一天。</b></p><p>另外，有分析指出，滴滴公告提及这是自愿退市（voluntary delisting），不是私有化（private transaction），也不是公开市场回购（open-market purchases）。这里面区别很大，自愿退市没有底价，只要有股东决议就可以摘牌了。</p><p><span style=\"color:rgba(245,166,35,1);\"><b>至于股东的投票意愿如何？</b></span></p><p>据香港经济日报，目前，滴滴ADS发行A类股份43.54亿份，1股普通股相当于4股ADS，即10.885亿股普通股，B类股份1.17亿股，原为一股10票，不过退市投票时，A、B类股份均为一票，即12.06亿票。</p><p>构机投资者方面，GALILEO（PTC）LTD持有 7,588.4万股ADS，即1897万股普通股或1.57%，DAVIS SELECTED ADVISERS持有4,748.8万ADS，持股约1%，BEDFORD RIDGE CAPITAL LP持有4,581.5万股ADS，持股约1%，其是新增持仓。</p><p><b>虽然机构投资者或各有取态，软银、Uber等上市前投资者已持有45.05%，该媒体预期获过半数支持退市，难度不会太大。</b></p><p><b>在了解美股退市相关情况之前，首先需要明确的是，退市并不相当于企业破产，也不意味着该股股票完全退出流通。</b></p><p><b><span style=\"color:rgba(245,166,35,1);\">那么对于持有滴滴的投资者来说，自愿退市到底意味着什么？</span></b></p><p>作为与私有化交易实质不同的退市方式，<b>自愿退市至少有以下不确定性及风险：</b></p><blockquote>1、虽然自愿退市无需受制于SEC或交易所的批准，但SEC有权为衡量退市是否符合美国证券法规定之目的而推迟退市生效时间、亦有权为保护投资者之目的而决定对退市施加额外条件；</blockquote><blockquote>2、自愿退市完成后，因不涉及收购方对非公众股东所持股份的收购，上市公司将保留众多利益不统一的小股东（包括存托股票或存托凭证持有人）。虽然非关联小股东无权直接要求上市公司或控股股东回购/收购其持有的股份，但其将继续就相应股份享有投票权和分红权（若有）；</blockquote><blockquote>3、若小股东认为批准自愿退市的决定的董事违反了其信义义务（Fiduciary Duties），则有可能就该董事提起诉讼——特别是若上市公司经董事会决定自愿退市后，短时间内上市公司的控股股东或其他关联方提议以较低价格收购小股东所持股份；以及</blockquote><blockquote>4、自愿退市后，上市公司股东所持股份虽然可以继续进行场外交易，但此时流动性及股价将显著低于在纽交所等交易所交易时的情形。</blockquote><p>自愿退市应符合上市公司注册地适用法律之规定及美国证券法。但是，在自愿退市的情形下，上市公司无需像私有化交易一样受规则13e-3的诸多限制，一般亦无需股东大会审议通过（除非公司章程另有规定），且小股东通常并无异议权。</p><p>相比私有化退市，自愿退市在流程上简单很多、所需时间亦相应较短。对于仅希望实现退市、并不强调清理非关联小股东的上市公司而言，自愿退市无疑具有不小的吸引力。<img src=\"https://static.tigerbbs.com/67bd32797c869b75100719f6f946eb5b\" tg-width=\"772\" tg-height=\"1541\" width=\"100%\" height=\"auto\"/></p><p>资本市场风云瞬息万变，进入与退出都是市场常态，退市制度是资本市场健康发展的基础性制度之一。<b>对于滴滴退市事宜的后续进展，投资者仍需以公司公告为准。</b></p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>滴滴将发起退市投票，股票持有者该怎么办？</title>\n<style 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}\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n滴滴将发起退市投票，股票持有者该怎么办？\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time\">2022-04-19 08:20</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>4月16日，<a href=\"https://laohu8.com/S/DIDI\">滴滴</a>发布公告称，将于2022年5月23日19:00举行特别股东大会，就本公司的美国存托股票在纽约证券交易所的自愿退市进行投票，在退市完成前，本公司将不会申请其股份在其他任何证券交易所上市。</p><p>滴滴公告称，在特别股东大会上，滴滴的A类和B类普通股的股东均将以每股一票的方式投票。滴滴将继续尝试在另一家国际认可的交易所上市的可能性。<img src=\"https://static.tigerbbs.com/933ab6a30ac2f24d2738847f47d1fb47\" tg-width=\"1843\" tg-height=\"821\" referrerpolicy=\"no-referrer\"/>对此，证监会回应称：这是企业根据市场和自身情况作出的自主决策。证监会一贯坚持企业境外上市活动应当遵守上市地和经营地的法律法规和监管规则，要求上市公司切实保护投资者，尤其是中小投资者的合法权益。滴滴自主退市这一特定个案，与其他在美上市中概股无关，与目前正在进行的中美审计监管合作磋商无关，不影响双方合作进程。</p><p><span style=\"color:rgba(245,166,35,1);\"><b>什么是自愿退市？</b></span></p><p>按照美国证券法的规定，美国上市公司的董事会可决议批准自愿退市，随后书面通知交易所并在10日内向SEC提交Form-25，从而完成退市。值得注意的是，按照上述程序自愿退市的公司的股份可继续以场外方式(OTC)交易。</p><p>自愿退市并不受制于严苛的股东审批要求（除非注册地公司法有特殊要求）。</p><p><span style=\"color:rgba(245,166,35,1);\"><b>公告背后有哪些信息值得关注？</b></span></p><p>首先，据市场人士分析，根据滴滴官网发布的公告显示，由于滴滴完成退市前，不会申请在其他易所上市，打消股份在其他交易所先上市，做好美股投资者无缝交接的念头，即现时持持股权的股东，将一直持有股份，在退市后若想交易，将于OTC粉单市场自行买卖。根据通告，在退市完成后，持有公司ADS或普通股的股东，或会在OTC粉单市场交易，滴滴将不会介入（involvement）。</p><p>由于交易难度增加，一般投资者会投票赞成退市的意愿减低，加上没有提及用一个理想的价钱私有化，若退市表决获得通过，对股价仍有压力。<b>公告指出，下周四（4月28号）是公司确定哪些股东在5月23日退市决议中能够拥有投票权的最后一天。</b></p><p>另外，有分析指出，滴滴公告提及这是自愿退市（voluntary delisting），不是私有化（private transaction），也不是公开市场回购（open-market purchases）。这里面区别很大，自愿退市没有底价，只要有股东决议就可以摘牌了。</p><p><span style=\"color:rgba(245,166,35,1);\"><b>至于股东的投票意愿如何？</b></span></p><p>据香港经济日报，目前，滴滴ADS发行A类股份43.54亿份，1股普通股相当于4股ADS，即10.885亿股普通股，B类股份1.17亿股，原为一股10票，不过退市投票时，A、B类股份均为一票，即12.06亿票。</p><p>构机投资者方面，GALILEO（PTC）LTD持有 7,588.4万股ADS，即1897万股普通股或1.57%，DAVIS SELECTED ADVISERS持有4,748.8万ADS，持股约1%，BEDFORD RIDGE CAPITAL LP持有4,581.5万股ADS，持股约1%，其是新增持仓。</p><p><b>虽然机构投资者或各有取态，软银、Uber等上市前投资者已持有45.05%，该媒体预期获过半数支持退市，难度不会太大。</b></p><p><b>在了解美股退市相关情况之前，首先需要明确的是，退市并不相当于企业破产，也不意味着该股股票完全退出流通。</b></p><p><b><span style=\"color:rgba(245,166,35,1);\">那么对于持有滴滴的投资者来说，自愿退市到底意味着什么？</span></b></p><p>作为与私有化交易实质不同的退市方式，<b>自愿退市至少有以下不确定性及风险：</b></p><blockquote>1、虽然自愿退市无需受制于SEC或交易所的批准，但SEC有权为衡量退市是否符合美国证券法规定之目的而推迟退市生效时间、亦有权为保护投资者之目的而决定对退市施加额外条件；</blockquote><blockquote>2、自愿退市完成后，因不涉及收购方对非公众股东所持股份的收购，上市公司将保留众多利益不统一的小股东（包括存托股票或存托凭证持有人）。虽然非关联小股东无权直接要求上市公司或控股股东回购/收购其持有的股份，但其将继续就相应股份享有投票权和分红权（若有）；</blockquote><blockquote>3、若小股东认为批准自愿退市的决定的董事违反了其信义义务（Fiduciary Duties），则有可能就该董事提起诉讼——特别是若上市公司经董事会决定自愿退市后，短时间内上市公司的控股股东或其他关联方提议以较低价格收购小股东所持股份；以及</blockquote><blockquote>4、自愿退市后，上市公司股东所持股份虽然可以继续进行场外交易，但此时流动性及股价将显著低于在纽交所等交易所交易时的情形。</blockquote><p>自愿退市应符合上市公司注册地适用法律之规定及美国证券法。但是，在自愿退市的情形下，上市公司无需像私有化交易一样受规则13e-3的诸多限制，一般亦无需股东大会审议通过（除非公司章程另有规定），且小股东通常并无异议权。</p><p>相比私有化退市，自愿退市在流程上简单很多、所需时间亦相应较短。对于仅希望实现退市、并不强调清理非关联小股东的上市公司而言，自愿退市无疑具有不小的吸引力。<img src=\"https://static.tigerbbs.com/67bd32797c869b75100719f6f946eb5b\" tg-width=\"772\" tg-height=\"1541\" width=\"100%\" height=\"auto\"/></p><p>资本市场风云瞬息万变，进入与退出都是市场常态，退市制度是资本市场健康发展的基础性制度之一。<b>对于滴滴退市事宜的后续进展，投资者仍需以公司公告为准。</b></p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/90e9b3b1ac56aae7290447c10b3ea865","relate_stocks":{"DIDI":"滴滴(已退市)"},"source_url":"","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1104106274","content_text":"4月16日，滴滴发布公告称，将于2022年5月23日19:00举行特别股东大会，就本公司的美国存托股票在纽约证券交易所的自愿退市进行投票，在退市完成前，本公司将不会申请其股份在其他任何证券交易所上市。滴滴公告称，在特别股东大会上，滴滴的A类和B类普通股的股东均将以每股一票的方式投票。滴滴将继续尝试在另一家国际认可的交易所上市的可能性。对此，证监会回应称：这是企业根据市场和自身情况作出的自主决策。证监会一贯坚持企业境外上市活动应当遵守上市地和经营地的法律法规和监管规则，要求上市公司切实保护投资者，尤其是中小投资者的合法权益。滴滴自主退市这一特定个案，与其他在美上市中概股无关，与目前正在进行的中美审计监管合作磋商无关，不影响双方合作进程。什么是自愿退市？按照美国证券法的规定，美国上市公司的董事会可决议批准自愿退市，随后书面通知交易所并在10日内向SEC提交Form-25，从而完成退市。值得注意的是，按照上述程序自愿退市的公司的股份可继续以场外方式(OTC)交易。自愿退市并不受制于严苛的股东审批要求（除非注册地公司法有特殊要求）。公告背后有哪些信息值得关注？首先，据市场人士分析，根据滴滴官网发布的公告显示，由于滴滴完成退市前，不会申请在其他易所上市，打消股份在其他交易所先上市，做好美股投资者无缝交接的念头，即现时持持股权的股东，将一直持有股份，在退市后若想交易，将于OTC粉单市场自行买卖。根据通告，在退市完成后，持有公司ADS或普通股的股东，或会在OTC粉单市场交易，滴滴将不会介入（involvement）。由于交易难度增加，一般投资者会投票赞成退市的意愿减低，加上没有提及用一个理想的价钱私有化，若退市表决获得通过，对股价仍有压力。公告指出，下周四（4月28号）是公司确定哪些股东在5月23日退市决议中能够拥有投票权的最后一天。另外，有分析指出，滴滴公告提及这是自愿退市（voluntary delisting），不是私有化（private transaction），也不是公开市场回购（open-market purchases）。这里面区别很大，自愿退市没有底价，只要有股东决议就可以摘牌了。至于股东的投票意愿如何？据香港经济日报，目前，滴滴ADS发行A类股份43.54亿份，1股普通股相当于4股ADS，即10.885亿股普通股，B类股份1.17亿股，原为一股10票，不过退市投票时，A、B类股份均为一票，即12.06亿票。构机投资者方面，GALILEO（PTC）LTD持有 7,588.4万股ADS，即1897万股普通股或1.57%，DAVIS SELECTED ADVISERS持有4,748.8万ADS，持股约1%，BEDFORD RIDGE CAPITAL LP持有4,581.5万股ADS，持股约1%，其是新增持仓。虽然机构投资者或各有取态，软银、Uber等上市前投资者已持有45.05%，该媒体预期获过半数支持退市，难度不会太大。在了解美股退市相关情况之前，首先需要明确的是，退市并不相当于企业破产，也不意味着该股股票完全退出流通。那么对于持有滴滴的投资者来说，自愿退市到底意味着什么？作为与私有化交易实质不同的退市方式，自愿退市至少有以下不确定性及风险：1、虽然自愿退市无需受制于SEC或交易所的批准，但SEC有权为衡量退市是否符合美国证券法规定之目的而推迟退市生效时间、亦有权为保护投资者之目的而决定对退市施加额外条件；2、自愿退市完成后，因不涉及收购方对非公众股东所持股份的收购，上市公司将保留众多利益不统一的小股东（包括存托股票或存托凭证持有人）。虽然非关联小股东无权直接要求上市公司或控股股东回购/收购其持有的股份，但其将继续就相应股份享有投票权和分红权（若有）；3、若小股东认为批准自愿退市的决定的董事违反了其信义义务（Fiduciary Duties），则有可能就该董事提起诉讼——特别是若上市公司经董事会决定自愿退市后，短时间内上市公司的控股股东或其他关联方提议以较低价格收购小股东所持股份；以及4、自愿退市后，上市公司股东所持股份虽然可以继续进行场外交易，但此时流动性及股价将显著低于在纽交所等交易所交易时的情形。自愿退市应符合上市公司注册地适用法律之规定及美国证券法。但是，在自愿退市的情形下，上市公司无需像私有化交易一样受规则13e-3的诸多限制，一般亦无需股东大会审议通过（除非公司章程另有规定），且小股东通常并无异议权。相比私有化退市，自愿退市在流程上简单很多、所需时间亦相应较短。对于仅希望实现退市、并不强调清理非关联小股东的上市公司而言，自愿退市无疑具有不小的吸引力。资本市场风云瞬息万变，进入与退出都是市场常态，退市制度是资本市场健康发展的基础性制度之一。对于滴滴退市事宜的后续进展，投资者仍需以公司公告为准。","news_type":1,"symbols_score_info":{"DIDI":0}},"isVote":1,"tweetType":1,"viewCount":4972,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":634333777,"gmtCreate":1647348597923,"gmtModify":1647348597923,"author":{"id":"3581665137299680","authorId":"3581665137299680","name":"狸花喵喵","avatar":"https://static.tigerbbs.com/9bfb11defdc766ad8396115ea23c603a","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581665137299680","authorIdStr":"3581665137299680"},"themes":[],"htmlText":"<a 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