Core Tip: Horse Spring Festival approaching, elegant birds Corporation fired the first shot in Fujian shares , A shares opened to the door to success . At this point, after a lapse of more than a year to restart the IPO let Jinjiang enterprises started to ” compete ” Domestic motherboard market again.
It is the capital market sector in Jinjiang ” financial reform ” process, the most important stroke. So far, Jinjiang total of over 43 listed companies , 73 companies listed on the reserve , where an enterprise through the issuance examination committee , in addition to two companies which deliver material to the Audit Commission .
It is noteworthy that in the back- listed companies, is no longer just shoes and apparel brand companies , but also includes food, ceramics, machinery and other industries and enterprises . The successful listing of elegant birds Jinjiang transformation and upgrading of traditional industries provide a template.
Years ago, just busy Jinjiang City Finance Office staff told reporters elegant birds listed , along with the successful listing of elegant birds , many companies are listed reserve Jinjiang speed preparing the listing , the capital market sector is expected this year in Jinjiang Jinjiang various industries to achieve ” multi- flowering . ” ” In early March , we will hold a new round of companies listed on counseling training sessions for elegant birds will experience the successful listing of its other businesses to teach .” Above staff said .
November last year , China Securities Regulatory Commission to develop and publish “on further promoting reform IPO advice .” After the “opinion” published more than a year means continuing to suspend IPO restart, and gradually to registration system . But many people in the industry still expressed concern. Currently, the market for risk difficulty registration system reform is also lack of awareness , had been accustomed to living in the approval system , and the new ecological look like the stock market is also full of the unknown .
Despite the market ‘s doubts, there are still many enterprises in Jinjiang listed reserve this IPO restart delighted . “Jinjiang distribution of a large number of high-quality companies in the textile, clothing, food, ceramics and other industries , but they are still in the traditional industrial level, if we can make good use of the capital markets to achieve the Combination , should have unlimited prospects .” Jinjiang Reserve a listed company official Liu told reporters , through advancing technology, financial integration, manufacturing enterprises in Jinjiang place to promote transformation and upgrading .
According to Jinjiang City Finance Office revealed recently , Jinjiang City has prepared a business prior to completion of the listing , submit relevant materials to CSRC , also part of the business , please broker settled related companies , capital markets Jinjiang plate this year there will be good news .
Jinjiang reserve a listed company official Wang said after the IPO reform , for the entire domestic capital market is a great good . Jinjiang enterprises, and healthy development of domestic stock market listing threshold reduction would allow some foreign countries or Hong Kong and Taiwan -listed companies in the future there are likely to return to the mainland market to market.
This year or achieve
More flowering
New requirements derived from new system
Since IPO restart, China Securities Regulatory Commission has issued more than about twenty- IPO institutional policies and regulations related to pricing and placement mechanisms , distribution, and other aspects of regulatory enforcement .
” The IPO system reform , an important step is to the original ‘ substantive review ‘ to ‘ in the form of an audit .’ Securities Commission from the date of acceptance of the application documents issued within three months , will follow the statutory conditions and legal procedures to approve , suspend audit , terminate the audit decision not approved , which means , the Commission on audit to accept the stock time to make a final approval has been mandatory, and the time is shortened to three months which requires companies not only pay attention to its profitability , according to the law and must be fully disclosed all kinds of information to accurately report to the securities regulatory authorities . ” person in charge of a brokerage IPO Liu told reporters .
After the IPO restart, originally proposed in the January issue of the 51 companies listed there are 10 of them were suspended for various reasons listed . The SFC said that if the proposed issuance examination committee found yet to investigate and verify the existence of a listed company and the major issues affecting their judgment , will be in writing prior to the issuance examination committee meeting to vote on the proposed suspension .
Reserve a listed enterprise in Jinjiang Chen said that after this reform , the real decision will be attributed to the IPO market , the focus of regulatory changes to avoid false results and accountability untrue information disclosure . The reforms build accountability mechanisms , strengthening of investment banks , issuers and intermediaries constraints. This requires companies to the healthy development of the practice of excessive packaging is not enough , for some indicators do not require identification Japan blindly, to be solid into the capital markets, companies can duck.
“Commission on the continued profitability of listed companies the ability , independence , ownership structure, information disclosure , the question raised funds , will focus on corporate governance .” Liu said , “This year , the Commission greater emphasis on information disclosed is true and complete and weakened profitability judgment, as long as the risk of revealing the full , not too flawed usually will .
Kuaiyu more popular than fish
” After the IPO reform , whether it is the motherboard or a new three-panel market , investors are not only interested in the size and capacity of the enterprise size , and more care about how much business growth .” CSC analyst Chen told reporters .
Chen said that in the course of listed companies , investment banks and other vested recommended intermediaries, but the main target investment banks and other intermediaries changed. All original investment banking operations are conducted around the Commission issuance examination committee , recommended the selection of listed company, whether state-owned enterprise background , whether the local government is backing investment banks etc. The main factors to consider. In this way of thinking logic, or the traditional manufacturing industries with excess listed companies also have a lot of priorities .
However, after the IPO reform , investment bank screening of listed companies will mainly consider the problem of market acceptance . This means that the future operation of the investment bank , will mainly focus on investors, especially institutional investors .
According to statistics, China has the qualification of a total 79 investment banks , competition among investment banks is very intense , enterprises can obtain recommended approval of investors will directly determine whether a company can be listed . The future direction of the economy in line with science and technology, culture , medicine, environmental protection and other more innovative companies by investors like investment banks and therefore it is recommended as a priority.
“Is now present , the industry ‘s capital market is the most attention is the medical pharmaceutical, energy saving is followed , while some of the larger scale and capacity of traditional manufacturing concern has been difficult investment bank .” Chen said Jinjiang enterprises are still traditional manufacturing -based, if want to visit the capital market favored investment banks , must come to the fore in the industry , of which, the level of innovation and sustained profitability will be the primary factor.
