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Issued Under The GEM Board Of Supervision, Heavyweight Collective Efforts

2013/12/24 21:57:00 11

Gem SFC Heavyweight Debt Ratio Dividends Financing Financing IPO

according to authoritative sources, up to now, the revision of the first round measures is mainly focused on two points. Among them, the most important point is the abolition of the continuous growth of performance requirements. At the same time, for the first round of the second indicators also abolished the growth of 30% requirements. 
Prior to "P", the securities and Futures Commission stipulates that issuers should have certain profitability. In order to meet the needs of different types of enterprises, < < a href= > //www.sjfzxm.com/news/index_c.asp > > financing > /a >, gem has set two quantitative performance indicators for issuers in order to issue applicants. 
 second important revisions are that the Internet and high technology companies can be allowed to issue in the case of no profits, but require the stability of cash flow and satisfy the following conditions, that is, the main business revenue exceeds 100 million; the new three boards are not less than 12 months; the ratio of research funding to the income of high-tech enterprises is not less than 10% in the past three years. 
 according to authoritative sources, for the refinancing of GEM companies, there are five "general conditions" in its management. First, the recent two years of profit (the principle of deduction is not the lowest one); second, in the past two years, the cash dividends have been realized according to the articles of Association; third, the asset liability ratio is higher than 45%; fourth, the investment funds have basically been used, and the results and progress are basically consistent with the disclosure, and the investment fund can not be used to finance the assets; fifth, the major shareholders and the actual controllers fail to fulfill their commitments and can not participate in the subscription. 
 earlier, in some GEM companies which already had < a href= "//www.sjfzxm.com/news/index_f.asp" > IPO < /a >, many fund raising projects were pushed forward by various reasons or failed to advance as scheduled, or the investment projects were changed. 
 it is reported that the refinancing management method also intends to introduce a "small quick" private placement mechanism. 
 the specific conditions are: the single issue is not more than 50 million yuan and does not exceed 10% of the net assets; the general meeting of shareholders has made decisions one time, issued several times, audited for simplification, and made decisions on approval and approval on 15 days; within 12 months, the total amount of financing can not exceed 10% of net assets, and if not, the procedure can not be used. The small amount can be sold to large shareholders, the first 10 shareholders, Dong Jiangao, a href= "http://fz.sjfzxm.com/" > listed company < /a >, and it can be sold independently without sponsoring agencies and main underwriters. 
 today, investment statistics show the views of 8 brokerages on the trend of today's market: see more: 3, ride on the wall: 4, empty 1, today's multi index increased to 38%. China Merchants Securities said that in recent years, at the end of the year, bank capital assessment, A share IPO restart, new three board expansion, the United States started the QE exit mechanism, and the central bank ceased the operation of reverse repurchase for many times. The financial contraction and market sentiment were flurried, resulting in a large decline in the market. In the short term, after market sentiment has been released, along with the gradual introduction of reform rules such as local state-owned enterprises and preferred stock, the possibility of bottoming out of the market will not be ruled out. But at the basic monetary level alone, although the fiscal appropriation at the end of December can partly hedge the current high liquidity demand and postpone the pressure of the imbalance between the supply and demand of the market funds, but in January, < a href= "http://pop.sjfzxm.com/popimg/fz/index.aspx" > foreign exchange < /a > the downpayment of the fund and the surrender of corporate income tax, personal income tax and business tax will still have a lot of pressure on the assets, so the downward pressure on valuations can not be ignored. Under the background of narrow economic growth and overall interest rate rising, there is still no chance for the market to rise systematically.