GEM is allowed to implement new hopes for listing

The GEM, which has been in existence for ten years, has finally entered the stage of implementation. In the list of companies that hit the GEM, we have seen the names of enterprises in emerging industries such as optoelectronics and solar energy. The GEM has been approved by the State Council, and the SMEs are now dawning. Lighting companies have also gained more listing hopes. (It is expected to be the list of 150 enterprises selected for the GEM of the first batch of GEM listed)
What do you think about the GEM being approved by the State Council? What kind of positive hopes will it bring to Chinese lighting companies? Are you engaged in solar energy, optoelectronics, semiconductor and other industries, does this national initiative bring better opportunities for business development? Does your company have a listing plan? Will the machine speed up when it happens?
Write your opinion in the comments section below, Aladdin Lighting Network is looking forward to your voice!
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In the early morning of March 31, the China Securities Regulatory Commission issued the Interim Measures for the Administration of Initial Public Offerings and Listing on the Growth Enterprise Market (hereinafter referred to as the “Interim Measures”), which was implemented on May 1, marking the beginning of the decade. The long-term GEM has finally officially entered the implementation phase.

According to the author's understanding, after the issuance of the Interim Measures, the CSRC and the Exchange will successively promulgate rules and guidelines that are compatible with the Interim Measures, form a GEM issuance review committee, and issue other relevant rules such as the listing rules and special trading regulations. Rules, and training of sponsors, lawyers, accountants and other intermediaries, and through various ways to introduce the characteristics and related systems of the GEM to enterprises and investors, to fully reveal the investment risk of GEM to investors.

After the above work is basically completed, the CSRC will accept the application materials for the initial application of the enterprise in accordance with the Interim Measures and relevant regulations.

There is no problem with these tasks being completed by May 1. An official from the China Securities Regulatory Commission told the author that it takes two to three months from the acceptance of the materials to the actual listing. So it will take a few months before the first companies are listed on the GEM.

Earlier, Chen Dongzheng, chairman of the Shenzhen Stock Exchange, said at the two sessions this year that there would be no fewer than eight GEM companies.

condition

The Interim Measures, which was revised after consultation, did not change the core terms of the listing threshold. It still required the issuer to make continuous profits in the last two years. The net profit in the last two years has accumulated to not less than 10 million yuan and continues to grow. Or profit in the most recent year, and the net profit is not less than 5 million yuan, the operating income in the most recent year is not less than 50 million yuan, and the growth rate of operating income in the last two years is not less than 30%. Two sets of admission criteria can be used as long as they match one.

According to the author's understanding, the management had intended to introduce the GEM management method on the eve of the two sessions, but it was temporarily suspended considering many factors such as market stability. For the GEM may follow the new IPO system, the two are not in conflict, and the IPO system may be implemented before the GEM is listed. A person close to the Securities and Futures Commission said.

At present, the GEM projects prepared by various brokerages have submitted the basic materials to the local securities regulatory bureau where the companies are located, waiting for the formal submission of the materials after the implementation of the Interim Measures. In order to prevent the risk that the GEM can not be launched temporarily, most of the projects recommended by the brokerage companies are in line with the listing conditions of the SME board, so that they can be transferred to the SME board when they are unable to land on the GEM. (Excerpt from the financial network)

What is the GEM?

The GEM, also known as the second board market, is the second stock exchange market. It refers to the stock exchange market outside the main board that provides financing channels and growth space for SMEs and emerging companies that are temporarily unable to go public. It is an effective supply to the main board market. , occupying an important position in the capital market.

The GEM company should be a company with a certain profit base, a certain asset scale, and a certain period of time and high growth.

The biggest feature of the GEM market is the low threshold entry and strict operation, which helps potential SMEs to obtain financing opportunities.

The development of the GEM market in China is to provide more convenient financing channels for SMEs and to create a normal exit mechanism for venture capital. At the same time, this is also an important means for China to adjust its industrial structure and promote economic reform.

For investors, the risk of the GEM market is much higher than the main board market. Of course, the return may be much larger.

Governments have stricter regulations on the second board market. At its core is information disclosure. In addition, the regulator also helps investors choose high-quality companies through the sponsor system. (Liaoning Daily)


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