Can the new three boards really save tu's life?

China Coatings Network
: 2015 has been most of the past, the overall economic situation has not significantly improved at the time,
coatings
industry "winter" front or will continue to length up. Immediately after the first half of 2015 listed
coating enterprises
in the new three-plate listed paint enterprises revenue release, its floating red profit situation, inspired the industry paint enterprises to "listed" the determination, a wave of surge to the new three-plate.
September 11, Zhejiang No Wonder Coatings Co., Ltd. has signed a cooperation agreement with intermediaries, financial system, internal rectification and upgrading, stock reform and other work have begun to operate, is expected to complete preparations by the end of 2015, in the first half of 2016 in the new three board listing. September 14, the national small and medium-sized enterprise share transfer system (commonly known as the "new three board") official website updated the "national share transfer system in the review application for listing of enterprises basic status table (September 11, 2015)" shows that Zhuhai Weiqi Anti-corrosion Technology Co., Ltd. has entered the "new three boards" queue to review the list of enterprises, the status is shown as "to be issued feedback." In early September alone, two paint companies proposed a new three-board listing.
According to the small editor statistics, as of August 2015, in the country's small and medium-sized enterprises share transfer system of paint
painting
, ink manufacturing listed enterprises have reached 36, including: Mei Tus, Jiren high-rise, Linghu paint, Pentium shares, star arc coating, Jihua materials, Jufeng shares, Cer xingxin material, Uber Ko, Yida Chemical, Changsan New Materials, Meiqi Chemical, Kaihua Materials, Sellick, JiazhiNoxin, Yi porcelain dragon, Tianbang Coatings, Oc refinement, Yonghui shares, Jinsenyuan, Huiming, Seven Colors Pearl, Roman New Materials, Kofu shares, Mei special, Xingyu shares, Runtai shares and so on. (Extended reading: New three-plate 36 paint ink enterprises in the first half of 2015 revenue list)
. Enterprise listing, the reason is no more than two, one is lack of money, hope to be able to obtain financing through listing; The reason for going public is probably understandable, and that . . .
. For the new three boards, there have been industry sources said: "the threshold is lower than the main board, GEM market, but does not hinder corporate financing, this is the magic of the new three boards." It
difficult for domestic enterprises to enter the capital market directly from the IPO path. According to the information learned by the editor, Zhanchen Coatings completed the share system transformation in April 2010, passed the Environmental Protection Ministry's listed environmental verification on September 12, 2012, and entered the CSRC IPO review in May 2013, but was terminated in July 2013, indicating that the first round of the IPO of Zhanchen Coatings failed.
another company, Jiabao, which introduced a share reform in June 2011, has long been considered "the closest paint company to a listing", but in October 2012, the CSRC released the company's IPO filing information, and Carberry's IPO application was terminated on October 23.
situation, enterprises have to change the way of road, and the "new three board" is undoubtedly the best choice. People who have a certain understanding of the new three boards know that the new three board listing conditions than IPO simple, its annual output value and profitability of enterprises have no clear requirements, enterprises only need to have the ability to continue operating, survival for 2 years, the main business outstanding high-tech requirements can be.
listed company can realize share transfer, targeted issuance, debt financing, merger and reorganization, equity incentive, standardized governance and credit promotion through the national share transfer system, which will comprehensively enhance the enterprise's ability to obtain financial services. The national share transfer system is an important part of China's multi-level capital market, which has set up a new securities trading financing platform for small and medium-sized enterprises and will become the main channel for small and medium-sized enterprises to enter the capital market. In this regard, the new three boards can be regarded as the "life-saving straw" for the development of tu enterprises.
, however, it is easy to overlook that there are many problems with corporate listings, such as the difficulty of reconcileing the distribution of shareholders' interests. While the company's post-listing operations will be more regulated and the risk of making mistakes will be reduced, global
Coatings network
understands that every major decision from the pre-listing "one-person count" to the post-listing must go through the board process, which will also lead to conflicts between entrepreneurs and shareholders. On the other hand, after the listing of the company's financial information must also be made public, handling is not good, it is easy to let the competition from grasping the lifeblood of the enterprise and the enterprise's trade secrets, easy to form competition.
come again, industry experts said that the new three-board market is very hot, but overall the size of the new three-board company than the main board company is much smaller, less anti-risk ability, performance fluctuations are also large. In addition, the new three-board market liquidity is weak, trading is not active, etc. are testing the proposition of enterprises.
, the stock market volatility is fierce, the main board, GEM's plunge on the new three board market is very large. First, the valuation of the new three boards is already higher than that of the GEM. Second, the new three board hot because of the future demand for the board, but it is understood that the new three board will not be achieved in the short term.
fact, enterprises to do bigger and stronger is certainly not only the listing of this road, the new three classes listed is a shortcut but not the best. As Zhao Ruihai said after Qumei's listing, "Listing is only one thing in the process of enterprise development, we hope to be responsible for long-term investors, hope that the post-listing work is more robust, can bring more long-term returns." "In short, the landing of enterprises in the capital market is a ballet on the tip of the knife, beautiful but also dangerous, whether they can go long-term, it depends on whether the enterprise under the "hard work."
recently, in order to standardize the new three-board listing business has also introduced a number of systems. On September 9th, the National Stock Exchange System Company issued the Answers to Several Questions on the Application of Listing Conditions (I), which answered questions on the application for listing of subsidiaries of the company, environmental protection, sustainable operation ability, financial regulation, change of actual controller or major business transformation. Analysts said that the introduction of the "answer" will raise the threshold for paint companies to list new three boards. (Extended reading: the new three boards again refined the conditions of coating enterprise listing threshold increased)
. Therefore, some people in the industry also said that enterprises want to do well, there is development, only innovative business model can attract more capital, into the new three boards, that is "others" to give you money, no pie in the sky, that is just "others" want more income. If spending money is not profitable, then "others" will not be willing to play with you, listing may not be the "life-saving straw" of the enterprise.