725 People 55 institutions Venture board Yang seek 1.193 billion lifting stocks ready to run

Financial Weekly reporter Tan Ting Dingqingyun vera Wang Jiangtao/Wen November 1 restricted shares of the time window, the first batch of 27 gem companies encounter 1.193 billion shares, 31.1 billion of the market value of "Yang Seek." The magic bottle opens to see what financial weekly the issue of institutional investors focused on the lifting of shares of 27 gem companies (Powerleader shareholders pledged 3 years not to reduce their holdings).　　Through the analysis of cobwebs, to reduce the willingness of shareholders. This is a big topic that ties many stakeholders.　　If you draw a concentric circle, the dot is the gem company; the 3-radius circle intersection is the founder shareholder (the actual control person), the risk investor (the venture capital organization and the company executive), the market investor (the two level market transaction institution and the individual).　　From the gem point of view, the head of the halo began to fade--26% performance growth even less than the motherboard, the initial "high growth" positioning encountered a small embarrassment. We do not want the short-term behavior of venture capital to hurt entrepreneurs.　　We also believe that the entrepreneur's diligence and wisdom, can not reduce the shareholder's share price negative effect, all counted to their head. Venture capitalists, corporate executives and core teams, who are business partners of entrepreneurs, are more held in return for financial investment. If it is purely from a commercial point of view, a low stake in the high spot is very clever behavior. But the current public opinion is mainly aimed at them, including the company's senior executives to choose the time to resign, senior executives resign, the urgency of the creation of the current, the creation of a stake in the black-house operation such as on behalf of the holding. For these people, despite the existing rules, the deliberate and even private collusion in the short term is naturally repugnant.　　The market should be highly vigilant. The general investor is in the position of asymmetric information.　　Smart investors know a simple logic that if an executive at an enterprise board chooses to resign early to get out of the way, it's time to vote with your feet. I do not want to compare the gem to Pandora's Box, after all, it is still the "initial stage" of the gem.　　The lifting of the ban as a magic bottle seems more appropriate, as the magic bottle opens to unleash the tangle of interests of all sides, and the real faces of the funds are glance. We've been so restored. Speculators are naturally fleeing because of their profits. What we need to do is to focus on the PE and natural shareholders behind the 27 gem companies, find out their share paths and costs, calculate the release market value they bring, and calculate their cash earnings.　　And through the Beijing-Shanghai-Guangdong three-way reporter actual interview, give the possibility of shareholder reduction, and finally to the small and medium-sized investors to give the company value Trust degree of judgment. Tan Ting editors paid a lot of labor. On the basis of wind and Juli's financial information platform, she looked through the listing announcements to find out the most accurate of the first release of the November 1 institutions and individuals. (The existing financial information platform, and there is no specific lifting of the list of shareholders) She also looked at the share of dividends to expand the stock, update the release of shareholders after the listing of dividends, shares increase, according to the latest price calculated "released market value." With this, by comparing the current market value, to investors with the clearest company circulation market value management data. Detailed view of the lifting details (the lifting of the object and its nature), you can see a lot of information.　　For example, bio-testing, China test the lifting of the release of natural shareholders are more than 100, saying that "people on 100, colorful," these people's share of psychological differences must be very large, the story must be a lot.　　To keep a clear understanding of the first batch of 27 gem companies to ban restricted stocks, derived from many economic, social, and even human problems. I once wrote this micro-blog (http://t.sina.com.cn): "Gem stock or money?" The water skin brain turns quite quickly, it also proposed that the gem whether optimizes the resource allocation question. After all, Wu Xiaotiu on behalf of the official position, said the gem can be done well. And the western thinking researcher, do not know to buy stocks did not, in the current Chinese characteristics system context, its market-oriented simple thinking after all difficult to serve the public. "A well-known securities sponsor representative and I communicate that after the first batch of gem company lifted November 1, the quality of the stock will usher in 3." It revealed that now the management audit gem listed companies, more attention to compliance, performance growth of the general company can also be listed.　　I understand what it says is the gem "packaging listing" means that the market forces will eventually return the stock price back to its original shape. The first gem, which was born with the label "Three High", is still 70 times times higher than the market level. Their share price remains "too high". From the risk point of view, the measurement of their "beta", the theory is bound to be the influence of senior management turnover factors. And most of all, venture investment, executives face is not "Shampate" era, but hundreds of, thousands of times times the speculative return of the risk-earning market!