New Sanbanxi expansion

With the new Sanbanxi expansion timetable finalized, the national more than 50 High-tech parks in making determined efforts, and actively strive to get the pilot qualification text/"Caijing National weekly" journalist Snow next to the gem, margin financing, stock index futures and smooth operation, the recent OTC market construction overall plan is gradually clear.　　According to the paper issued by China Securities Association recently, the preparatory work for the "new Sanbanxi" will be completed before the end of 2010, and will be officially launched in the first half of 2011. In the domestic multi-level capital market system, the new Sanbanxi market refers to the transfer system of the agency of the unlisted Limited company which is the pilot of Zhongguancun Science Park. According to the design, the new Sanbanxi will be in the original Zhongguancun Science park on the basis of the pilot, the scope will be extended to other qualified national High-tech Park. At the same time, the market-maker system, which has attracted much attention, will be launched.　　and qualified natural investors can also participate in the market. The new Sanbanxi was approved by the State Council on January 23, 2006 and has now been listed by 71 companies.　　Because it is more suitable for small, in the start-up period or early growth of enterprises, in some industry, the new Sanbanxi in positioning, than the gem closer to the "China's Nasdaq."　　A number of expansion with the new Sanbanxi expansion timetable finalized, the national more than 50 High-tech parks in making determined efforts, and actively strive to get the pilot qualification. Shanghai Zhangjiang Hi-Tech Park is expected to launch its own transfer system, according to the relevant person in charge.　　At present, 36 companies have identified the intention to deal with the system, of which 7 have signed the relevant entry system agreement with the sponsoring broker.　　Suzhou High-tech zone has also introduced the top 5 in the new Sanbanxi successful record listed enterprises additional bonus 500,000 yuan cash policy. Compared to the Suzhou High-tech Zone award, Foshan's rewards are broader and bonuses have quadrupled.　　Foshan, deputy director of the Financial bureau Wu said that Foshan government issued a new Sanbanxi listed companies to support the interim measures, the new Sanbanxi listed enterprises into the existing listed support enterprise scope, and the first 15 listed companies can also be 1 million yuan to support the fund. In the industry, compared to the increase in the number of pilots, more importantly, the new Sanbanxi expansion is accompanied by the corresponding system innovation.　　It is revealed that the new Sanbanxi market maker system has been identified in the design. Industry insiders explained to reporters that market makers, as franchise dealers, can continuously report to public investors the price of certain securities (two-way quotes), and at that price to accept the demand of public investors, their own funds and securities to deal with investors.　　The introduction of market maker system will completely solve the pricing, valuation and financing problems of High-tech enterprises. But the market is generally concerned about the new Sanbanxi to the Gem direct transition of the "Transfer Board" mechanism, message surface shows no major breakthroughs. This means that there is no special preferential treatment for unlisted companies listed in the Science park, and that all approval procedures must be completed in accordance with existing regulations. Just audit administrative authority by today's China certificateCoupon Industry Association registration for the record, the China Securities Regulatory Commission is not open to the Public Market audit department, but still for the registration system. At the same time expansion of the agent system also has the number of sponsors. According to a broker, the new Sanbanxi business of the preparation of securities companies have the National Union, founder, Wealth, Guangzhou, Dongxing, anxin, countries, people's livelihood and other eight securities firms.　　For the preparation of securities firms, the regulatory layer requires them to submit a written undertaking to the association prior to the formal acceptance, and to complete the development of the commissioned system of the stock quote business by December 31, 2010 and run it online.　　However, according to the industry, although the number of compliance brokers will increase, but the brokerage resources are still very scarce, the needs of enterprises may not be timely satisfied. Wu said, now more than 100 brokerages nationwide only 28 are eligible to do the new Sanbanxi business. And Beijing, Shanghai, Shenzhen and other local brokerages have been required to ensure that the first to help local enterprises to do restructuring work.　　Foshan "Early Start", the provincial Bureau of Supervision and administration of the special arrangements for Foshan 8 brokerages, but even so, it is still difficult to fully meet the needs of local enterprises.　　Gem "Incubator" after the new Sanbanxi approved the establishment, due to the number of listed companies, and trading systems and trading methods are not perfect, not active and other reasons, has not been too much attention.　　However, since the start of the gem, especially in 2009 in the new Sanbanxi listing of its software (002279.SZ), North Land Pharmaceutical (300016.SZ) Two companies successfully landed in the SME board and Gem Market, the value of the new Sanbanxi quickly by "smell sensitive" institutional investors found.　　At present, there are PE institutions in the fund-raising to make directional investment, specializing in new Sanbanxi and ready to land new Sanbanxi High-tech Enterprises. Data show that before the start of the gem, only the century, flying, purple Guanghua Yu, Beijing Times four new Sanbanxi listed companies to propose or complete targeted increase, the cumulative financing amount of only about 170 million yuan, the new institutional investors 19.　　But the gem opened less than a year ago, there have been 8 new Sanbanxi listed companies to initiate or complete targeted capital increase, a total of 33 institutional investors to participate. Board the GEM is the new Sanbanxi listed company's common dream.　　In fact, as the gem "Reservoir" of the new Sanbanxi, the first half of 2010 profit growth has far beyond the gem.　　China Securities Association statistics show that as of August 31, the new Sanbanxi 70 listed companies in 69 issued 2010 in the report, a total of 3.454 billion yuan revenue, net profit of 359 million yuan, the total net profit growth of 75% year-on-year, far higher than the gem reported year-on-year increase of 26%. According to regulations, the main financial threshold for companies applying for GEM listing is "continuous profits in the last two years, and the net profit of the last two years is not less than 10 million yuan, or the last year of profit, and the net profit of not less than 5 million yuan, the last year operating income of not less than 50 million yuan, the last two years, the growth rate of business income is not less than 30%. "Shenzhen Securities information company Data Center statistics show that up to 20June 30, 10, has 25 Zhongguancun new Sanbanxi company to meet the gem issue listing financial requirements.　　And to the end of the disclosure period, the latest statistics show that the gem in line with the financial indicators required by the new Sanbanxi company, has reached 37, accounting for more than half.　　According to the reporter understands, in the above company, already has 12 to issue or apply for listing to convene the Board of directors and shareholder meeting, Century rare, purple brilliance Yu, Star Hao Pharmacy, longitudinal technology, Haixin Kotkin, good news Feihong, East Earth Technology and double Jie electric and so on 8 company's application material, has been accepted by the SFC. For the new Sanbanxi Company's "Turn board" enthusiasm, Western securities new Sanbanxi Business Department general manager Cheng said not agree. In his view, the new Sanbanxi itself is an independent market, there is no "transfer plate" problem.　　The Division of the securities market should not be distributed by the financial index, but should be divided by the trading system, the motherboard is for the traditional enterprise service, the new Sanbanxi is for the Innovation Enterprise service, therefore "the Turn board" is not necessary. New "Investment Park" according to people close to the Securities Industry Association, the expansion of the new Sanbanxi will also open to individual investors.　　Before the new Sanbanxi trading unit for each hand 30,000 units, in order to facilitate the investment of retail investors, the new Sanbanxi expansion, the regulatory layer intends to deal with the smallest unit significantly reduced, may be reduced to 1000 shares per hand. In this respect, market personage analysis, once the new Sanbanxi market opens to individual investor, its development potential and investment opportunity will certainly attract a large number of individual investor. Because even if the enterprise can not be listed before the new Sanbanxi, in the new Sanbanxi market investment, it is equivalent to investment in the original stocks, relatively cheap prices.　　When these companies mature to the motherboard or gem listing, investors can enjoy the return on investment. Jiangfeng, a researcher at the Oriental Wealth Securities Research Institute, said the market was always new, especially since it was smaller than the gem plate, and that many companies were more unique, so a lot of investors were expected to pour in next.