Gem How to go the next step: face 32.7 billion lifting market value

This reporter Deng last October 30 sounded "treasure Hammer" gem has been 1 years of age.　　Shenzhen said that the next two or three years for the gem is crucial: on the one hand, the results of the use of fund-raising will be tested, on the other hand, the gem can fully guide the development potential of enterprises listed also face the test. The total market capitalisation doubled at the same time, the gem of the "three high" issue widely criticized from the opening of the day a year ago, the 28 listed companies of 139.97 billion yuan total market value, to now 134 listed companies in the total market value of nearly 600 billion yuan, gem is growing rapidly. The report of the Shenzhen Venture Capital Association released October 26 shows that　　The average net interest rate of gem listed company is higher than that of other listed companies 12.23%, average sales income growth rate is higher than other listed companies 20.57%, average assets and liabilities ratio is lower than other listed companies 28.54%, average flow rate is higher than other listed companies 4.05%, average total assets turnover is higher than other listed companies 0.06%. But the gem also did not get rid of the growth of the trouble: Gem Company issued an average of 65.77 times times earnings, the highest issue of 127 times times, the average issue price of 32.72 yuan, far higher than the SME board and motherboard companies. The high price-earnings ratio lacks the high growth support, the high price is brought by the listed companies actually raise funds far beyond expectations. The "three high" issues of "high P/E, high price, and superb fund-raising" by the Gem are criticized by the market.　　November 1 is the gem of the year's birthday, but also the first batch of 28 listed companies to ban the restrictions on the day, the gem will accept the lifting of the market value of 32.7 billion yuan test. The lifting of the tide will not be a big impact on the stock, perfect retirement System is the basic Shenzhen general manager Liping frankly: "The current flood of money is worrying, the introduction of strategic emerging industry support policy may be used for market speculation, increase the volatility of small stocks, for the gem market buried hidden dangers." She borrowed the words of the noisy 90 's: "What is the seed of destruction?"　　The first is in the midst of prosperity ", expressing concern about the" irrational exuberance "of the market. The market is more worried about the lifting of the November 1 tide. Public information shows that the resignation of the 51 board executives, up to 5 of the resignation of senior executives can be released on the day of the lifting of the ban on the first day, accounting for all of the company's top executives 0.27%. "The current growth of the gem is unlikely to follow the lifting of the tide of drastic changes." Structural adjustment and policy support for new industries to maintain high growth expectations, in a series of favorable policy stimulation, the focus of the market will return to the SME board and the gem. But the ' mishap ' of gem is always a big hidden danger.　　"Guangzhou Securities analyst Xu Chunchang told reporters. Shenzhen Chen Dongzheng, chairman of the Gem, said in the inaugural meeting of the Expert Advisory Committee: The success of the SME board does not mean that the gem is necessarily successful. Compared with the motherboard and SME board, the Gem Enterprise objectively has a relatively high risk characteristics. "In the various supporting systems of the gem, the delisting system is the basic institutional arrangement to ensure the efficient and orderly operation of the market and achieve healthy and sustainable development", he expressed his concern directly. The Shenzhen Stock Exchange puts forward that: the development of the gem directly, and the establishment and perfection of the rapid delisting system will form a good interaction with the deepening reform of the distribution system, which is conducive to the realization of a more scientific and reasonable valuation and pricing.