Gem performance is ironic "garbage board"

Take the money and rest the food. Although the gem has created countless myths of wealth, but its performance is disappointing. Affixed with the "high growth" label of the gem to unprecedented high price earnings, but only a year, the gem hand over is a less than the SME board and motherboard profitability of the report card.　　As a result, the gem has been ridiculed by many investors as "garbage board." Open the board one year performance big face "two high six new" is the gem that opens the board when the pioneering board, namely grows high, the science and technology content is high, new economy, new service, newly agriculture, new energy, material, new business model. Public enterprises in the gem listed in their reports before the listing, are showing high gross profit margin, high return on equity, high operating income growth and so on.　　However, the profitability of gem listed after the listing of the "great reversal of the universe." From the published interim results report, the first half of the 105 companies with comparable data, net profit decline of 23, accounting for up to 21.9%.　　One of the most noteworthy is that the National Union of aquatic products in the market only a week later, then handed over a first half loss of 14.12 million yuan ugly exam results. The three-quarter situation is also not optimistic, from the current data, the gem company brings little surprises.　　15 companies to release the forecast of 7, a slight increase of 2, continued surplus 1, the loss of 1, the proportion of the company is only 73%.　　In contrast, Beijing's growth of the gem Company's performance is particularly serious, such as the star company Huayi Brothers, its first half of business receipts fell 22.29%, net profit is down 74.1%.　　Profitability is still three high run the gem started nearly a year, approved more than 100 companies listed, these companies to "superb, high P/E, High stock price" issued, but failed to give the matching performance, profitability and even far inferior to the board and boards.　　At present, the gem price-to-earnings ratio of 68 times times, and the same period of the Board, all a-shares, Shanghai and Shenzhen 300 of the price-to-earnings ratio of 45 times times, 19 times times, 15 times times respectively, gem valuation is the above plate 1.5 times times, 3.5 times times and 4.5 times times. The data from the report suggest that gem companies seem unable to support such a high premium.　　The first half of the gem to achieve net profit of 3.049 billion yuan, an increase of 24.42%, and the same time the average growth of the SME board reached 43.63%; Although upside down profitability and valuation has been criticized by the market, but the launch of GEM companies still adhere to the "three high."　　Yesterday, 4 gem listings, the issuance of a P/e ratio of more than 65 times times, the highest Isida, the issuance of multiples of 89.72 times times.　　Not all the gem is called Nasdaq from the beginning of the gem, there have been claims that the gem will become China's Nasdaq, but from the current view, whether the quality of the listed companies or the distribution of the way, all let people have doubts about this argument. One market personage pointed out that the current development of gem seems to be far away from the original positioning. and thethan the GEM launched this period of time in Shenzhen SME board listed nearly 200 companies, it is not difficult to find, whether in the size of the issue or industry characteristics and other aspects, can hardly make a distinction.　　Gem listed companies are mostly in the development of mature period, the traditional industry enterprises still occupy an important position, with light assets as the characteristics of the "new economy" enterprises are few. When it comes to the gem, we should look at the Nasdaq.　　"Qilu Securities analysts said that the 10-year opening of the Hong Kong gem has been completely reduced to the industry's" garbage board ", almost no one, and the current A-share gem development line seems likely to become the Hong Kong gem second. Commercial newspaper reporter Zhangling Yang