Gem three year review: most of the investment projects into the bubble did not reach the expected return

| Three Year review |

As the main carrier of raising funds for IPO, the first one is to finance the enterprise, and to lay the foundation for the future development of the enterprise. After a listed company has been financed by the gem, investors will ask what about the fundraising projects that have made the company raise money. Through the investigation of the reporter found that most of the gem company's fund-raising projects more or less out of the question, or to raise investment projects not up to http://www.aliyun.com/zixun/aggregation/32963.html "> expected earnings, or investment progress was shelved ......

| The Roots |

The first batch of "28 veterans" was once considered to be the most excellent "seed" of the gem, however, investors were disappointed that the best seeds, the most of the progress of their fund-raising is also a variety of problems. Before the IPO, these gem companies have painted a beautiful blueprint for the development of investors: after the production of investment projects, the company will be able to recover the return on investments in XX year, the return on investment to achieve ...

However, after three years of time, these companies are either to raise the investment project is not as described in advance, or even though the investment project to achieve production, but did not achieve the expected benefits, and even the original design of the fund-raising projects in the investment after the huge amount of money, thoroughly declared a failure.

such as the bio-antibody production technology platform project initially planned to raise funds 22 million yuan, but as of this year March, the company only achieved 7.4355 million yuan investment. Xinning Logistics (300013) also announced this year, two fund-raising investment projects "Shenzhen Xinning Modern Logistics Co., Ltd. bonded warehousing construction project" and "Jiangsu Xinning Supply Chain Management Co., Ltd. Supply Chain Management Services Project" has been postponed to December 31, 2012, and its original completion time should be December 31, 2011.

In fact, whether the investment progress is slow or the extension of the project, is far less than the completion of the project, but can not achieve the impact of expected income. November 2010, Chenzhou Mining has issued a notice, because the investment project has not reached the profit forecast, the company received the Hunan Bureau of the order to amend the book. People in the industry said that once the investment project reached production but the profit did not reach expectations, then said the initial IPO design of the project has problems, investors are likely to face the risk of skipping.

In this respect, the industry said that the cause of the venture board companies to throw the project for the reason is diverse and complex. The person said: "First of all, 2009 years since the start board, domestic and foreign economic environment in the recession cycle." Economic downturn, resulting in demand is not strong, so that the investment project to reach the postpartum, production can be effectively released. Second, the board of directors in the determination of the investment project is too hasty, irresponsible suspicion, so the formation of a ' bluff ' project. In addition, it is not ruled out to ensure that the meeting, or raise the issue price, and increase the rate of return on the investment project suspicion. ”

| Reporter Reviews |

By raising investment projects to achieve production and generate income, investors can clearly see the integrity of listed companies and operating conditions. As the listed companies that have problems in raising their investment projects, they are harmful and selfish. On the other hand, investors are disappointed, but also hurt their own use of capital markets to expand business opportunities.

In fact, the more explicit, the current investment project and the relationship between the IPO is quite the cart before the horse. The reality is that the proposed listed companies, brokerages struggling to raise the project on their brains, for the show, depicting a magnificent scene, to win the supervision of the IPO audit through, hurriedly listed to get funds. But they have forgotten the nature of the capital markets, that is, why the need for listing financing? That is because the enterprise needs to be bigger and stronger, there are good investment projects, and enterprises are in the development period of time is difficult to have enough funds to invest in new projects, so the use of capital markets, with the help of investors to achieve expanded reproduction.