Gem was "ring money Board" criticized Super raise too much

"The most painful thing in life, is that people die, the money is not spent."　　"The sketch" is not bad money in the classic lines "classic" to describe the gem before and after the board of the company's different state of mind. For High-tech Enterprises to open up financing channels, so that they obtain follow-up development of funds, this is the original intention of the gem.　　However, in the high price issue caused by the huge super raise phenomenon, gem enterprises have become rich overnight, how to spend money instead became their current thorny problem.　　Super raise into the normal circle more than 55 billion gem has become the cradle of some companies overnight wealth, there are statistics show that the current listing of the 123 gem companies have actually raised more than 84.132 billion yuan, on average, each company raising capital of 684 million yuan. High-priced offerings are the norm for gem companies, which means companies can take more money from the market.　　It is understood that 123 gem started to raise capital scale originally only 28.759 billion yuan, but the actual super raised 55.373 billion yuan, is recruitment funds nearly twice times. In fact, the gem has been "overweight" since the day it was born, the first listed 28 companies all for super weight "big Baby", the total amount of financing amounted to 15.5 billion yuan; Subsequently, the listed "brothers" are all the worse, three or four shares of the financing scale can be more than 5 billion yuan, such as the April 30 listing of national technology, digital governance, such as 4 stocks, total financing of 5.93 billion yuan.　　In addition, the green water, Oak shares, South All power supply, such as the initial financing amount of more than 2 billion yuan.　　And compared to a shares of other sectors, the gem issued a price-earnings ratio has been high, 123 gem shares of the average issue of up to 65 times times, far more than 51 times of the Board of new stocks and 38 times times the motherboard new shares, the issue of more than 60 times multiples of more than 70 shares, accounting for more than 57%, the share price has been significantly higher than their own value. Super raise money into unbearable weight from everywhere change all of a sudden transition to rich nowhere to spend, this gap let a lot of gem company is really a bit not adapt. Statistics show that the current gem ratio of more than one share in more than 100, accounting for more than 85%.　　Among them, national technology, green water, oak shares, Chuan technology, etc. than expected to take more than 1.5 billion yuan of funds. For easy to get the super raise money, many gem companies instead into confusion, which is the market for its criticism of one of the reasons. An industry researcher pointed out: "They do not need so much money, after the listing of a sudden more than hundreds of millions of yuan or even a billion of yuan, it is difficult to think of the appropriate investment plan." "It turns out that the extra money is used to repay bank debt, buy homes, buy cars, and some companies simply put interest rates on their bank accounts."　　such as the Po Tak shares, the super raise funds deposited in the bank, its interest income accounted for the first half of the year net profit of 34%. According to the latest data, only 11 billion of the more than 55 billion yuan of the 123 gem companies announced the use plan, accounting for only 20%, most of which is "temporary replenishment of the flowMove funds. "　　In contrast, Beijing's gem companies to raise the amount of money are ranked in the forefront of the plate, such as green water, digital video, Wambonda and so on. Who's the one behind the money? Shettay, deputy dean of the Financial College of the Capital University of Economics and Trade, believes that there are many reasons for the IPO companies to raise funds generally. First, the listed companies themselves lack the right financing concept, its performance is that some companies often only have a strong desire to pursue a high issue price-earnings ratio and maximize the scale of the internal impulse, and lack for investors to create the biggest return business philosophy. Second, the current provisions of the unreasonable causes of the listed companies to raise funds of the motives. Due to the so-called high growth of the promotion, gem IPO has generally won a higher price-earnings ratio and the issue price. Third, the issue of audit checks and follow-up supervision is LAX.　　If the audit link in the issue of strict control, gem companies to raise funds of the phenomenon may not be so common. Specifically, the absence of the sponsor organization management is the GEM enterprises to pursue high price, sitting on the external causes of huge sums of money, and as the key people within the enterprise, entrepreneurial team and business executives on the wealth effect of the attitude, is the internal cause of the super raise, "the future of listed companies potential risk of market retreat and operating pressure, It is better to have more one-time financing at the time of issue, and to run new projects after the wealth has been cashed. This does not rule out the idea of some executives at the gem. Commercial newspaper journalist Wang Dan