High PE drive Huang Ming and Zhong Sheng photoelectric to return a shares

Liang Zhongrong 2008 Financial tsunami destroyed many domestic PV companies to the United States to the market dream, the good is that the start of the domestic market and the first recovery of the capital market, so stop in the Nasdaq or NYSE they, set off into a domestic a a-share wave. "The reason why we chose the country is because Huang Ming's products are mainly for domestic consumers, and they will get a higher price-earnings ratio at home, while helping to raise the company's domestic visibility."　　Huang Ming Solar Chairman Himin to our correspondent. Huang Ming was close to the U.S. capital market in 2008, but eventually stranded because of the financial tsunami.　　And the same stranded in the Sheng photoelectric, but now again sounded the Horn of the impact of the Nasdaq. "We want to go back home, but we have money from overseas investors and there is a legal risk," he said.　　"Zhong Sheng Photoelectric chairman Wang Xinghua said helpless, gratified that," we have a dedicated photovoltaic equipment subsidiary, plans in the near future will be listed in the domestic market. Tianlong Photoelectric (300029.SZ), Oak Shares (300032.SZ), Oriental Sunrise (300118.SZ), sunflower (300111.SZ) ...　　A series of lists, which are listed in the domestic PV industry in 2009-2010, have surpassed the number of Chinese companies that have landed in overseas capital markets--in 2005-2008, the European and American capital markets became the market shrine for domestic photovoltaic companies.　　Different paths "manager" and Chinaventure Investment Group recently launched the "2010 China's most investment potential of the new Enterprise 50" list shows that in the 43rd-sheng photoelectric. "Italy's Buesses company January 25 came and signed a 100MW component contract with us.　　Wang Xinghua told reporters that at present the amount of orders in the hand has basically finished the annual production line.　　100MW PV Module orders, the size of the 2011 total Italian PV market share of 5%, accounting for 2011 years in the Sheng photovoltaic products sales of 20%. Zhong Sheng Optoelectronics is China's PV industry 10 years of high-speed growth in miniature.　　2010 China's PV cell production again ranked first in the world, and the emergence of such as Wuxi Suntech, Crystal Australia, Changzhou Tianhe, such as the world's 10 major photovoltaic manufacturers.　　Wang Xinghua Frankly, limited to legal reasons, although in the Sheng Optoelectronics has been difficult to return to a-share listing, but the group has a photovoltaic equipment manufacturers, "mainly to do photovoltaic cell equipment and production of polycrystalline furnace, this year's sales estimated up to 800 million", its future capital operation model will be listed in the domestic a-share.　　Huang Ming to a A shares of the road is different.　　Back in 1996, Huang Ming Solar on the start of the employee stock Ownership plan, the implementation of the "Incentive stock Reserve System", for its listing made bedding; In 2007, Huang Ming Solar has completed the guidance period, the entire company to carry out joint-stock reform, and plans to list overseas, but by 2008 the listing plan was shelved. 2008 December, the Emperor Ming Sun officially accepted the Ding HuiAnd Goldman Sachs respectively for 9 years and 5 years of "recruitment", attracting 100 million U.S. dollars, a stake in the Wong Ming Solar group. "In disguise, it is not bliss."　　"Huang Ming, a high effective this sentence describes the company's capital Road soul-stirring, he said that the company is in a silent period, the estimated will be landing in the A-share market this year. Himin himself is not willing to talk about the listing, more focused on the prospects of photovoltaic, thermal and architectural integration. "Although photovoltaic power generation is more expensive than PV, it is only a technical problem, not a market problem, and the prospect of photovoltaic power generation will be much broader than that of PV," he said.　　"Himin said.　　However, Himin also said he hopes to hold 50% of the equity in the future, employees and distributors hold more than 10% of the equity, private placement of more than 20%, the rest of the other partners.　　The return drive of high PE starts with the IPO of Wuxi Suntech in 2005, as at the end of 2007, China already has 10 solar companies listed successfully overseas, when the total market value reached 25 billion U.S. dollars.　　In the current market situation, a senior executive of a photovoltaic company said a domestic a-share can be 50-100 times the PE value, "And this is only some do components of the enterprise, technical content is low", but in the Nasdaq, NYSE, more than the upstream of the polysilicon and battery enterprises, technology and investment threshold is higher, can reach 30 times times already high value. "Why did so many companies enter the Nasdaq, not the A-share market?"　　"Wang Xinghua analysis, in the domestic listing is very strict, the enterprise capital and turnover profit have clear requirements, and the most important enterprise development time threshold, and then launched the gem to solve this problem."　　Reporter noted that tianlong photoelectric, oak shares, Oriental Sunrise, sunflower and other enterprises are gem members, and the preparation of the flotation of the sea-run photovoltaic is selected to borrow Shell St Tianlong (600234.SH). "In addition to stricter restrictions on a-share, domestic and foreign listings, there are different orientations."　　"Wang Xinghua Frankly, more than 95% of China's PV products are exported overseas, in foreign listings can accumulate word-of-mouth and advertising, and in foreign countries are more stringent audit and supervision."　　The analysis of photovoltaic executives, foreign financial markets, including Morgan, Goldman Sachs and many foreign consortia have held a large number of Chinese photovoltaic listed companies, it is difficult to support new competitors, "Solarfun is an example, because it and Q-cell (2009 the world's second largest solar cell factory) conflict." Relatively speaking, in the domestic capital market, the concept of new energy is still emerging content, is also the scope of national support, in the domestic listing can obtain a higher premium valuation, but also to avoid foreign consortia interference.