Internet encounters the gem: Who is the future of China's Microsoft

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After the launch of China Gem, it can make up for the domestic it enterprises in the Nasdaq market encountered a variety of short boards. But this does not mean that the domestic it enterprise listing road unimpeded.

March 31, "Initial public offering of shares and the management of the gem listing interim measures" (hereinafter referred to as interim measures), so that most Chinese internet companies spirits. And do not say that the launch of the gem behind, which means how many companies began to dream of becoming the Chinese Internet "Microsoft", the network instant out more than 300 to apply for the gem list of enterprises, enough to prove that internet companies on the gem listing enthusiasm.

Recently, Beijing Hope Consulting Co., Ltd. President Luebbe in the "Daily economic news" interview predicted that China Gem listed, can make up for the Chinese Internet companies in the Nasdaq when the market encounter national conditions, economic, cultural, language short board. But that does not mean that the way China's Internet companies are listed is already very magnanimous.

"Gem more conducive to local enterprises"

"Chinese companies will receive better market effects when they are listed domestically." While listing on the Nasdaq can be more capital, there is a risk that overseas investors will not recognise. "A small and medium-sized network game company Mister Liu Ting revealed that most Chinese online game companies are interested in the gem listing."

The release of the interim measures also allows the country's largest domain name and web hosting service provider founder Zhang to begin to measure the best choice for the company's listing. Zhang said that although "more than 300 companies to apply to the Gem list" in the name of the million network, but the million network is still analyzing which market is more suitable for their own.

"There is a difference in the group characteristics of each market, and Nasdaq investors are more knowledgeable about technology stocks, willing to take higher risks, but after all, Nasdaq in the United States, to understand the Chinese Internet is still more trouble." "Lubberg said. In fact, the overseas listing of Chinese Internet enterprises is not new, but in the actual operation in recent years, it is found that the overseas gem is lagging behind the news and strict financial system causes enterprises to pay huge financial costs and other drawbacks.

"Chinese companies choosing to list on China's gem will make up for Nasdaq's many short boards on China's national conditions, economy, culture and language," he said. "Lubberg said. And for a growing enterprise, the risk index will fall. Xingdong, chairman of the Internet lab, said the overseas gem had spawned an international giant such as Microsoft and Hewlett-Packard, and it now provides such a mechanism in China.

The embarrassment of a virtual world listing

But the launch of the gem does not mean that China's internet companies on the way to the market has been very magnanimous.

"Interim measures for the management of Gem Listing" stipulates that enterprises landing on the gem in the last two years to make continuous profits, the last two years, the cumulative net profit of not less than 10 million yuan, and sustained growth, or the last year profit, and net profit of not less than 5 million yuan, the last year operating income of not less than 50 million yuan, The growth rate of operating income in the last two years is no less than 30%.

Analysys International Network game analyst Xufeng said, for this threshold, the current domestic at least 20~30 network game company to meet the profit conditions of landing gem. "Although the scale of the gem is more relaxed than expected, but not as loose as the US Nasdaq, NASDAQ has no need to make a profit on listed companies." ”

Lubberg said that the Internet Enterprise development model and the traditional industry model is different, seize the initiative is an important feature of enterprise development, in possession of technology, business model and team-complete situation, it needs sufficient funds to support enterprises to seize the opportunity, when the enterprise is often not profitable, So the gem for this type of enterprise financing demand is a threshold.

China Venture capital Portal Chinaventure analyst Weifeng, said, from the gem listing interim measures, gem does not pay attention to an IT company's profit model diversification, but stressed that the Internet technology and real economic integration to close, and can stimulate employment and real economy.

"In a sense, the Internet company's user volume and traffic are relatively virtual indicators, it is difficult to convert to be able to evaluate the data, and the gem listed after the trend of e-commerce and community-type Internet companies." "Weifeng analysis, whether it is a company selling domain names, or network game companies, because the product value is mainly based on the concept of innovation, although there is the opportunity to obtain VC and PE favor, but whether the gem listing also need to see the government's attitude."

It is reported that a large-scale E-commerce site needs customer service staff roughly in thousand or more, but a network game company's research and development staff is only 300 people up and down.

Luebbe is worried because China's motherboard market is not sound enough, share prices are not around value fluctuations, and this will likely affect the development of the gem. In this respect, Luebbe advised the management department to give the gem a different policy with the motherboard market, the two securities market isolation, which is more conducive to the development of the gem.

After the Gem method was announced, a list of the first companies to sign up for the gem quickly circulated in the public. "Daily economic news" reporter screening found, remove some do network equipment research and manufacturing, network technology development of the bottom of the derivative industry companies, the real reliance on China's 300 million internet users to develop a profit model of the enterprise has 5, they are tianya, play games, snail electronics, million network and new network interconnection.

Will these 5 companies be listed in China's entrepreneurial edition?

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