Nasdaq Envy GEM

"If you compare Nasdaq with the gem, I'm going to jump from here," said Zhang Yang Yinghua.　　"In the Nasdaq Beijing Representative office on the 26 floor of the Beijing International Trade Center, when reporters pressed the Nasdaq Asia-Pacific chief executive Eric D. Landheer (hereinafter called Lamboven), he replied. Beijing time August 5 9 o'clock in the evening, the Nasdaq opening bell sounded as usual, but this time the bells meaningful.　　Baidu is the biggest Chinese company to be listed on the Nasdaq, as it was a long-distance strike by Baidu CEO Robin Li in Beijing, China. August 5, in the Nasdaq Beijing office, NASDAQ vice President Meyer S.frucher told reporters that as of August 1, 25 Chinese companies have landed on Nasdaq, of which 9 companies for the initial public offerings, 12 companies for the OTCBB board, Another 4 companies are turning boards to Nasdaq.　　Compared with the 33 companies listed last year on Nasdaq, the number of listed companies has increased by nearly 30%. "This year's Nasdaq-listed Chinese companies are mainly focused on three areas of education, technology and consumption."　　"Lamboven said.　　So far, the Nasdaq-listed Chinese companies have reached 148, including 125 from mainland China, 17 from Hong Kong, 5 from Taiwan and 1 from Macau.　　In fact, there is a hidden concern behind the beautiful scenery of the Nasdaq-Chinese Business Alliance. According to a report by our correspondent, the research center of the Qing branch, although the first seven months of this year a total of 9 Chinese companies in the Nasdaq IPO, has been more than 8 companies last year's IPO record. But China's 9 IPOs in the first half of the Nasdaq were financed by only $329 million trillion, compared with $1.479 billion last year for 8 IPOs.　　Chinese companies ' financing of the Nasdaq in the first half plunged by nearly 60% last year, a reflection.　　"Before the launch of the Gem last September, many of the best Chinese SMEs could only hope to raise capital in overseas markets because of lack of domestic financing channels," a brokerage banker said. But the launch of the gem has brought dawn to Chinese SMEs.　　Shenzhen Gem opened less than 10 months, gem listed companies increased to 100, the total amount of financing exceeded 70 billion yuan mark. More noteworthy is the gem's average issuance of a P/e ratio of 78.07 times times in the first quarter of 2010, although the second-quarter earnings ratio has returned to 63.65 times times, averaging 70.86 times times.　　At the same time, Chinese companies ' IPO multiples in overseas markets have been hovering low. "Overseas capital markets have been relatively depressed relative to China as a result of the financial crisis, coupled with a lack of understanding of Chinese companies by overseas investors, the average price-earnings ratio of Chinese companies in overseas markets in the first half of the year is between 8 and 10, as well as listing financing," said a longtime investor The difference of P/E in domestic and abroadThe number of times, how companies will choose is obvious. "In response, Lamboven responded," China's gem and Nasdaq do not form a competitive relationship, China's launch of the gem will not affect the Nasdaq in China's business, in the first half of this year, 25 Chinese companies have opted to list on the Nasdaq, more than last year's same level. "Because there are significant differences in the listing conditions of the two systems. For example, our NASDAQ Global Select Market, is currently the highest standard market for global listing, and China GEM listing standards do not exist comparable. If you must compare China's gem with Nasdaq, it may be closest to our low-end market-the Nasdaq Capital market. But I personally think that China's gem is closer to the American OTCBB.　　"Lamboven said.　　But it is worth noting that Nasdaq and domestic cooperation is becoming more and more close. "Given the commonality of financing channels for SMEs, we signed a memorandum of understanding with the Shenzhen stock last year in the hope of providing our experience and technology for the Shenzhen gem," he said. "Lamboven said.