National Credit Securities Direct investment three gem company book returns more than 4 times times

Gem second batch of 8 companies of the high price-earnings ratio, the wealth effect is interpreted incisively and vividly. Of particular concern is that the state securities as a sponsor of 3 companies, while there are direct investment in equity, and Jinlong electromechanical and YANGPU health care issued more than multiples.　　Even if a lot of shares are transferred to the Social Security Fund, the investment return of credit securities is considerable. The prospectus shows that Jinlong electromechanical, YANGPU Medical, steel research Gourna sponsor per capita securities, the latter of the company's direct investment companies have shares in Hong Sheng. In April this year, the state letter Hong Sheng to 18.76 million yuan to subscribe to the purchase of Gold Dragon electromechanical 7 million shares, accounting for the first 6.54% stake in the issue, the same month, the state of Hong Sheng to 2.8 yuan per share of the price, spending 10.64 million yuan to participate in Yang Pu medical increase, subscribe 3.8 million shares, accounting for　　In May this year, the national letter to Hong Sheng again shot to 14 million yuan to subscribe to 3.5 million steel research Gourna new shares, accounting for the first 3.99% stake.　　Yesterday, Jinlong electromechanical, YANGPU Medical and Steel research Gourna's offering price, respectively, 19.00 yuan/share, 25.00 yuan/Shares and 19.53 yuan/share, the corresponding P/E ratio as high as 126.67 times times, 108.7 times times and 75.12 times times, the shareholder value with the rise. According to the state-owned shares introduced in June this year to hold the Social Security Fund New deal, the state believes that the holding of Hong Sheng's stake has "shrunk".　　According to the reporter calculates, the national letter Hongsheng needs to transfer the social Security the stock market value to be as high as 77.38 million yuan, after transfers the remaining stock market value total amounted to 219 million yuan, even if does not consider transfers the stock the cost recovery, its investment return also will surpass 4 times times. It is worth noting that, as a result of the increased investment in the Securities and Futures Commission to accept the IPO application within 6 months, the state of Hong Sheng commitment to the business registration changes within 36 months from the transfer of the holding shares.