Partnership threshold lowered Tianjin mine missing blue cursor

After Fortune Venture, another limited partnership enterprise missed the gem.　　December 25, Beijing blue Cursor brand Management Consulting Co., Ltd. (hereinafter referred to as the Blue cursor) published "Initial public offering of shares and on the Gem IPO Prospectus (Report)" (hereinafter referred to as the "Report").　　"The Declaration" shows that a partnership between Tianjin and the establishment of the Investment Center (hereinafter referred to as Tianjin) is involved in the business.　　According to the "Declaration", June 2008, the blue cursor increased by 43.5 million yuan, to 9.6667 yuan/share to the four venture capitalists, including Tianjin, additional 4.5 million shares.　　In January 2009, Tianjin was unable to register with the Securities and clearing Center, so the blue cursors held 750,000 shares were transferred to the remaining 6 limited partners in the original price: Wang Yanqing, Wu Xuanqing, Guo Huilin, Xing, Chen Fangya, Hong Hongchang. 166th of the Securities Act stipulates that "an investor who applies to open an account must hold a legal document certifying Chinese citizenship or Chinese legal personality." Unless otherwise provided by the State. "At the same time, the securities registration and settlement management measures 19th stipulates:" Investors open a securities account should be submitted to the securities registration and clearing institutions to apply.　　"In fact, the venture capital company because of the nature of enterprise in the Gem mine has a precedent."　　Network accommodation Technology (300017.SZ) on the eve of the listing, Fortune Venture to invest in the limited partnership of the morning wealth, will hold a network of technology 4.209% 2.85 million shares transferred to the brothers company Tatsu morning Financial Wisdom.　　This, fortune and its Fortune financial letter also invested in the blue cursor, the total holding 5.75% of the equity, but the two companies are corporate shareholders.　　Although the Tianjin Fortune and the venture capital have to transfer the shareholding because of the nature of enterprise, but, the A-share market also has many "special cases".　　Western Mining (601168.SH) before the listing, there are a number of limited partnership investment, such as the fund, limited partnership Shanghai Lian Chuang Yong Xuan Venture capital Enterprise has held Goldwind (002202.SZ) 1.75 million shares, holding yuan yuan 1.924 million shares, but did not affect the company's smooth listing. "This should have special trading arrangements to circumvent legal requirements," he said.　　"Wangxiaopeng, a research manager at the investment group, said. However, November 20 this year, the SFC has made a decision to amend the Securities Registration and settlement management measures, and the implementation of December 21. Of these, the 19th adds a paragraph as the second paragraph: "Investors in the preceding paragraph include Chinese citizens, Chinese legal persons, Chinese partnerships and other investors under the laws, administrative regulations and regulations of the China Securities Regulatory Commission."　　"This means that it is possible for the partnership to open an account at the Securities Registration and clearing centre and that it does not violate the law." "VC Enterprises in the form of generally three kinds: company, partnership and trust system, in the United States, about 80% of VC companies for the partnership, while China has eight or nine of VC companies for the company system, the main reason may be that the law is not sound, can not achieve a smooth exit, the above Law modified, it opened up the partnership within the exit channels, is a big positive. "Wangxiaopeng thinks.