PE for gem "Crazy" jiuding into 20 times times ROI model

The introduction of the SME board and the Gem activated a group of local investment banks, VC and PE number than 10 years ago, 50-100 times the increase.　　How to "invest in the whole nation"?　　In an office at the Jinrongjie building in Xicheng District, Beijing, partner Ma Xianming of the Jiuding Investment Management Company (hereinafter "jiuding investment") is preparing a plan to visit Hubei again. For Ma Xianming, the days of eating breakfast in Beijing and drinking afternoon tea in Hubei are commonplace.　　In the year of joining Jiuding Investment, in addition to every weekend must return to Beijing to participate in partner meetings, the rest of the time is in the country to visit the project. "I've been on a business trip 100 times a year," he said.　　In an interview with the first financial daily, Ma Xianming told reporters. In jiuding investment, so "desperately" is not only Ma Xianming one person. Another partner, Caile, has achieved 239 flights over the past year from two airline platinum cards. "Other partners are like us," Caile laughs, "the time spent with the family is more than the time spent with the stewardess."　　"This hectic situation is not just a jiuding investment," he said.　　This is a microcosm of this year's venture industry. At present, China has more than 1200 funds VC and PE, 50-100 times more than 10 years ago.　　With the introduction of SME board and Gem, China's capital market gradually improved, activating a group of local investment banks, so that the rapid development of the industry.　　20 times times ROI Model Jiuding investment is considered to be a local venture in the world of a dark horse, previously because of successful investment in Jinya technology and Jiffeng agricultural machinery, the two gem enterprise and reputation of the big noise. Jinya Technology Prospectus disclosed that jiuding investment in 2007 to 536,700 Yuan shares in Jinya Technology, holding 500,000 shares.　　According to yesterday's closing price, jiuding Investment held Jinya technology book value has reached 8.94 million yuan, a premium of more than 15 times times. Jiuding Investment in Jiffeng agricultural machinery is more regarded as a myth. According to the Jiffeng Agricultural machinery Prospectus, March 29, 2009, April 18, jiuding investment in a total of 4.8 million shares, a total investment of 20.16 million yuan. May 2009, Jiffeng Agricultural Machinery Capital Provident Fund to increase the share capital, each 10 shares to increase 3 shares, jiuding Investment's shareholding quantity also changes correspondingly to 6.24 million shares. At the end of 2009, Jiffeng Agricultural Machinery 10 to 10 faction 2, jiuding investment in the number of shares increased to 12.48 million shares.　　According to yesterday's closing price, jiuding Investment held Jiffeng agricultural machinery book value of about 431.808 million yuan, investment returns more than 20 times times. "Jiffeng agricultural machinery market after we helped it do 7 mergers and acquisitions, has been from a local enterprise into the industry leading enterprises."　　"Ma Xianming said. GEM Open board this year, but also jiuding investment in the rapid development of the year, Jiuding Investment partners have increased from the initial 6 to 12 people. The total amount of RMB funds managed amounted to 4 billion RMB. Recently, also announced the completion of the first dollar fund-jiuding China Growth Fund (jiuding Chinese substituting FUND,L.P.).　　The total size of the fund is 120 million dollars. 2010 is the year of the gem frenzy.　　In the gem "Carnival" and "turbulence" behind the "activation" of the venture capital institutions and the vast number of private capital markets. Not only jiuding investment, fortune, Deep Ventures, Sequoia Capital renminbi funds, and even those springing up new funds, have invariably accelerated the pace of renminbi investment.　　Many investment banks say this is the easiest year for renminbi funds to be raised, and that the new fund is the most established and fiercely competitive year. According to Chinaventure (investment Group), in the first nine months of this year, 30% of the companies that completed IPOs in the A-share market behind them were renminbi funds based on venture capital funds (VC) and private equity investment funds (PE). The average book return, which has been brought about by the listing exit, has reached 12.16 times times.　　The gem is almost a printing machine. "The main reason is the gem." Weifeng, director of the research group, said in an interview with our correspondent that "on the one hand, China's economy continues to be good; on the other hand, many people have money in search of ways to appreciate it." "Under the impetus of the investment heat, the rising tide is the value of the enterprise." "The valuations of a number of businesses have quadrupled several times over the years. Industry insiders say.　　In Zhejiang Wenzhou, Hubei, Hunan and other private capital active areas, each scale enterprises are more than 20 "VCs" scramble. Hubei's absolutely taste duck neck is such a wind to compete for the typical. And a long time duck, Zhouhe similar, absolutely taste duck neck is also a management snack stalls.　　However, such a small business, has been exposed a few years ago by 40 of the wind investment institutions sought after, of which there are many well-known local VC institutions-fortune. Ma Xianming told reporters that Jiuding investment in the selection of projects on the preference of local scale, model easy to copy enterprises, through the operation of capital, so that enterprises grow rapidly.　　"Good business, can copy good business, can be listed good business" is the jiuding investment on the value of enterprises to judge the three standards. The number of enterprises invested by jiuding investment and the amount of investment are exponentially increasing in geometry. "Agricultural enterprises only, we have invested five or six this year, including pesticides, agricultural products, aquaculture, feed industry, seed industry." "Ma Xianming to this reporter disclosed," The recent investment of a company is to feed the sturgeon enterprise-days Gorge sturgeon industry. Details have not yet been finalized, but the investment will be more than 100 million yuan, is the agricultural projects this year the largest amount of investment. "In the pharmaceutical industry, jiuding investment in a short period of 9, the total investment of more than 200 million yuan." [Page] only 10% PE can long-term undefeated Wenzhou SME Association president Zhou said, with huge capital of Wenzhou people no longer fry room, fry coal, fry oil, their next goal is our country's venture investment field.　　This may also be an important source of huge investment money. "Wenzhou CapitalAfter the shock of irrational investment in the market, the SMEs in Wenzhou are gradually changing their investment ideas. In the gem for enterprises and investment institutions have benefited behind, Wenzhou entrepreneurs are also optimistic about the gem, they invited a professional investment team to invest. At present, Wenzhou has 300 companies ready to go to gem listing.　　"Zhou said. For the current "national investment" of the grand occasion, Hong Yi Investment President Hony very happy to see private capital into the private sector, but at the same time, he also expressed his concern, "although the current Chinese people are PE tendency, but for China, only 10% of PE can be a long-term invincible." "There is no doubt that the gem has the highest price-to-earnings ratios in the world and much higher than any rational market." "At the end of the 2010 (third annual) annual meeting of entrepreneurs and the opening ceremony of the Global Entrepreneurship Week," Ecapital Capital Limited CEO ran blushes. He said that although China's current gem multiples 50~80 times, and even 80~100 times, but previously he contacted the three companies are also selected for the SME board, rather than the gem.　　He thinks companies would rather have a stable environment. "A new market is itself a high-growth, high-risk market," he said. "Ran stressed," when driving, if the front of a novice on the road, you'd better stay away from him. ”