Rely on investment gem to get dozens of times times the profits of the era is away from PE are more and more distant

Abstract: Rely on investment gem to get dozens of times times the windfall profits are increasingly far away from PE. From the statistics of the Qing branch, the gem two years, VC/PE average return on investment of 12 times times, the highest fifty or sixty times times, but the latest statistics show that the current gem

Rely on investment gem to get dozens of times times the profits of the era is away from PE more and more distant. Statistics from the Qing branch show that the gem two years, the VC/PE average return on investment rate of 12 times times, the highest is fifty or sixty times times, but the latest statistics show that the average return on the gem has dropped to 5 times times. The high price of shares and the decline in returns have become the reality of VC/PE investment in the gem.

Statistics show that, compared with other domestic capital markets, VC/PE-backed listed enterprises in the total number of listed companies are significantly higher, reaching 54.6%.

The data also showed that of the 63 companies listed on the Shanghai Stock Exchange in the same period, 29 had VC/PE support, accounting for 46%. And in the SME board listed 320 companies, of which 131 have VC/PE support, accounting for 40.9%.

For the venture to favor the cause of the gem, the Qing branch IPO analyst Zhanglan said: "From the Enterprise IPO threshold, the gem is lower than the motherboard and small and medium-sized plate of the threshold." Therefore, gem enterprises are relatively small scale, more than mature enterprises need outside funding support, more need to introduce VC/PE such strategic investors. This is the most common reason VC/PE Capital favors the Gem enterprise. ”

However, with the VC/PE competition for the project, especially the IPO (IPO Preparatory) project, the level of market share prices gradually high, resulting in the first-price ratio and share prices hang upside down, resulting in a certain degree of the current VC/PE fund-raising slowdown.

Compared to the beginning of the listing has been significantly reduced, but according to flush IFind statistics, the gem is still 48 times times the average P/E.

From the analysis of VC/PE investment return, 269 companies have 323 investment equity transactions, the amount of investment amounted to 5.908 billion yuan, the average return on investment is 12.34 times times. On the hottest, the rate of return is up to 73.2 times times.

"The VC/PE market next year will be tougher than this year. Chen Yu, CEO of Chinaventure Group, believes that the VC/PE market will achieve a return to value in the future, including the value of the Enterprise, VC/PE itself and the value of the investment.

Xu Xiaolin, general manager of Jian Yin International Wealth Company, pointed out that this year may become a watershed in PE industry, representing the end of the era of PE profiteering.

"A year ago the market was still more optimistic, but today our two-tier market is 14 times times overvalued, and it's been found to be very low." In Xu Xiaolin's view, the PE industry from this year's profiteering era ended.