Second half of the board lifted the market value of 40 billion venture capital shareholders worry no answer

"We are worried that after the lifting of the stock market, no one to take the plate," recently, a company holding a restricted stock of gem shares to the Southern Metropolis newspaper reporter. His worries are not groundless. Data show that June-December this year, the cumulative lifting of the market value will reach 46.3 billion, accounting for the current market value of 83.5 billion of 55%. 　　In particular, it is worth mentioning that, November, the gem will usher in the peak of the lifting of the original stocks. Data show that the gem companies in the 80% of the figure, according to the Convention, the venture capital may choose rational exit. Analysis of brokers and private equity analysts from now on, there are already signs that the gem is facing the inflection point, the lifting pressure will make the gem in September, October, face a slump, if according to 2010 performance, there will be 30%-40% of the drop space, but at the same time, the gem will produce differentiation,　　Some good companies will emerge. Gem high valuation triggered venture investment worries two listed companies announced the announcement, Tianlong Group, Hai Lanxin on June 28 listed in circulation network under the placing of shares. Among them, Tianlong Group Limited shares can be listed in the circulation volume of 3.4 million shares, Hai Lan Xin Limited shares can be listed in circulation of 2.77 million shares.　　From the recent two days of stock prices, Tianlong group has not changed significantly, Hai Lanxin yesterday's decline of 3.18%, has been reflected. As opposed to the lifting of the original stocks, which began in November, the lifting of the ban seems to be nothing, but according to the Securities brokerage agency analysis, the lifting of the tide has begun to reflect in advance in the gem of the company's shares.　　Analysts judged that the lifting of the ban to accelerate the advent of the business board inflection point. Huatai Joint Securities analyst Liu Xining analysis, 2010 6-December Cumulative Lifting market value will reach 46.3 billion, accounting for the current circulation of 83.5 billion of the market value of 55%. Consider the gem overvalued valuation, the determination of the gem to reduce the willingness to lower than the small, so the lowest expected reduction ratio of 41% to 19 billion, accounting for the current market value of 23%. Using historical data to calculate the impact of the unit turnover rate of the gem stock on the price, consider reducing the proportion of the current shares (regardless of the original circulation of the shares of the former sales), calculated to reduce the price impact.　　The use of circulation market capitalisation weighting, the lifting of the total reduction of the gem plate will lead to 42% of the price impact plate.　　Statistics show that there are currently listed in the Gem companies, 80% of companies are stationed behind the creation of institutions, due to the poor performance of some companies, some shareholders (especially the VC) will choose to accept.　　Zhang Hongbin Analysis of the Datong Securities analyst said that from the point of view of venture capital, the demand for return more rational, not like the two-tier market for such a high valuation, their funds can do more after the withdrawal of projects. Beijing Dragon win Rich Investment Co., Ltd. General manager, investment director Dong Tiyi analysis that, according to the Convention, the lifting unit will take a large trading platform wholesale, of course, if the price is low enough, certainly there will be some long-term tracking out of the market. "There will be appropriate liquidity in the coexistence of wholesale and retail." "China Tiger Fund investment Director Liang analysis,In fact, some companies on the gem are undergoing subtle changes, some of the larger shareholders have begun to consider the problem, from the two-tier market investors in the perspective of the analysis, they can not think of such pressure, and will not blindly go to the plate. September-October Gem inflection point approaching "the lifting of the tide will be at the end of October, the beginning of November, the market has a relatively large impact, of course, may be reflected in advance." Zhang Hongbin said that from now on, there have been signs that the gem is facing the inflection point, mainly in three: first, from the main body to participate in the rise, the participation of less, the hot money involved more. "Hot money is very sensitive to trends and they cannot be wary of lifting the ban in advance." "Zhang Hongbin said, second, the recent volume can not be enough, from the technical point of view, the head has been formed, upward pressure is very large, often hit the high point on the return of no work; third, the value of the pressure is very large, this set of quotes, is often the QI and the fall, short-term differentiation will not be "But in my own judgment, the valuation moved to a certain extent will be differentiated, if according to 2010 performance, 40 times times more reasonable, so there will be 30%-40% of the Drop-down space." Dong Tiyi, general manager and investment director of Beijing Dragon WINS Investment Co., Ltd., has judged that, starting in July, the share price will gradually reflect, to 9, October will be more intense, that is, the previous high expectations will gradually fall back, and blue chips before too pessimistic expectations will pull upwards. "The valuation of the gem may form a dynamic equilibrium, so that some companies that are determined by the performance will have an opportunity to invest, because they are reflected in advance." "Companies that can keep track of growth" of course, the reaction will be more intense in the weeks before the lifting. Liang said that from the current point of view, some gem companies are not so high growth. "It's impossible to ask many companies to keep growing at 60%-70% a year."　　"Liang estimates, then, the gem will have a slump, this process will kill a part of the stock, will also provide some good intervention opportunities, good companies will emerge." "On the operation, we do not recommend investors to focus on the gem recently, unless it is a good company that you have been tracking for a long time." On the one hand, the overall performance is not good, on the other hand, medicine strong shares of the increase in the market for the early not fall in the high valuation plate of the lower expectations.　　"Zhang Hongbin said. "At present, from the investment point of view, to light the industry, heavy stocks, not because of what a new industry, such as mobile phone payments, began to follow the trend, to continue to track some of the more established good companies, looking for investment opportunities." "Liang said. "We are worried that after the lifting of the stock market, no one to take the plate," recently, a company holding a restricted stock of gem shares to the Southern Metropolis newspaper reporter. His worries are not groundless. Data show that June-December this year, the cumulative lifting of the market value will reach 46.3 billion, accounting for the current market value of 83.5 billion of 55%.　　In particular, it is worth mentioning that, November, the gem will usher in the peak of the lifting of the original stocks. Data show that entrepreneurshipBoard companies in the 80% has a shadow, in accordance with the Convention, venture investment institutions may choose rational exit. Analysis of brokers and private equity analysts from now on, there are already signs that the gem is facing the inflection point, the lifting pressure will make the gem in September, October, face a slump, if according to 2010 performance, there will be 30%-40% of the drop space, but at the same time, the gem will produce differentiation, Some good companies will emerge. [Page] High valuation of the gem caused venture to worry about the gem two listed companies announced the announcement, Tianlong Group, Hai Lanxin on June 28 listed in the circulation network under the placing of shares. Among them, Tianlong Group Limited shares can be listed in the circulation volume of 3.4 million shares, Hai Lan Xin Limited shares can be listed in circulation of 2.77 million shares.　　From the recent two days of stock prices, Tianlong group has not changed significantly, Hai Lanxin yesterday's decline of 3.18%, has been reflected. As opposed to the lifting of the original stocks, which began in November, the lifting of the ban seems to be nothing, but according to the Securities brokerage agency analysis, the lifting of the tide has begun to reflect in advance in the gem of the company's shares.　　Analysts judged that the lifting of the ban to accelerate the advent of the business board inflection point. Huatai Joint Securities analyst Liu Xining analysis, 2010 6-December Cumulative Lifting market value will reach 46.3 billion, accounting for the current circulation of 83.5 billion of the market value of 55%. Consider the gem overvalued valuation, the determination of the gem to reduce the willingness to lower than the small, so the lowest expected reduction ratio of 41% to 19 billion, accounting for the current market value of 23%. Using historical data to calculate the impact of the unit turnover rate of the gem stock on the price, consider reducing the proportion of the current shares (regardless of the original circulation of the shares of the former sales), calculated to reduce the price impact.　　The use of circulation market capitalisation weighting, the lifting of the total reduction of the gem plate will lead to 42% of the price impact plate.　　Statistics show that there are currently listed in the Gem companies, 80% of companies are stationed behind the creation of institutions, due to the poor performance of some companies, some shareholders (especially the VC) will choose to accept.　　Zhang Hongbin Analysis of the Datong Securities analyst said that from the point of view of venture capital, the demand for return more rational, not like the two-tier market for such a high valuation, their funds can do more after the withdrawal of projects. Beijing Dragon win Rich Investment Co., Ltd. General manager, investment director Dong Tiyi analysis that, according to the Convention, the lifting unit will take a large trading platform wholesale, of course, if the price is low enough, certainly there will be some long-term tracking out of the market. "There will be appropriate liquidity in the coexistence of wholesale and retail."　　"China Tiger Fund investment Director Liang Analysis, in fact, some companies on the gem are undergoing subtle changes, some of the larger shareholders have begun to consider the problem, from the two-tier market investors in the perspective of the analysis, they can not think of such pressure, and will not blindly go to the plate. September-October Gem inflection point approaching "the lifting tide will be at the end of October, at the beginning of November, the market has a relatively large impact, of course, it is possiblereflected in advance. Zhang Hongbin said that from now on, there have been signs that the gem is facing the inflection point, mainly in three: first, from the main body to participate in the rise, the participation of less, the hot money involved more. "Hot money is very sensitive to trends and they cannot be wary of lifting the ban in advance." "Zhang Hongbin said, second, the recent volume can not be enough, from the technical point of view, the head has been formed, upward pressure is very large, often hit the high point on the return of no work; third, the value of the pressure is very large, this set of quotes, is often the QI and the fall, short-term differentiation will not be "But in my own judgment, the valuation moved to a certain extent will be differentiated, if according to 2010 performance, 40 times times more reasonable, so there will be 30%-40% of the Drop-down space." Dong Tiyi, general manager and investment director of Beijing Dragon WINS Investment Co., Ltd., has judged that, starting in July, the share price will gradually reflect, to 9, October will be more intense, that is, the previous high expectations will gradually fall back, and blue chips before too pessimistic expectations will pull upwards. "The valuation of the gem may form a dynamic equilibrium, so that some companies that are determined by the performance will have an opportunity to invest, because they are reflected in advance." "Companies that can keep track of growth" of course, the reaction will be more intense in the weeks before the lifting. Liang said that from the current point of view, some gem companies are not so high growth. "It's impossible to ask many companies to keep growing at 60%-70% a year."　　"Liang estimates, then, the gem will have a slump, this process will kill a part of the stock, will also provide some good intervention opportunities, good companies will emerge." "On the operation, we do not recommend investors to focus on the gem recently, unless it is a good company that you have been tracking for a long time." On the one hand, the overall performance is not good, on the other hand, medicine strong shares of the increase in the market for the early not fall in the high valuation plate of the lower expectations.　　"Zhang Hongbin said. "At present, from the investment point of view, to light the industry, heavy stocks, not because of what a new industry, such as mobile phone payments, began to follow the trend, to continue to track some of the more established good companies, looking for investment opportunities." "Liang said.