Tang June: Can gem create myth?

Wen: Tang June Source: Oriental entrepreneurs more and more people expect the gem to bring miracles, and even create myths. But what the gem is, not everyone has a clear understanding of it.　　From the authorities to the companies eager to go public, everyone is stones. China's capital market has just started, we generally have high expectations of corporate listing, and even feel mysterious. Many people may feel that a company to be listed, and suddenly create a large number of millionaires, tens of millions of billionaires, is simply a myth.　　The strong yearning for wealth let people relish, the magic of the hand of capital, and constantly let us around the unknown people overnight wealth. In the mature capital market, listing is very common. As long as you are willing to pay a sum of money, it is easy to put a company to meet the basic requirements of the operation of the listing. But at home, people are still strange the listing of enterprises. Just like 20 years ago to study abroad, people can go too little, we feel great, very mysterious. Parents used to talk about fairy tales about the children of the neighborhood who were studying abroad.　　But today, studying abroad is too common. The essence of studying abroad is to learn something. The essence of listed companies is financing development. The biggest function of the gem is to help small and medium enterprises to open the financing gate and to turn the enterprise itself into a financing platform. Many companies may not be aware that listing is both an opportunity and a challenge for companies. Listed companies are essentially standardizing the company, but also the integrity of the company. For example, financial statements to be true, to open, business management and operation of the major issues must be timely disclosure, which requires enterprises to consciously standardize the transformation.　　Of course, this will also bring a lot of benefits to enterprises, can speed up the development of the market, can make the enterprise brand value-added, can attract more talents, but also can make staff more sense of belonging, pride. A business to the gem, first rely on strength, strength determines whether we pay to buy stocks, followed by normative operation, many enterprises, although there is strength, if not understand the operation, still cannot be listed smoothly; third, rely on the relationship, this is Chinese characteristics, especially the market level is not high, early on the gem may need to allocate indicators, There are indicators to be related.　　This is China Gem listed "trilogy". The core of the trilogy is operation. Small and medium-sized enterprises have a certain strength will want to go to the gem, but do not understand the operation of the enterprise also have no. Operation is not hype, speculation is virtual, amateur, bubble, short, the operation is real, professional, pragmatic and long-term.　　Hype is only to do cosmetic, operation is the normative advance. That year Shanda in the United States gem listing, a lack of normative operation at the outset, we are not optimistic, investors do not have confidence, the industry is bad news, even a grand some employees do not have confidence, some people even offered to resign. I went to Wall Street to do a road show, the enterprise not only successfully listed, but also become "China Interactive Entertainment First", this roadshow is operation, not hype.　　Wall Street is not speculation, if only hype, there is no chance. Our operation is to tell stories to Wall Street, to tell stories that we understand, andAnd it's a story you like to hear. When I talk about the grand free model, I first have to answer the question of investors: what do you do to make money? Because I know about Wall Street, I take Disney as an example, and we all know how Disney makes money, and the income of tickets accounts for more than 30% of their income. So I said, if Disney is free of tickets, will there be more people coming? When the number of visitors is three times times more than the original, Disney's income will be far more than the original income. Everyone agrees, but one investor asks, "What do you mean, Disney all over the world should be free?" "I said:" No, this is the difference between the virtual and the reality, the number of visitors from 20,000 to 60,000, Disney will be busy, to increase the number of operating costs, profit margins are down, but the network game is virtual, 20,000 people and 60,000 people play together, the cost of almost no growth. So everyone understood, this operation so that the grand stock price increased by 35%. China's gem opened, to go to the Enterprise board first to learn to operate. Be sure to make the business model clear, the investors generally agree.　　If the hype is only publicized, the stock price may rise short, but not long. Gem is characterized by big risks and great opportunities. Because the gem small scale, the performance is not stable, the fluctuation is big, today good company, tomorrow may be bad, even has the retreat market risk. The American gem is a great success, but it also has a 5.6% per annum rate. China's gem, if normal operation, the rate of return should be higher than this number.　　Because of the investment risk, we will be more cautious investment gem, but, once the capital market bullish, coupled with the efforts of enterprises themselves, it is possible to harvest such as Microsoft's Dragon species. As far as I know, at present, there are about 300 enterprises in China competing for the "head Soup" of the gem, I am more optimistic about the High-tech enterprises, not so optimistic about the traditional industry, although the latter's profitability may be better at the start, but its growth is limited. High-tech Enterprises will lead the future consumption trend, they are groundbreaking, often open up a blue sea, make a new cake, can also do a lot. To help such enterprises by leaps and bounds, it is the charm of the gem. The myth of Gem is non-existent, but it is worth expecting miracles.