The gem is double sniper: The organization is busy pumping senior executives hope to set the present

Organizations busy "pumping blood", senior executives look forward to "set now" a year ago has been hailed as "small plate" of the gem, the lifting power is not small. Starting from November 1, with the initial initial shareholders of the gem of the original shareholder restrictions on the opening gate, two strands of power to become a "reduction, set the current" core: one is a venture investment enterprises, they hold a large number of shares in the gem, they choose to reduce the situation is because of the enterprise management of the situation is very understanding of the exit; another is a company executive,　　They tend to hold a much smaller annual salary than the main board listed companies, and they look forward to the lifting of the day to earn enough. "Although the Gem Index has hit a new high in mid-November, it is not enough to show that the large scale reduction and hedging has no long-term impact on the market."　　"On the contrary, in the absence of funds to support the premise, the gem is still being artificially" draw blood. Lifting the market value of nearly 30 billion yuan "I have more than 100,000 shares in the gem, the lifting of the ban will certainly cause market shock, so I shipped at the end of October."　　A shareholder in Beijing said. According to information statistics, November 1, the first batch of listed 28 gem companies, in addition to the shares of all shareholders before the sale of 3 years of sales, the other 27 companies have a group of restricted shares lifted.　　The first batch of gem lifted 1.196 billion shares, as of 8th, the first batch of listed companies restricted shares of the ban is now about 1.24 billion yuan. Hua Bao Societe Generale analyst Zheng told China Economic Weekly, 8 days nearly 1.3 billion of the set is already very high, but it is far from the market expectations of madness.　　He expects that next year will usher in the boom of the lifting of the gem. Zheng said that the first batch of enterprise board companies lifted 1.196 billion shares of the original market value of nearly 30 billion yuan. Among them, the individual shareholder holds about 20 billion yuan, the surplus is held by the Venture investment organization.　　And from the release of the announcement of the gem companies, institutional shareholders are selling a major force.　　November 1, the first batch of the gem of the lifting of the ban on the day, the network of technology was deep into the investment and fortune into the reduction of investment, reducing the number of 215800 shares and 530,000 shares, and the Fortune November 4 continued to reduce 1 million shares, a total set of 32.5977 million yuan, exit will fully appear. November 3, Silver shares of the second largest shareholder of the Blue Mountain Investment reduced its 3 million shares, the amount is 96.5235 million yuan.　　Another gem company robot was also the second largest shareholder stone investment reduction 2.0874 million shares, set up now up to 84.5018 million yuan. Investment shareholder reduction, individual shareholders also began to restrain. November 4, Jiffeng agricultural machinery executives had the morning of the company 120,000 shares, set now 3.69 million yuan　　, silicon Bao technology executives Li Buchun 302,500 shares, set now 7,713,750 yuan; November 5, the Chinese-yuan Huadian executive Guo reduction of 500,000 shares, set now 11.35 million yuan; November 8, China Yuan Huadian personal unit of the East David reduce 550,000 shares, the amount of 12.485 million yuan. In addition, November 10, Leme pharmaceutical industry encountered Chongqing Technology Venture Capital Co., Ltd. reduction of 2170,000 shares, set now 61.845 million yuan.　　According to data released by the Shenzhen bulk Trading platform, November 1 November 5, the company shares turnover of about 1.59 billion yuan, the amount of which is considered the lifting of the unit "cash" amount. Although Shang Fulin, chairman of China Securities Regulatory Commission, made it clear at the first annual meeting of the gem that a small number of executive restricted shares would not hinder the overall situation and would not have a substantial impact on the development of the gem.　　However, many people in the industry view, a large amount of money is drawn away from the market, the risk can not be ignored. High valuations create a high reduction of the British Securities Institute director Li Dahuan told China Economic Weekly, general restrictions on the sale of shares after the lifting of shareholders will have 3 ways: first, immediately after the lifting of the ban on selling, the second is the use of ant moving, 1.1 of the selling;　　Sell in this form. "Comparatively speaking, the third way is more clever, before the small and Medium-sized board shareholders mostly adopt the second or the third way, using the first form of less, can now see, gem shareholders of three kinds of situation will appear." "" overvalued value is the main reason for high reduction after lifting. Liu, chief representative of Hong Kong's Longsheng investment in Beijing, told China Economic Weekly that the 28 companies that started listing on the gem are 66.74 times times the average P/E, more than 45.89 times times the board, much higher than 36.45 times times the Shenzhen motherboard.　　At the same time, gem listed companies in 2010 3 quarterly earnings and profits are less than the same period of Shenzhen motherboard and SME plate. "Generally speaking, the low cost of investment in a VC determines that it will withdraw as soon as possible once the shares are lifted, and will not decide whether to timing exit according to the fluctuation of the level two market price." Liu admits. [Page] Investment fund issued by the report that the lifting of the board of many of the shares are not industrial capital, but in the short-term investment, these funds to fulfill the desire for profit is very strong.　　According to the report, the release of the listed companies, Jinya Technology lifted the shareholders have 6 venture investment, Internet technology released the shareholders also have 6 venture investment. In addition, GEM enterprises are willing to reduce the important reason for a high proportion of individual shareholding. "As a result of the stock market prior to the incentive or enterprise restructuring, a number of gem listed companies individual decentralized shareholding phenomenon is serious."　　Spokeswoman said that the result is that individual shareholders in the period after the lockout, according to their own will to decide whether to reduce, the cash. "High growth" appeared in the beginning of the decline of the gem, in the high growth halo under the shadow of the gem Company's performance situation has undoubtedly become the focus of the market attention.　　However, through the gem of the three quarterly reports of mixed feelings, to the current trend of the lifting of the crazy after the current, investors are a little confused. According to information provided by the data, 134 gem companies in the first three quarters of this year to achieve a net profit of about 6.7 billion yuan, relative to the same period of growth of 30% per cent, but it is noteworthy that this level of growth is still less than the three quarterly reports of the motherboard company about 43% of the increase,And there have been a number of companies that have fallen. Among the companies that have fallen, there are a number of former star companies.　　Take Pao shares as an example, the company's 2009 annual report has maintained a 72.7% net profit growth, to this year has been 3 consecutive quarters of the decline in profits, full-year results are expected to reduce 20%~60%. In this regard, Professor Dongdengwen, director of the Institute of Financial Securities, Wuhan University of Science and Technology, said that the high growth of the gem, itself means high risk, high mortality or high rate of return, even if the enterprise board companies to return the bulk of the market, it is reasonable.