The market value of deep venture investment is up to 1.347 billion yuan

169 PE Riders China Capital Market New Express reporter Pang Shadow perhaps in the 2007 "Partnership Enterprise Law," the revised version of the launch, people did not think that in three years later today, China's PE can be in the chaos more and more far, will be the capital snowball rolling bigger.　　The motor that accelerates the wheel of history is the starting-board of the 2009 end. According to incomplete statistics, as of September 17, the GEM listing 120 listed companies, a total of 169 PE institutional investors stationed. Excluding individual PE entry, this means that the average of each gem listed companies in about 1.4 PE agencies involved.　　and the relevant data show that the average PE per home or hold about 5 million shares.　　There is no doubt that the gem open plate ignited the fuse of PE blowout, leading the entire investment industry into the spring and autumn era, but behind the amazing benefits effect, the arrival of the lifting tide will introduce shuffle crisis, Warring States era or in the dream come. Over 300% of the investment rate of return data show that the gem is prone to a hundredfold multiples of PE investment prices rise, with the current gem valuation as a reference, if the listed enterprises can still get more than 300% of the return on investment. No wonder there is a person called "gem launched, is tantamount to the PE industry to play a stimulant." "In fact, the institutional holdings of the first 28 companies listed are visible.　　Data show that more than 40 PE invested 23 gem first listed companies, according to the stock issue price calculation, its total investment has added 6.24 times times. Although most of these investments belong to IPO investments, and for different investment time, the market gives a different return: 2008 years after the investment of PE, earnings are within 5 times times, more than 10 times times the return of investment, enter the time in 2007 or before, such as the 1999 entered the Beijing Technology venture,　　Shares have been added 28 times times. But companies that covet interest are Shijian.　　It is understood that the shares of 28 of the first gem listed companies of PE institutions, the holding time cost of less than 5 years, most of the company listed in the first three years before the intervention, but also listed on the eve of the surprise shareholders. Take the first venture Board company's PE investment time as an example. If the 2005 years ago, 2005-2008, 2009 three time period to divide, PE investment enterprises only 1 of the investment in 1999, 19 enterprises in 2005-2008, 7 enterprises in 2009, that is, less than 1 years of investment in enterprises to achieve the listing,　　Visible PE to the enterprise's investment peak starting from 2007.　　Shenzhen Stock Exchange statistics show that as of June 2009, before the start of the newspaper to send materials, there are still two investors successfully squeezed the first board of the last bus. Deep-invasive cast holding 7 stocks in fact, Shenzhen Innovation Investment Group Co., Ltd. (Deep Venture) not only holds the when the technology, the division of electricity, in green bao, Ding long shares, three-dimensional silk, Oriental Sunrise, music network, such as 7 stocks, but also in April 2009, the Gem opened the eve of the board, to about 1.4 million yuan to flash into the digital governance to obtain 1.84 million shares. Only the top ten shareholders ' lists of digital political contacts show that deep ventures are not in or have withdrawn.　　In addition, it is worth mentioning that, in last year's annual report, China Science and Engineering unit held only 3 million shares, but this year the time has been raised to 4.5 million shares.　　As of September 20, the reporter to invest in deep investment when the initial purchase price of 6 million yuan compared to the current market value of more than 200 million yuan, magnified 35 times times or so, invest 14.4 million yuan to buy the current stock market value of nearly 100 million yuan, then harvest 600%. Calculated to hold a share of seven shares, We know that the 7.8 million shares of Green Bao are worth 160 million yuan, Zhongke electric 4.5 million shares present value 98.46 million yuan, the three-dimensional silk 4.8798 million shares present value 194 million yuan, the Lok sees net 3.4125 million shares present value 115 million yuan, the east rises 9.2638 million shares present value 410 million yuan, Ding long shares 3.1793 million shares present value 160 million yuan　　, the 4.47 million shares of the technology are worth 210 million yuan, totaling about 1.347 billion yuan, more than 40 times times the investment cost. To achieve the above wealth, the longest time spent is only a little more than 3 years.　　The above 7 investment, the intervention time is the longest when the technology, deep venture investment in August 1, 2007 to about 6 million yuan of the cost of the shares, and its intervention in the green treasure, Ding long shares, the electrical, three-dimensional wire time is February 2008, April, November and February 2009 respectively. Foreign PE shakes but the local PE statistics 169 PE know, Shenzhen is in the lead position, this mainly originates from the local sponsor organization and the creation Investment organization and so on has the innate superiority, for the local small and medium-sized Enterprise's development, the listing provides the greater convenience; Shanghai is not to be outdone, there are 27 PE companies scattered in 120 gem board , followed by Zhejiang, Guangzhou, Xiamen and other fields. This shows the overall distribution of PE institutions, Shenzhen, Shanghai, Zhejiang Three separation, the three areas of PE institutions have occupied half. It is worth mentioning that, from the statistics, it is not difficult to see that the local PE in quantity occupies an absolute advantage, well-known foreign investment has become a "rare animal."　　There are a handful of Le Pu medical access to Warburg Brook's investment, China-yuan Huadian won the investment in the Fund and so on. The report, which is good at studying the China venture capital and private equity investment field, says because VC/PE in China mostly take "red chip mode", that is, the actual control of the enterprise is in the Cayman and other offshore centers set up shell companies, from shell companies to acquire assets of domestic enterprises, and ultimately to the shell company to achieve the purpose of listing overseas. The result is that foreign VC/PE investment companies have set up overseas structures, and it becomes very difficult to return to the mainland.　　So in the gem of the project reserve appears to be shy. "Local PE compared to foreign PE has more channels, priority to enjoy the domestic listing procedures, rules, personnel and regulatory review agencies and other resources, natural more core advantages." "ThereInsiders say. Reporter in the statistics found an interesting phenomenon is that the registration of these PE is generally located in the location of investment enterprises, showing PE and invested enterprises in the geographical distribution of highly correlated.　　This is to some extent supporting the industry's "geo-judgment". PE also has a failure case but not every company has been the fate of the god of Providence, such as Jiangsu province Su High-tech Venture Capital Co., Ltd. (SUKAO), which is the permanent third largest shareholder in Suzhou, such as the Suzhou permanent and timely listing, Su High-tech holding Xuzhou permanent 3,514,667 shares ( The book value of the 2 million shares transferred to the National Social Security Fund Council is 73.1 million yuan, and the cost of its stake is only 7.5 million yuan.　　But all this with Suzhou eternal in the eve of the fake storm and the rain hit the wind blowing.　　Tragedy and not only this one, the data also shows that up to the end of the two quarter of this year, a total of 33 gem to listed companies listed on the listing of the application is not, 1 will be temporarily disqualified. High-tech companies are favored from the industry point of view, as of the second quarter of 2010, the PE investment gem company focused on information, machinery, chemicals, pharmaceuticals, electronics, transport, construction, public utilities, construction, light industry and textile clothing. Among them, information service companies have the largest number of investment cases, mechanical category, the proportion of the total is 28%, 23% respectively.