Yanxiaoping: The high price/earnings ratio of gem creates two impetuous psychology

Chinaventure Beijing Time June 23 Morning News, Fortune Venture capital Beijing Branch general manager Yanxiaoping in today's sixth annual Asia-Pacific Investment Summit, said the two-tier market gem of the high price-earnings ratio caused by two impetuous psychology. Yanxiaoping that the high price/earnings ratio of the two-tier market leads to the social two impetuous psychology, the first to our part of the entrepreneur, the level two market earnings ratio and his corporate value, which caused their very high expectations, which is very irrational and unrealistic. Many companies on the 3 million, 5 million profit, they think of themselves as a IPO, has been called a high value, which is hurting the company. In the view of investment institutions, RMB funds are indeed very hot, resulting in some investment institutions, especially the ignorance of the new investment funds fearless, resulting in market irrationality.　　Therefore, we have a relatively long-term local renminbi funds, we will adhere to our investment strategy. Yanxiaoping also said that we have made some adjustments this year, and we also look at the early days and push some of the early projects. We are in the staffing structure, because we have a large-scale recruitment this year, the regional distribution has set up a lot of offices, such as Chengdu, Changsha, Nanchang and other areas, more extensive coverage, contact more projects, there are more options and space, with the Chinese SMEs deep contact. Third, we focus more on the focus areas we have reached, professional, and our brand, services, not only the price of entrepreneurs to obtain the trust and understanding. For us to return to the source of venture capital enterprises, how to find the investment value of enterprises, looking for a great enterprise potential enterprises, to find the Dark horse enterprises, this is our major challenge.