Zhejiang: Expectations or excessive looming gem trap

In good Hope, Zhejiang people on the gem is too high?　　Liuxiaolin, a local economist at Zhejiang Province, who has long been concerned about the capital markets, said that as far as the gem was concerned, it was meant to provide capital market services to a large number of independent innovation and growth start-ups, but now some companies are taking the gem as an investment platform, even if they do not run any products, A video site suddenly, upset the Zhejiang people on the domestic video camp pattern and even the gem of the view and speculation.　　June 12, Lok Vision Network Information Technology (Beijing) Co., Ltd. started the night before the China Securities Regulatory Commission issued the Audit Committee, the first in the domestic gem listed video site. Surprisingly, it is not the site in the visibility and profit between the huge amount of data is inversely proportional, but before the news, Ecapital Capital CEO ran in the meager implied that "there is said to be a new media company immediately to the gem will be." It is suggested that members of the Commission should consult the real experts in the industry or the relevant service organizations before making a decision. China's gem is not a chance to become China's Nasdaq, but there are more opportunities to be played. "Zhejiang People's ambition in Zhejiang has always been to guide and nurture the enterprise listing, in the beginning of the establishment of the GEM, Zhejiang has designed a beautiful ambition."　　Zhejiang Provincial Finance office and Zhejiang Securities and Supervision Bureau put forward the development goal of "3 10%": The first batch of gem listed enterprises in Zhejiang accounted for 10%; Zhejiang newspaper industry accounted for 10% of the national newspaper enterprises, and the cultivation of reserve resources accounted for 10% of the whole country. The Zhejiang layout on these gem boards believes that in the past 20 years, a-share market has been shouldering the responsibility of the state-owned economy redistribution and the gradual promotion of the modern enterprise system, after ten years ' exploration and sharpening, the launch of the GEM has more bearing the mission of China's new economic structure adjustment and the transformation of economic growth mode, This to the development of small and medium-sized enterprises in Zhejiang has a very special significance. The establishment of GEM will also cultivate a group of professional venture capital funds, which is bound to change the traditional investment in Zhejiang Province, the main subject of a single, arbitrary major ills.　　More crucially, through the demonstration effect of gem, will greatly promote the venture capital market prosperity. Local positive follow-up, and further promote the Zhejiang Enterprise Hot gem situation. In fact, before the establishment of the GEM, Taizhou has signed a memorandum of cooperation on SME listing with Shenzhen Stock Exchange, and agreed to strengthen exchanges and mutual visits between the two sides in the framework of cooperation.　　At the same time, it is the direct power of Taizhou people to solve the problem of enterprise listing and equity restructuring.　　In the city of Yongkang, industrial Economic assessment ranked first in Zhejiang, the number of listed companies to zero, in December 2009 quietly began the reform of the local enterprises, the development of the "Circular on the full implementation of enterprise joint-stock reform notice", completed by the rewarded. Finally, under the impetus of many places in Zhejiang, in 28 of the first gem companies, Zhejiang has 3 selected, after Beijing. In addition, Zhejiang Province Gem Reserve Enterprise resource-rich, has been counseling enterprises and the recent restructuring of enterprises in line with the conditions of the enterpriseMore than 100, covering the information software, new energy, bio-pharmaceutical, film and television production, new industry, animation and other industries, including the information software industry occupies a prominent position, and also includes private commercial banks, traditional brand-name enterprises and cultural industries.　　As of June 2009, Zhejiang Province in the Development and Reform Commission system filed a total of 66 venture capital Enterprises, accounting for 15% of the country, ranked second in the country. However, in good Hope, Zhejiang people on the gem is too high? Liuxiaolin, a local economist at Zhejiang Province, who has long been concerned about the capital markets, said that as far as the gem was concerned, it was meant to provide capital market services to a large number of independent innovation and growth start-ups, but now some companies are taking the gem as an investment platform, even if they do not run any products, Such a gem and original original intention is indeed a departure.　　Imagine that if the company's products do not have performance, the stock price is very high, this is extremely abnormal, and there is a risk of a bubble.　　Le Video Network event video event to the gem to wipe a layer of gray. As an ordinary user, small qi usually love cats in some video sites, but for the music network, but it is the first time heard. "Heard the curious to run to see, the results found that the content is very general, also did not see any ads Ah, some button ads, there are some banners."　　"he told reporters. Peng, the head of a creative web site in Hangzhou, said that, driven by VCs, domestic video sites were swarming in the past few years, but so far no company has been able to make a big profit. "Now Youku is such a high click on the site is also just beginning to profit, before all is Money investment, the entry threshold will certainly become more and more high, unless there is any new ideas."　　"From more than 300 years ago, to the current 20 several, the domestic video site in just a few years time has eliminated 90%, the profit model is not clear, the cost is too high, the lack of content to become a video site development in the process of three mountain." Data show that from 2004 to 2009, the domestic VC has more than 35 video sites, the total amount of up to 1 billion U.S. dollars.　　But the copyright dispute, the cost is too high and did not find the real profit model makes the domestic video website most is on the brink of life and death, the quantity also from then hundreds of home shrank to dozens of.　　The reporter learned that the video industry has gathered more than 500 million dollars of VCs, the current situation is a bit like a siege, the city outside the want to come in, the city to come up. Hangzhou, a VC personage said, the network video industry prospects are bright, but the current industry environment is immature, but also need to explore a clearer profit model. "For rigorously, the future of the network video industry will continue the capital competition, the market will eventually remain a few oligarch video giants, VCs may choose to be bought or IPO way out." For now, VCs will not be withdrawn from the video industry and will continue to focus on investment opportunities in this area. "The battle between video sites began in 2009. At that time Sina, Sohu, Youku are considered to be one of the first group, and the existing more than 200 videoFinally, the site must be "only the first group to survive."　　Once Sohu CEO Koo even predicted that a few years later, even without such a long time, the site that provides video content will enter the oligopoly era with highly concentrated resources. And three years later, the success of the Unknown video network, the actual control of the Chairman and general manager Jia Yue Pavilion, Jia Yue Pavilion developed in Shanxi Yuncheng City Yuanqu County, long-term engaged in the coal industry. 2001 Jia Yue Pavilion set up Xbell technology began to enter the communications industry, just started to do Telecom base station supporting services, 2003 turn to do indoor and outdoor network coverage.　　November 12, 2007, Xbell Technology landed on the Singapore exchange, raising capital of 200 million yuan. According to the disclosure, Jia Yue Pavilion currently has 17 companies equity.　　The company formed a network of video services, telecommunications equipment integration and manufacturing, as well as film and television investment 3 major sectors. When Youku, potatoes and other first-line video web site in the past few years also struggled in the break-even lines, in China's video site industry traffic ranked after the music network, The 3-year net profit that it announces in the prospectus is staggering: 2009 is 44.4782 million Yuan, 2008 is 30.2547 million Yuan, 2007 is 14.6835 million Yuan.　　Le video network said its revenue mainly from advertising and network High-definition video on demand.　　China video web site industry ranked "Top ten" not even to the status of access to the top 10 video site status of advertising revenue, 2009 reached an astonishing 37 million yuan. Peng, who analyzed the top five advertisers in 2009, said it was difficult to make such an ad budget with the strength of these advertising companies and advertisers. [Page] Speculation will fail Liuxiaolin told reporters that now the enterprise activity has the obvious trend, the real economy is struggling, the product imports from the raw materials to the processing, the management into the manpower investment is very big, the process is very long, the profit is few, thus some enterprises began to turn from the product age to the capital time, took the shortcut, the packing listed And as far as possible with High-tech, new energy and other concepts of the direction to go. Because the motherboard listing requirements are more stringent, competition is very fierce, and small and medium-sized board, gem requirements relatively low, which may lead to a lot of loopholes in the emergence of the phenomenon.　　The key is that the securities regulator lacks systematic, scientific, long-term, and operational measures to nip the problem in the bud. In such a drive, more enterprises regardless of their own reality, all-out efforts to Chong Gem board.　　The China Securities Regulatory Commission announced late Friday that the first application of Zhejiang Jiali Technology Co., Ltd. was not approved at the 90th meeting of the Commission in 2010 held June 11.　　Jia Li Technology is mainly committed to wind power equipment castings, oil storage and transportation of centrifugal pump research and development, production and sales, the proposed 28.88 million shares in Shenzhen stock, issued after the total share capital of 115 million shares, the collection of funds of 334 million yuan for the new 2500 sets of more than 1.5MW large-scale wind power equipment expansion project. Before that, earlySome people said that Zhejiang Jia Li Technology Co., Ltd. profit situation ups and downs, but also a change in equity rights violations. In 1998 when the reclamation Cement plant to Shang transfer of equity. At that time, Zhejiang Jia was a collective holding limited liability company, the transfer of equity did not evaluate the company's net assets, does not conform to the collective asset management related provisions.　　After a lapse of 11 years, last July, the government of Hangzhou Xiaoshan District the transfer issued a confirmation. The second violation is also a matter of asset valuation. Zhejiang Venture Capital is a state-owned enterprise jointly funded by Zhejiang Science and Technology Committee and Finance Department of Zhejiang province. In 2002, Zhejiang Venture Capital will hold a stake in Zhejiang Province, not in accordance with the relevant provisions of state-owned assets management of the company's net assets assessment.　　This is also in 2009 by the Zhejiang Provincial Science and Technology department, the office of Zhejiang Provincial People's government supplementary confirmation. The third violation was in the course of the end of 2000, in the process of increasing the registered capital with capital reserves, surplus reserves and unallocated profits, the chest of $826,000 in surplus reserves increased the registered capital, which was not in line with the relevant provisions of article 180th of the Company law which was in force at that time. Mainly committed to wind power equipment castings, oil storage and transportation of centrifugal pump research and development, production and sales, the main products include wind turbine hub, base, gearbox box, torque arm, then split-type pipeline pump, in-open pipeline pump and series explosion-proof forklift.　　After years of development, the company in the wind power equipment castings and oil storage and transportation of centrifugal pump subdivision industry has been in the leading domestic level, market share separation industry third and first. In the last Friday, Zhejiang Jia Li Technology, which was listed for more than 10 years, was not approved by the IPO.