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Liu Jipeng Shelled The Gem: From "Ceiling" To "Floor"

2011/6/27 10:19:00 55

Gem

The illusion of bubbles and prosperity in China's stock market has been created. For example, the average price earnings ratio of the 233 companies is 70 times.

Second, mislead the gem entrepreneurs into the wrong way, entrepreneurs do not go to business, and now they have found that the original concept of selling money faster.

In addition, it also harmed the GEM companies.

Liu Jipeng, director of the capital research center of China University of Political Science and Law, publicly bombed all kinds of unreasonable phenomena in the "Third China (Shenzhen) GEM forum" in 2011.

Liu Jipeng said, 233 GEM companies, on average, each raised 500 million yuan.

Over subscription

The funds are close to 115 billion.

In terms of building wealth, 233 enterprises, 717 billionaires and one billion millionaires have 106.

Brokerages are another big beneficiary.

The charge for sponsorship underwriting fees is getting higher and higher. From 2009, the fees collected by each enterprise were 39 million, up to 48 million last year. In the first quarter of this year, every listed gem enterprise took 59 million, and the underwriting rate exceeded 8%.

If combined with direct investment from brokerages, the proceeds will be even higher.

These are the "ceiling" phenomenon of the growth enterprise market.

Back to the two tier market of gem, the average issue price of gem is 34 yuan, and the average price of the two tier market is 22 yuan.

Last May 1st, the gem started [844.85 1.50%] 1000 points officially launched, now low is more than 790 points, big shareholders of the rich and huge wealth, and two level market.

Investors?

The general losses are in sharp contrast.

Since January this year, more than 80 companies listed on the first day of breakage accounted for 33%, coupled with the subsequent breakage, the entire gem 233, and now there are 112 breakage.

Gem is experiencing the throes of "ceiling" to "floor", which is the loss of investors' blood.

Liu Jipeng thinks that the high issue price misleads entrepreneurs to go astray, and entrepreneurs no longer have patience to start their own businesses. Now they find that the original concept of selling money is faster.

Sun Lijian, vice president of School of economics, Fudan University, also believes that the GEM market is still out of the "strange circle" of the main board market, and is still a place for "money".

"The current motherboard market is more and more similar to the GEM market, which is a tragedy."

Sun Li insisted.

However, Sun Lijian still saw the hope. He said: "the recent large-scale adjustment of the gem shows that the market may still have a chance to return to success, but this needs to move towards a more professional direction."