October 30 is the anniversary of the launch of the GEM two days. Although the management, the introduction of the GEM “Preliminary achieve the expected goal,” but as an investor, however, it can not help but think about this question, two GEM to investors what? Review the history of the past two years, investors have become GEM only losers.
Although the GEM for the SME market, but the biggest winner of the GEM is undoubtedly the controlling shareholders of listed companies and large shareholders. As the company is listed, controlling shareholders of these companies with large shareholders flourishes. According to incomplete listing anniversary of launch of the GEM, a total of 271 companies listed, so bring as many as 824 billionaires, more than one billion dollar billionaires more than 120. The resulting multi-millionaire, but several thousands of dollars. If all of these shares are cash rich, far more than its cash value when first listed companies and fund-raising amount.
Of course, the GEM is also a big winner. By logging on GEM, GEM worth soared. One of the most convincing data that these companies get a lot of fund-raising market, and even raised funds. According to WIND IT statistics, 271 companies plan to fund-raising 66.418 billion yuan, 178.834 billion yuan actual fund-raising, raised over 112.416 billion yuan, raised as high as 169% over. The figure, the average GEM fund-raising 660 million yuan, over raised 415 million yuan. According to Ping An Securities in a research report, which raised funds with 84.66 percent idle in the bank to sleep.
In addition, as the representative of the sponsor agency, surprise shares and other interest groups who have become the launch of the GEM is also a big winner. For example as of October 23, the GEM has a total of 274 outstanding shares (not including the October 24 issue 25 issue of the sun’s power and Mei Ansen). Which statistics 270 companies paid a total of 12.55 billion yuan of issuance costs, of which the vast majority paid to the sponsor. Securities as safe as the 38 GEM companies lead underwriter, the harvest of 15.1 million sponsorship and underwriting costs; Guoxin Securities acted as the 23 GEM companies lead underwriter, sponsor harvest 8.4 billion and the underwriting costs.
Only investors are the only losers. As of October 21 to the data, for example, the number of companies listed on the GEM 269. Of which 228 stocks closing below its 21 first-day opening (right before the complex), accounting for up to 84.8%, that is, even if that is listed on the first day of opening buy and has held, is still Nearly nine investors are at a loss. Among them, the national technology, Jian Rui fire, when the rise of the century Riel, Netac technology 8 GEM stocks right after the re-opening the price relative to the decline were more than 60%. Another 151 GEM stock closing price (right after the recovery) is less than its issue price, accounting for up to 56.1%. Among them, Hanson moved, Ningbo GQY, Hong Chi Pharmaceutical and other break ratio exceeded 50%. The GEM board from the open price-earnings ratio of 111 times the first day of October 27 fell to 42 times, or more than 60%. It can be said, the GEM is to bring cheap uggs on sale.
That is why, two years to complete the GEM board inherited the mantle of wealth for investors predators. And the motherboard, the GEM is also established on the basis of the expense of the interests of investors. In view of this, as investors, it is necessary to understand the market again, to re-examine their investment behavior. Furthermore, if investors need to continue to stay in this market, but also must be addressed. If you change the positioning of the GEM, investors choose to leave the market when it is a wise choice.