If the listing of Xiaomi A + H comes true, it will mark the beginning of the structural transformation of A-share listed companies and the prelude to the new era of capital markets marked by the 'three new' new model of new economy.
The news of millet listed boiling again.
March 1, the media reported that sources said the millet IPO may finalize the A + H shares issued after the millet listing has been the choice between Hong Kong stocks and the US Although the news has not yet been officially confirmed, but the news has not yet been officially confirmed, According to the rumor that A + H will be listed on the market, millet will become the largest IPO of technology stocks in Hong Kong stocks in 2018. The valuation of 100 billion U.S. dollars will become the third-largest technology sector in China after Ali and Tencent.
If the listing of Xiaomi A + H comes true, it will mark the beginning of the structural transformation of A-share listed companies and the prelude to the new era of capital markets marked by the 'three new' new model of new economy.
Previously, Foxconn and 360 can be seen as the prelude to the reform of IPO system, Foxconn IPO process is very fast and efficient, Foxconn walk is a special channel for trial trial. 360 backdoor Jiangnan Jiajie, is also a similar Unicorn company China Unicom rapid return of the stock channel unicorns IPO green channel will be tilted to the new economy in the allocation of resources through the capital market to boost the strong 'Chinese-style innovation' so that China's technological innovation in the new era plug in the wings of capital .
The news that makes investors excited is not only so.
February 28, sources quoted sources said insiders, the Securities and Futures Commission issued guidance to the relevant securities firms, including biotechnology, cloud computing, including the four industries, if there is a 'unicorn' corporate customers, immediately to the The issue of the Ministry of the report, in line with the relevant provisions of those who can carry out immediate trial. The news also triggered the market 'boiling'.
In fact, if this is true, this is to some extent the real stage for regulators to increase the inclusive and inclusive performance of IPO.
In the past, A shares have been the lack of large technology companies, in order to support entrepreneurship and innovation for the purpose of the GEM's largest market capitalization company is Wen's shares of farming industry.Therefore, A shares of science and technology innovation to provide financial support, IPO need to have large Pattern, and actively absorb a large scale and industry influence large companies, not to raise too much money on the stock market, "blood drawing" to refuse to be on the grounds of too much. A stock is missing is a good company, even the volume Large, investors will also welcome hands with both good prospects for the development of the company.
At present, A shares also lack the outstanding new economy companies, and the structure of listed companies is dominated by traditional enterprises, so letting Unicorn companies such as Xiaomi be listed as soon as possible is a good way to change 'A shares without a good company'.
In fact, China is not without a good company, last year's global tech start-up company unicorns list, a total of 56 companies in China.These valuation of more than 1 billion US dollars of Chinese unicorn enterprises, mainly in science and technology finance , E-commerce and pan-entertainment, representing the future of the 'new five' economy of new retail, new manufacturing, new technology, new finance and new resources, with the exception that most of these unicorn companies are listed on overseas capital markets and are not listed Most are not in line with the conditions of domestic IPO. Many investors lament, A shares of good companies are gone.
Now that the new BATJ is now available in the country as the regulator opens up its IPO green channel to unicorns, there are several real-life issues to consider:
First, the IPO standards need to be amended accordingly.New economy companies listed in A-share, mainly facing three major obstacles: First, profit targets, the second is the special equity structure that vie architecture, the third is the same rights of different shares. The latter two issues, which involve changes to the securities law, company law, modify the listing guidelines. Prior to this, can be safely advancing, so that the current IPO conditions Unicorn listed on a priority.
Second, the unicorn company, the new economy, the nature and size of a detailed box set in this regard, you can refer to HKEx emerging and innovative industries listed in Hong Kong market consulting program.At the same time, for different shares The right to develop detailed investor protection measures.
Third, to prevent inferior companies from borrowing the new economy into the market, a series of system designs should be put in place to allow new economic companies with real potential and high-quality corporate genes to be listed as soon as possible and to stop inferior ones and Fudge Companies in the IPO window of A shares outer.