If the listing of Xiaomi A + H comes true, it will be a landmark IPO of A-share new-economy companies, which means the beginning of the structural transformation of A-share listed companies and the capital market marked by the 'three new' new model of new economy and new industries Overture of the new era.
Recently, the same time, the regulators came out to unicorn Unicorn IPO green channel news, also exciting.From the four industries, including biotechnology, cloud computing, if Unicorn's corporate customers, in line with the relevant provisions Who can apply for immediate trial, without queuing.This is the same as the listing of millet A + H, is the regulatory phase of the previous stage to increase the inclusiveness of IPO the true place of accommodation.
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 the new era of China's technological innovation into the wings of capital .
In the past, A shares have been the lack of large-scale technology companies in order to support entrepreneurship and innovation for the purpose of the GEM is the largest market capitalization Wenling shares of farming industry, which is really the GEM's irony. Therefore, A-share IPO to have a large pattern, To dare to make large-scale technology companies listed, trying to unicorn, super unicorn company listed.Actively absorb a certain scale and industry influence of large companies, not to raise too much money on the stock market, "blood" too much Will be refused to the door. A stock missing is a good company, even if the size of the larger point, I believe investors will both hands welcome the development of outstanding companies.
At present, A shares also lack the outstanding new economy companies, the structure of listed companies to traditional enterprises .My unicorn animal companies such as millet listed as soon as possible, 'A stock no good company' the best way .In fact, the domestic is not without Good companies, but most are forced to the overseas capital markets listed last year, the global technology startup company 'unicorn' list, a total of 56 companies in China list these $ 1 billion worth of Chinese unicorns Enterprises, which are mainly distributed in science and technology finance, e-commerce and pan-entertainment, represent the future of the "five new" economy of new retail, new manufacturing, new technology, new finance and new resources.
In the past, most of these unicorn companies listed on the overseas capital markets, most are not listed in line with the domestic IPO conditions.Many investors have lamented A shares of good companies are gone, there is no good domestic companies now, as the regulators We are proud to say that the new BATJ can finally be listed in the domestic market. A shares will also have more outstanding large-scale technology companies and innovative unicorn unicorn companies.
However, let the Unicorn companies such as millet market priority, there are several practical issues to be weighed:
First, the IPO standard needs to be revised accordingly.New economy companies are listed on A shares, mainly facing three major obstacles: First, the profitability index requirements, the second is a special equity structure that is VIE structure, the third is the same rights of different shares.Mix enterprises Faced with the latter two issues, which involves the revision of securities law, company law, modify the listing guidelines, before that, can be taken to promote a secure way to allow 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, we must prevent inferior companies from borrowing new economy into the market, and through a series of system designs, let the new promising economic companies with real potential and high-quality corporate genes be listed as soon as possible, while inferior companies and Fudge companies will be blocked in the IPO of A-shares In addition, to avoid the emergence of more 'music as the second'.