Recently, the Unicorn concept stocks became popular capital market.New Beijing News reporter statistics, March 2, Shanghai and Shenzhen companies have 35 companies daily limit, including the concept of high-Weida gold clothing related stocks, Hefei urban construction, in addition, millet-related Concept stocks Cape Road, Winton shares, equity unicorn company Ningde times listed company Huaxi shares also daily limit.
It is also on March 2 the same day, the CPPCC National Committee members, former chairman of China Securities Regulatory Commission Xiao Gang said in an interview with the media, A shares of the IPO system reform, unicorn business services listed on the IPO approval system innovation.
On March 3, NPC deputy and Wang Jianjun, general manager of the Shenzhen Stock Exchange, also told the media that the CSRC and the Exchange are stepping up their efforts to provide conditions for pilot and preparatory work on the issuance and listing of the new economy 'unicorns' in the domestic market, The preparation of the rules at the level of the Shenzhen Stock Exchange has basically been completed. "Sincere invitation for new economic enterprises to stay in the territory, but also sincerely welcome new economic enterprises to the Shenzhen Stock Exchange."
Earlier on February 28, there have been media reports that the SFC to guide the brokerage firms, including artificial intelligence, high-end manufacturing, biotechnology, cloud computing, including the four industries, the 'Unicorn' company opened IPO green channel.
And these unicorns behind the investors or is the biggest beneficiary of their IPO.Among them, including Sequoia Capital, BAT and other investors.Hu Run Institute of Statistics statistics from the 120 unlisted Unicorn enterprises, Sequoia Capital capture the largest number of 'Unicorn', up to 27, Tencent second, invest 21.
120 unicorns, 'millet concept stocks' 21
Unicorn, a concept pioneered by venture capitalist Aileen Lee in 2013: a simple definition of a startup that valued more than $ 1 billion, has many startups defined as less than 10 years old.
In December 2017, Hurun Research Institute released the "2017 Hurun Greater China Unicorn Index". Hurun Research Institute screened out nearly 800 high-growth non-listed companies and selected the unicorn capital market definition Outstanding externally-funded emerging companies with over one billion dollars in value screened 120 unicorns, including 45% of unicorns in Beijing.
According to data from the Institute of Hurun, 22 of the 120 unicorns belong to Internet services, 22 are e-commerce companies, 17 are Internet finance companies, 10 are cultural and entertainment companies, and some are more recent. Concerned about the big data and cloud computing, artificial intelligence, robotics and other enterprises.
According to the market capitalization list, Ant Financial took the first place with a valuation of 400 billion Renminbi, dripping travel and Xiaomi and Xinmeidai ranked No. 2 with a valuation of 300 billion yuan, 200 billion yuan and 200 billion yuan respectively Tied for third; today's headlines, Ningde era, Lu Jin three companies are tied for the valuation of 1000 billion tied for the fifth; Xinjiang to 800 billion valuation ranked No. 6; reputation, rookie network, Jingdong Finance, hungry What are the value of more than 500 billion at the same time ranked No. 9.
Beijing News reporter statistics, based on the above 120 companies, the A-share market derived a large number of 'Unicorn concept stocks' which, 'Ant gold clothing concept stocks' there are 20 'millet concept stocks' There are 21, equity participation 'Ningde era concept stocks' there are 12 'rookie network concept stocks' there are seven.
According to the incomplete statistics above, there are more than 200 unicorns and unicorn stocks in the Chinese market.
Unicorn IPO 'around the corner,' and some first listed three new board
As early as February 28, there are media reports that the SFC or the relevant securities firms have been given guidance, including biotechnology, cloud computing, artificial intelligence, high-end manufacturing in four industries, if there are 'unicorn' corporate customers , Immediately report to the issuance department, in line with the relevant provisions of the newspaper immediately issued to the trial immediately without queuing, two or three months will be able to finish.
On March 3, NPC deputy and Wang Jianjun, general manager of the Shenzhen Stock Exchange, also told the media that the CSRC and the Exchange are stepping up their efforts to provide conditions for the issuance and listing of "unicorns" in the new economy in the domestic market.
On March 4, Fu Jun, member of the 13th CPPCC National Committee and Chairman of the Board of the Xin Hualian Group, pointed out in his proposal that more innovative enterprises with new technology and new economy should be listed on the A-share. Encourage Ant Financial Services, Huawei, Xiaomi and other A-share IPOs to boldly explore and try to disagree with each other's shares, release restructuring approval, and encourage overseas innovative listed companies to return to A-shares or A-share spin-offs.
Without letting go of the next 'BATJ' cry, there are already more and more unicorns targeting the A-share market.
February 9, Foxconn's prospectus into the pre-disclosed state, and in February 22nd, Foxconn's prospectus into the "pre-disclosure update" state of the capital market is generally believed that this is Foxconn into the IPO queue fast lane of a large March 1, Foxconn concept shares Ancaigaoke, Yuhuan NC limit.On March 4, the SFC official website disclosure, Foxconn A shares IPO application will be issued on the 8th audit.
Recently there are media reports, as a unicorns in the giant, millet IPO may finalize the A + H shares issued in both places.Although the news has not been officially confirmed by millet, March 2, millet concept stocks in the Shares, Cape Road, the two companies have daily limit.
Unicorn era Ningde era, as early as November 2017 to submit to the SFC IPO prospectus draft, plans to issue shares of not more than 217 million shares, plans to raise 13.1 billion yuan, the transfer of about 10% of the shares from This inference, Ningde era valuation has more than 130 billion yuan.According to the well-known medical media Endpoints website reported on January 16, biotech unicorn enterprise Cinda creatures are also planning an IPO, but the place for sale is undecided.
In addition, Ant Financial Services, Jingdong Financial and other companies listed on the agenda has also been the concern of the capital market.February 1 Alibaba announced that it will be based on the agreement signed in 2014, the two sides signed a share of Ant Financial and obtain a 33% stake. Means that the distance from the ant clothes to go further.
It is noteworthy that the Internet giant currently in foreign capital markets also said they would like to return to A. On March 2, in an interview with the Beijing News, Li said he hoped to return to the domestic stock market earlier.
According to media reports, Ding Lei, chairman of the board of directors of NetEase's company and member of the National Committee of the CPPCC participating in the NPC and CPPCC, said he would consider returning to the A-share market when Wang Xiaochuan, member of the CPPCC National Committee and CEO of Sogou, was asked whether Sogou will consider returning to A shares Response: 'Sogou optimistic about this matter, there are also willing to return to A shares, will follow the policy to go.'
'Unicorn' into the A-share is still a 'big deal' problem, due to A-share IPO review mechanism requires the company to be listed for 3 consecutive years of continued profitability, corporate ownership structure also has restrictive requirements, which makes a lot of new Internet Enterprises in the ownership structure and earnings can not meet the A-share issuance conditions, the above factors become 'BATJ' choose Hong Kong, China, the United States one of the reasons for the listing of the capital market.
For the more difficult A-share market, but also some unicorn companies choose 'curve into the capital market', that is, the first listing of the new board. Beijing News reporter statistics, statistics in the Hoogewerf 120 unicorn Companies, Divine UCV, Heroes Entertainment, Kids Wang and other enterprises are listed on the new board.
Sequoia captures the largest share of Unicorn, followed by Tencent
Once the rapid rise of the Unicorn once listed as soon as possible through the 'green channel', then the biggest benefit must be the investor behind the Unicorn company.According to the Beijing News reporter found that these unicorn behind the business, are not Less capital giant, BAT shares, there are many companies have been the background of state-owned investment institutions shares.
In December last year, Hurun Institute of Statistics statistics of 120 unlisted unicorn enterprises, Sequoia Capital investment in today's headlines, DJI, Jingdong Finance, and what other 27 companies, becoming the largest capture Unicorn A company.
Ten Unicom investment drops travel, the United States big, chain home, the future of 21 unicorn car companies, Ali investment in 11 unicorn enterprises, including the ant gold clothes, word of mouth, Meizu, the earth cinema, Taobao votes Tickets, etc. In addition, Jingwei China, Gaoqu Capital and Qiming Venture Capital respectively invested 15, 13 and 13 unicorn enterprises.
It is noteworthy that, the top ten unicorn enterprises, at least five state-owned shares.
Beijing News reporter through day eye check statistics found that ants gold service major shareholders, the National Social Security Fund Board 9.56% stake, Hangzhou Jun Han is the second largest shareholder.
As early as April 2016, Ant Financial announced the completion of the Series B round of financing. The investors include CIC Overseas, China Life and China Post.
In addition, among the top ten unicorn companies, the top headlines of today are CCB Capital Investment under the China Construction Bank, innovative investment from SDIC at Ningde Times, all Bank of China Group investment by Lujin, and Jingdong Investment by China Taiping Investment.
According to data from the Research Institute of Hurun, the total valuation of the above 120 enterprises is over 3 trillion yuan. If some of these unicorn enterprises can enjoy the successful listing of the IPO expressway, there is still much room for the valuation to rise.
Expert advice: support unicorn market, walking on two legs
According to reports, Li Daokui, member of the Chinese People's Political Consultative Conference, recently said that it supports Unicorns back to A-shares and is more realistic through the issuance of CDRs.
In an interview with the Beijing News reporter, financial commentator Zhu Bangling said that there will be a large number of high-quality companies entering the A-share market in the listing of A-share new-economy companies and unicorn companies, which will improve the capital market structure and change the traditional A-share listed companies At present, a large number of new economic companies in China also have such an urgent need to go public. The transformation of China's economic structure also needs to make changes in the capital market and support the new economic development from the allocation of resources.
Zhu Bangling believes that at present, so that unicorn companies listed in A shares as soon as possible, can take two legs to walk.One is to meet the current IPO standards unicorn IPO, such as Foxconn, Ningde era, etc. Second, let nonconformity The current IPO annotated corporate issue CDR - these unicorns may not meet profitability standards, the VIE structure is not removed, shares with different rights .A share IPO standards have not been modified, and modify the IPO standards involving the amendment of securities law, company law, needs a period of time.
Beijing News reporter Li Yunqi