Since Foxconn began this round of A-share unicorns, the capital market has become increasingly concerned about unicorns.
Numerous unicorn enterprises are also scratching their hands. Overseas listed companies such as BATJ have also expressed their willingness to return to A shares. Even Zahra Hou’s Wahaha has been cleansing a lot. Employees shareholdings, remove equity barriers for the listing - the number of shareholders before the company IPO can not exceed 200 rules.
In a recent research report, China Merchants Securities pointed out that the target of the “new economy” strategy for the current round of capital markets is relatively abundant. It is expected that there will be a gradual and gradual implementation of the steps. Currently, at least two major categories are included: The high-quality “new economy” enterprises that have achieved overseas listing are represented by BATJ. The second category is unlisted unicorn enterprises. According to statistics, there are more than 100 unicorn enterprises with valuations of more than US$1 billion and above. At least 34 companies are valued at more than 2 billion U.S. dollars.
However, among the domestic unlisted unicorn companies, the largest valuation is still the number of Huawei under non-rule. The latest report of the technology market research company IHS said that last year, Huawei’s telecommunications equipment market share increased from 25% in 2016 to 28 %, replacing Ericsson as the world's largest telecommunications equipment provider in 2017. In 2017, Huawei achieved sales revenue of approximately RMB 600 billion for the year, with an annual growth rate of approximately 15%, and a profit margin of approximately 11%, ie RMB 66 billion, compared to 2016 Huawei. Annual net profit of 37.052 billion yuan, net profit growth rate of up to 78%.
Some analysts pointed out that if there is a day in the future, Huawei will clean up employee stocks like Wahaha in an attempt to list on A-share IPOs. The market value is likely to be the first A-share or even Asian market capitalization. According to previous reports, the total employee dividends for 2017 in Huawei Or to reach 16.8 billion yuan, such cash dividends on the scale of A shares is also ranked first.
However, for a long time, Ren Zhengfei repeatedly stated that Huawei does not have a listing plan.
Huawei is an employee-owned company. According to China's previous 2016 earnings report, as of December 31, 2016, Huawei has 81,144 employees involved in the holding of shares. It is further huge. Such a large employee stock ownership strategy is the key to Ren Zhengfei’s efforts to integrate Huawei’s combat effectiveness and it is also a major obstacle to Huawei’s listing (the number of sponsor shareholders before the IPO of a company must not exceed 200).
On March 19th, China Merchants Securities, in a research report, judged that apart from the eight companies that had the first batch of pilot CDRs, recently, Xiaomi, Ant Financial, and the New World as the leading representatives of the new economy are also expected to have preferential access to institutional arrangements. According to the report, Huawei also intends to participate in the 'new economy' strategy of the current round of capital markets.
When the regulatory authorities called for the unicorn to be listed on the A-share market, and when the reform of the listing system was being studied, Huawei also began to consider the news of entering the capital market. It really made the outside world quite shocked.
However, according to Huawei’s internal stakeholders, it was reported to the “Securities Daily” reporter that never heard of this issue of listing may be a speculation in the capital market. Huawei still adheres to the idea of not going public before.