日韩精品久久一区二区三区_亚洲色图p_亚洲综合在线最大成人_国产中出在线观看_日韩免费_亚洲综合在线一区

Global EditionASIA 中文雙語(yǔ)Fran?ais
Business
Home / Business / Finance

ChiNext IPO reform excites VC companies

By CHAI HUA | China Daily | Updated: 2020-06-22 07:55
Share
Share - WeChat

Reform in the form of the registration-based initial public offering system on the ChiNext board of the Shenzhen Stock Exchange is expected to give the country's venture capital investment and entrepreneurship ecosystem a shot in the arm.

Venture capital firms and entrepreneurs were among those who bore the brunt of the coronavirus crisis.

Liu Suhua, chairman of investment firm Shenzhen HTI Group Co Ltd, said he believes both the nation's investment institutions and burgeoning firms will benefit from the reform.

He said the comprehensive reform will give full play to the market's influence on valuations and asset allocation, narrowing the gap of margins between the primary and secondary markets.

The goal of some venture capital firms in the past was a successful listing, which is like a final test, but he believes the profit margin of such a model would be remarkably contracted in the future.

"The strategy of pre-IPO focus on short-term arbitrage will be abandoned gradually by the market, while the sector ushers in a new stage of competing for the ability to evaluate firms by core and long-term development potential," he said.

Liu said he believes the reform in China's Nasdaq-style board of growth enterprises could also speed up the exit process substantially so that the financial pressure on venture capital firms could be lifted.

The registration-based system compresses the listing review period to three to six months and listing standards are much diversified, relaxing many requirements.

After the STAR Market of the Shanghai Stock Exchange first adopted the registration-based IPO system and opened in July last year, exit cases via IPO in the first quarter this year surged 57.3 percent year-on-year and accounted for more than 70 percent of all exit channels, said the latest report by Zero2IPO Research.

The impact is of additional importance as the venture capital investment market has been stagnant over the last couple of years, with the coronavirus outbreak aggravating woes.

According to Zero2IPO Research, both the number and the total size of new funds in China raised by venture capital diminished by half year-on-year in the first quarter of this year due to the epidemic.

Qiao Xudong, general manager of the research center at Shenzhen Capital Group Co Ltd, one of China's prominent venture capital firms, said the increase in the exit rate could push up the yield rate, attracting more social funds to venture capital.

Qiao said he believes the ChiNext board expands the exit channel for venture capital firms that poured their resources into companies in traditional industries that integrate novel technologies and new business models.

The unique focus distinguished itself from the STAR Market of the Shanghai Stock Exchange, which prefers applicants from emerging industries, and opens listing channels for a more diversified pool of firms, so a wider range of investment projects could choose the IPO exit channel, he said.

Ding Lieming, chairman of listed company Betta Pharmaceuticals Co Ltd, spoke from his own experience that the medical enterprises that used to be blocked due to the high standards for listing, could now land on the ChiNext board, to further their progress in research and innovation.

Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
CLOSE
 
主站蜘蛛池模板: 不卡视频一区二区 | 久久瑟 | 久久精品视 | 国产成人av一区二区三区 | 免费观看成年的网站 | 国产91成人精品亚洲精品 | 亚洲精品午夜在线观看 | 欧美一区二区三区四区五区 | 香港三级日本三级韩国三级韩 | 欧美精品第二页 | 97精品超碰一区二区三区 | 欧美一级片在线看 | 国产亚洲精品久久久久久久久动漫 | 亚洲一级在线 | jzzjlzz亚洲乱熟在线播放 | 国产成人综合在线观看网站 | 国产a级一级久久毛片 | 欧美激情视频二区三区 | 免费在线日韩 | 首页亚洲国产丝袜长腿综合 | 久草热线视频 | 黄色片免费在线播放 | 午夜剧场操一操 | 色综合视频在线观看 | 操人视频 | 国产在线激情 | 一级毛片ab片高清毛片 | 波多野结衣在线高清视频 | 日本高清免费不卡在线播放 | 国产淫视| 丝袜美腿精品一区二区三 | 久久久www成人免费精品 | 国产中文字幕在线观看 | 久久日韩在线 | 午夜爽爽性刺激一区二区视频 | 欧美午夜视频 | 魏千翔| 欧美综合成人 | 成人免费久久精品国产片久久影院 | 碰超丶在线免费 | 精品一卡2卡三卡4卡免费视频 |