Today, at the 5th World Internet Conference “Financial Capital and Internet Technology Innovation” sub-forum, Fang Xinghai, vice chairman of the China Securities Regulatory Commission, said: The science and technology board and the registration system must be made! It attracted a round of applause from the scene. Whether it is a science and technology board or a registration system, it will definitely bring about tremendous changes in the ecology of China's stock market, and more technology innovation companies will be able to successfully go public.
What impact will the launch of Kechuang board have on the market? First of all, from the overall market, the launch of the science and technology board will increase the stock supply of the entire market, and need more funds, so obviously it is bad for the whole market, and how the registration system is implemented, how is the price of the issue determined? Therefore, the market is full of uncertainty about the judgment of the science and technology board. For the uncertainty, the market must choose to vote with the foot, first go first, so this is also an important reason for the market to fall.
In fact, the impact on the market is actually not so big. The current market is in a very low position. If the market itself is very high valuation, then the introduction of the registration system will have a significant impact on the market valuation. As a result, the entire market began to fall due to the switching of valuations, but this is not the case now, but the valuation itself is very low, and there is no way to fall, even the most affected GEM, the valuation itself is already quite low. The possibility of a big fall is very small. It should be said that the impact on the market now is more psychological, not substantive.
If there are some companies that must be listed, then whether it is a board-based board, a GEM or a motherboard, there is not much difference in itself. The registration system is indeed a new thing, even if there is no direct registration system, In essence, there is little difference. After two years of crazy IPO, the current listing interval is very small. In essence, it is also a disguised registration system, but the names are different.
Of course, if the impact is the biggest, it is still the value of the shell. In the A-share market, speculation and speculation has always been a reality. The value of shell resources has always been one of the value of listed companies, but with the registration system Launched, this value will disappear completely into zero.
From the perspective of the enterprise, as long as the company continues to operate and the income and profits continue to increase, the value of the enterprise will increase, and the stock price will rise. This has nothing special to do with the registration system, and it has nothing to do with the science and technology board. Relationships are only related to the company. This is also the original intention of our investment. As long as the company continues to be excellent, the stock price rise is only a matter of time. (Investment Express)
(Article source: Voice of Zhejiang)