For the first time, the New Third Board Company abandoned the “three+H” shares and turned to the Kechuang board.
On the evening of March 12, the new three board company Setters (832800.OC)announcementIt is said that it plans to go to the Kechuang Board to go public and terminate the company's application for the issuance of H shares and listing on the Hong Kong Stock Exchange.
There are 5 new three boards so farCompany AnnouncementIt is planned to land on the Science and Technology Board, and two of them will be transferred from A shares to Science and Technology Board.
In addition, the new three boards also have a number of potential targets for the science and technology board. On March 13, Peng Hai, head of the New Third Board research of Lianxun Securities, said that there are 428 companies that meet the criteria for listing on the board, but if they take into account the factors such as their industry and R&D capabilities, they will truly meet the requirements of the board. There are less than 20 three-board companies.
At present, the secondary stock market in the New Third Board has experienced the rush of the concept stocks of the quasi-technical board. Recently, the transaction prices of some enterprises have risen sharply. Some investors have created a wave of artificial quotation for the philatelic board. In this regard, a number of new three board people have made a risk warning when interviewed.
Repeated "track" sprinter
On the evening of March 12, Setters announced that the board of directors reviewed and approved the “Proposal on Initial Public Offering of A Shares and Listing on the Shanghai Stock Exchange”, and proposed to terminate the company’s issuance of H shares in Hong Kong. An application for listing on the Stock Exchange.
Information shows that Setters is mainlyTelecommunications operationBusiness, radio and television systems, government agencies, enterprises and individual household users provide information and communication solutions covering cloud, network and end.
Interestingly, with the changes in the hot spots in the capital market, Setters has repeatedly converted the runway. Now it is the turn of the science and technology board.
On March 29, 2013, Setters accepted the listing counseling and officially opened the road to listing. The target is the GEM IPO. Since then, the mainland IPO has been suspended and the Setters listing plan has been suspended.
In 2014, the new three boards were expanded. In July 2015, Setters turned to the New Third Board; on August 24, 2017, Setters once again accepted the listing guidance and restarted the A-share listing plan; in April 2018, the “Three+H” policy was opened. On October 29, 2018, Setters received a license from the Securities and Futures Commission to apply for an IPO in Hong Kong.
With the creation of the science and technology board, on March 12, 2019, Setters abandoned the H shares and turned to the Kechuang board.
Does the choice of Setters represent the attraction of the board is greater than the A shares and H shares? Before the move of Setters, Jin Dalai and Jiangsu Beiren also just announced that they would abandon the A-share IPO and turn to the Kechuang board.
On March 13, Peng Hai said that the three sectors are not positioned the same. The Hong Kong stock market review is not so strict, it is better to issue, but the valuation is not high in the mainland market. And now the science and technology board is hot.
On the same day, a new board member who is considering going to H-shares, motherboards, or Kechuang board told reporters: "The science board is a registration system, and the standards are not high. Everyone feels better. My boss thinks this way. ”
"BrokerIt is an expert. Which board is recommended for which board is easier for them, they are considering to avoid disadvantages. The brokerage believes that we should first put the business together.PerformanceWith that, which sector depends on the market situation. "The above three new board members said.
Cui Yanjun, the founder of Dong’s family and the secretary of the North and South (430066), said: “There is not a small number of imitating Setters’ changing lanes. The companies that are preparing for the GEM want to try the science and technology board.”
Cui Yanjun said that there will be sunk costs and time costs for changing the track. For example, the original Hong Kong stock brokers and audit fees are the time costs for the temporary change of head brokers.
Science and Technology Board potential stocks
At present, five new three-board companies have mentioned in the announcement that they intend to go public on the board, including Setters, Jiangsu Beiren (836084.OC), Vigor Electric (830965.OC), Jindalai (830777.OC). And the first three-dimensional (830978.OC).
So, do they meet the requirements of the science and technology board?
According to the current five major standards, five three-board companies that have announced that they want to go to Kechuang Board are not all in compliance with the standards.
“The first batch of companies with three boards is less likely, and Jin Dalai may be a dark horse,” said a senior new three board person.
According to the statistics of Lianxun Securities, there are 428 enterprises that meet the first four sets of standards of the Science and Technology Board, accounting for 4.11% of the total number of listed companies. Among them, 320 companies only meet the first set of listing standards. If they are screened according to the 2 times market value standard and 3 times the financial standard, 18 companies have more listing strength; among 428 companies, 320 companies that only meet the standard one are eliminated. After that, 60 of them are more likely to meet the listing criteria of the science and technology board; in addition, 8 of the new three boards meet the fifth set of listing standards. In addition, 46 of the three companies that have been delisted meet the criteria for listing on the board.
The science and technology board, which is getting closer and closer, disturbs the lake that has been quiet for a long time in the new three boards.
Zhou Yunnan, the founder of Nanshan Investment, said that the current situation of the quasi-technical board stocks in the secondary market of the new three boards has emerged. Recently, stocks such as the Western Superconductor, Beit Duan, Chengda Bio, and Atomic High-Tech have soared. Individual stocks actively added the quasi-technical board coat, and some investors from the IPO stamps of the first two years of the New Third Board once again set up a wave of artificially generated stocks.
"Investors are faced with the temptation of the science and technology board concept stocks, or they must be cautiously investing, rational analysis of investment targets, remember the lessons of IPO stamp collecting in the previous two years, in case they are also fooled by the pseudo-concept." Zhou Yunnan said.
(Article source: 21st Century Business Herald)