The "504" Billionaire &Nbsp Was Created, And The Gem Policy Was Alleged To Be Leaks.

After half a year, the gem reappears the first day of the new stock breaking.

Opening 1 minutes break

On the gem, a new first day break was listed on the National League Fisheries (300094, stock bar) listed in July 8, 2010.

Just half a year ago, anjubao took the baton.

In January 7th, the listing price of anjubao was 49 yuan / share, corresponding to the P / E ratio of 69.01 times.

Last Friday, the opening price was 49 yuan, unchanged from the issue price. When it opened to 49.30 yuan, it turned down and opened the market only 1 minutes later.

According to the closing price, the 8 agencies involved in the purchase of the new shares, CICC and Huaxia advantage, together amount to more than 4 million yuan.

In fact, recently, the hype of IPO has not gone crazy in the past. Recently, the first day's gains of gem's power (300153, stock bar) and Ruiling stock (300154, stock bar) were only 1.95% and 3.12%, respectively, and the power of the next day was also broken.

Breaking can inhibit "three high"

For the breakup of anjubao, market participants generally believe that it is too high.

Delisting system as soon as possible

Although the SFC thinks that breaking new shares is good for restraining "three high", it is not willing to buy the account. "Since we all know that it is not reliable, why did we check and approve the issue through the market?" is it true that when we disperse the market, we are going to be cannon fodder and we try to make mistakes? "

Wu Xiaoqiu, director of the Institute of Finance and securities of Renmin University, also said that the high price earnings ratio of the growth enterprise market is not sustainable. Behind it, investors have a dreamlike expectation of the growth enterprise market. Most of this dreamy expectation will eventually be destroyed, so there is great risk.

In addition, Wu Xiaoqiu also believes that the delisting mechanism is one of the core rules of the gem. Without an efficient delisting mechanism, the gem will not succeed, which is the basic premise of it.

"Making" 504 billionaires

Statistics show that as of January 7th, a total of 158 enterprises listed on GEM.

By the end of last year, a total of 116 billion 750 million yuan had been raised by listed companies, with a total market value of 736 billion 500 million yuan.

Liu Jipeng, director of the capital center of China University of Political Science and Law, said that according to his statistics, the average price earnings ratio of the 158 enterprises was 70 times, and the average issue price was 35 yuan. According to the plan, each enterprise only needed to raise 250 million capital, resulting in an average raise of 770 million, the highest issue price earnings ratio of 151 times, and the highest issue price of 110 yuan. 158 of the 142 households were family businesses and created 504 billionaires. Liu Jipeng thought that the rapid growth of the gem did not ignite the entrepreneurial passion, but instead destroyed the entrepreneurial passion. He believed that the current gem policy had great loopholes, which might lay hidden trouble for the healthy development of the capital market in the future.