Zhejiang Daily Observation 丨 The first anniversary of the establishment of the Peking Stock Exchange has gained geometry?

Zhejiang News Client reporter Zhu Cheng

On September 3, the Beijing Stock Exchange was established for one anniversary, and there were 110 listed companies, with a total market value of nearly 200 billion yuan.

Some people say that so far, a small and medium -sized enterprise listed development path with distinctive characteristics has been initially formed. Data show that the current Supervisor of the Beijing Stock Exchange is 70 % of SMEs, with an average of 210 million yuan in public offering and financing. Some people also say that the Bei Stock Exchange is currently weak and has low valuation. Since the beginning of this year, the Beijing Stock Exchange has encountered a "breaking wave", and the break rate of new shares has reached 80%to 90%.

What changes did the Beijing Stock Exchange coexist in surprise and troubles?

Choice of corporate

Do you want to go to the Beijing Stock Exchange? This is a choice question facing Zhejiang enterprises. For Zhao Guomin, the chairman of Guangmai Technology, the decision was right in November last year.

"If the Shanghai -Shenzhen market is compared to the air -conditioned bus, the Beijing Stock Exchange may be a large truck. As long as you can take the enterprise into the right track and reach the destination, it is a good car." Zhao Guomin said.

After the "get on the car" of the Bei Stock Exchange, Guangmai Technology has accelerated the development: the introduction of high -end teams, opening the construction of Guangmai Building, and repurchase some equity to motivate employees ... Zhao Guomin said that the brand awareness, policies, and credit brought by listing Internal stability and other dividends are difficult to reach before listing.

Langhong Technology and Tianming Technology, a domestic electronic equipment anti -theft display product subdivision occupied half of the country. The other is the domestic off -road twisting leader. Talking about the feelings of this listing, the heads of the two companies mentioned the word -efficient. Unlike the long -term listing of the Shanghai and Shenzhen Exchange for more than a year, it took only 97 days from the submission of the application materials to the issuance of the application materials.

There are also enterprises who are dissatisfied with the soil and water. A industry insider engaged in listed services revealed that some companies have said that they have "disappointment" -the Bei Stock Exchange is not liquid and the stock premiums are small. Essence

At present, the Beijing Stock Exchange market has initially achieved the gathering of high -quality enterprises. The total market value of 110 listed companies was nearly 200 billion yuan, and strategic emerging industries, advanced manufacturing and other companies accounted for more than 80%, with an average RMB 4.6%, which was 3.3 times that of enterprises above designated size.

More and more high -quality companies are pouring to the Bei Stock Exchange. It is understood that there are currently more than 400 companies that are being reviewed or taught. Among the 115 application enterprises accepted by the Beijing Stock Exchange in the first half of the year, more than 40%of the net profit of more than 40%of enterprises exceeded 50 million yuan.

Growth trouble

The data shows that the current daily turnover rate of the Peking Stock Exchange is 2.03, which is lower than the science and technology board (4.76), the GEM (5.46) and the motherboard (2.74). There is also a certain gap between the price -earnings ratio. CSI market.

In this regard, many experts believe that this is the "trouble of growth" of the Beijing Stock Exchange because of many reasons.

An industry insider analyzed that the Beijing Stock Exchange was not established for a long time. On the one hand, the investor's ecology was not yet sound, and the market had a reservation attitude towards it. In addition, some enterprises have not fully demonstrated their own value.

The analysis of Qian Shui and Water, the dean of Zhejiang University of Technology and Commerce's MBA College. Most of the landing in the Bei Stock Exchange is small and medium -sized enterprises. The development of uncertainty and market attention will be affected. However, the deeper reasons come from the economic environment. "In the first half of this year Growth pressure has intensified, and the short -term capital market lacks sufficient expectations and confidence. The Bei Stock Exchange that grows up in such an environment is really not easy. "

How to deal with it? Qian and water believe that if necessary, the system should be appropriately changed. For example, drawing on mature capital markets abroad, introducing a mixed -based marketing system, shorting, etc., and other trading mechanisms that can hedge risks, encourage and support social security, insurance, pensions and other medium and long -term funds to enter the market, attracting more investors to enter.

Zhang Qicheng, chairman of Caitong Securities, believes that from the current efficiency of the North Stock Exchange, the number of listed companies has grown from more than 100 small and medium -sized enterprises to 500 to 600. With expansion, liquidity will also increase. "As the youngest exchange market in China, there is still a lot of room for growth in the market capacity of the Beijing Stock Exchange. It is necessary to cultivate more investors suitable for this market." Zhang Qicheng said.

Zhejiang with thick accumulation

At present, the first echelons of the Bei Stock Exchange are 19 Jiangsu Province, 14 Guangdong Province, and 11 in Beijing and Shandong Province. Zhejiang, a large capital province, ranked fifth in Zhejiang, with 9.

Fifth place, it is really surprising. Over the years, Zhejiang's new "little giant" enterprises have been far ahead of the country. Several experts believe that this structural difference may be because Zhejiang's capital market is relatively mature, and the number of new listed companies has ranked among the top three in the country for many years. Therefore, many Zhejiang companies choose to wait and wait for the Bei Stock Exchange, which are just established.

"But in the long run, Zhejiang's strength is full of strength." Zhang Qicheng said. Since the establishment of the Beibei Stock Exchange, Caitong Securities has successfully counted a number of Zhejiang enterprises to list, ranking first in the province.

At present, the Zhejiang enterprises of the Bei Stock Exchange are quite distinctive. According to statistics, eight of the nine listed companies are manufacturing companies, of which the machinery and equipment manufacturing and power equipment manufacturing enterprises are mostly highlighted, highlighting the characteristics of Zhejiang's manufacturing province.

From the perspective of counseling data, Zhejiang enterprises have also caught up.According to statistics from the Zhejiang Securities Regulatory Bureau, as of the end of August, Zhejiang Province had a total of 50 companies to be declared by the North Stock Exchange, ranking second in the country.The various actions of the Bei Stock Exchange have been carried out one after another: at the end of last year, the Zhejiang Provincial Government General Office issued the "Implementation Plan for the Zhejiang Innovation Pilot of the Regional Equity Market", and set up a "special specialty new board" in the regional equity market and established "special specialty" and ""Special boards to multi -layer "listing mechanisms, and set up the North Stock Exchange Zhejiang service base in Hangzhou to tap and cultivate the resources of listed reserve corporate enterprises.In order to provide convenience and acceptance, the Zhejiang Securities Regulatory Bureau has set up a special channel for the Beijing Stock Exchange.Governments of various local governments have also incorporated the North Stock Exchange into the Northern Stock Exchange in terms of market cultivation and promotion, fiscal policy awards, and work incentive assessment.

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