LED for IPO can keep the enterprise out?

IPO capital market is full of temptation and wait, looking ahead, LED enterprise capital market to seek listing of feudal lords vying for the throne. During the period, some people succeed, some people fail, and some people have been waiting and wandering in the IPO long sprint runway.

Today, the domestic semiconductor lighting industry scale has reached about two hundred billion yuan, nearly LED related listed companies, the output value of the industry accounted for half of the country". In these listed companies, the results are listed after all the way to run a good development, there are negative news companies continued, mediocre performance, there is no difference before and after the listing. Ask, LED companies really need to market it? Can endure a long wait, keep IPO flowers.

IPO restart full preparation

Since February this year, the Commission suspended for nearly 4 months of A shares IPO, since the beginning of the year in June 18th to restart the second. For LED companies, a new round of IPO floodgates are both happy and sad.

In May 16th, Chinese Commission formally issued the revised "IPO and listing on the gem management approach" and "the new formulation of the issuance of securities companies listed on GEM Interim Measures", and on the date of promulgation. Once plagued GEM listed companies refinancing problems finally resolved at the policy level.

The implementation of the new approach will be a large number of economic environment and market fluctuations, can not reach two consecutive years of profitability of LED companies landing gem, through IPO to raise funds to accelerate the development of paving the way. In addition, the Commission recently revised the initial public offering and listing on the gem interim measures, appropriate to reduce the first entry of financial indicators, the abolition of sustained growth requirements, simplifying the conditions of issue. The introduction of this standard, aroused a new round of LED companies listed boom.

According to the latest disclosure of the Commission of the IPO audit schedule shows that the gem add inventronics (Hangzhou) accepted the Commission in July to become the only accepted new IPO application, bring a little joy to the listing of LED. As of July 31st, the Commission accepted and pre disclosure starting to 626 companies, including OPPLE, ocean King lighting, lighting, Linsen, Yuan Hui Di photoelectric photoelectric, click LED lighting materials supporting enterprises and enterprises are actively preparing for IPO.

Although some enterprises are in the process of preparing for the suspension of the audit, but still conceal LED enterprises listed enthusiasm. CSA Consulting Director Wang Binqiu said: there are a lot of LED companies are their own initiative to withdraw IPO applications, because in view of the Commission's new policy, the need for their own verification, some companies need to add some materials. "

Wu Yiming, Secretary of the board of OPPLE lighting has told the media that OPPLE lighting is indeed suspended IPO. But this is normal, there are more than and 500 listed companies have encountered such a situation. "The explanation, after the listing of OPPLE lighting materials, reported 2013 results, these results to the end of June this year will expire.

Because the performance of face appeared newly listed companies in the phenomenon that the SFC is one of shock, at the beginning of last year to restart the IPO process, the financial review is particularly interesting, because the financial verification lasted for a long time, check the contents, known as "the history of the most stringent IPO financial verification".

At the end of May this year the Commission to study the "State Council opinions on further promoting the healthy development of the capital market" (i.e. new country nine) work session, the Commission Chairman Xiao Gang has clearly stated, "to stabilize market expectations, from June to the end of the year, plans to issue about 100 IPOs, and a monthly listing of the general equilibrium issue".

Beijing a broker said, "the recent slowdown in the actual shares Audit Commission, on the one hand can feel the regulators intend to control the number of new shares to declare, but the main reason is that most enterprises need to update the financial information. "

It is understood that this supplementary earnings time requirement is 6+1, that is, the financial information in 7 months, after a month to fill the earnings report is effective. If the November meeting of the Commission before the issuance of the approval can not be issued, these will not be approved in April issued by the company on the need to supplement earnings.

"The earnings update and the first declaration differed, because it only needs to update the data set, without the need to re organize the framework report, bubao speed is relatively much faster. And the active cancellation enterprise since the termination of the review date, if within a year to apply for the IPO, according to the relevant requirements still need to perform self finance special inspection obligations, in the declaration of IPO application materials should be submitted at the same time the financial self inspection report. Commission for such enterprises to apply for the special inspection to determine the way to spot checks. Wang Binqiu added.

Long waiting for the flowers

In September, LED IPO of the plot as the enterprise running after the beginning of autumn weather is a bit cool, a little hot.

Because the Commission in order to regulate the financial market, a new policy to prepare for the IPO more difficult, really poured a bucket of cold water on the original heart. Although, so many LED companies suspend review, but it is difficult to prevent the enthusiasm of listed companies LED.

In July, Shenzhen city aibisen Au Optronics Co after 8 years of fighting the end of a long wait, finally a wish of success in the Shenzhen Stock Exchange gem, issue 21 million 60 thousand shares, the total issued share capital of 84 million 220 thousand shares.

Abby chairman Ding Yanhui in the company listed cocktail party "perfidy", "got the approval of the commission from the China SFC Fashen of the audit committee, a full two years later in 2010;