IPO "Lidongben", the issuing mechanism of new challenges

Finance Securities Commission economy main board

shangjie· 2017-11-08 10:48:49

pass five, IPO audit veto rate is unprecedented.

first financial reporter was informed that in November 7th, two of the trial meeting will be held, 6 enterprises will be in, only the spring and autumn electronic 1 will be over. "At this point, listed to climatic and geographical conditions, are indispensable. In addition, we need unprecedented luck. "An investment bank executive in Beijing said to the first financial reporter.

the first "big test committee" formal duties less than a month, IPO audit pass rate is only 56%.

read capital general manager Sun Jianbo to the first financial reporter said, at present the issuance examination committee strict quality control, this is responsible for the capital market attitude, worthy of recognition. In addition, strict audit actually also benefit from "Liyudiaolongmen" audit system to the registration system transition.

the first high rejection rate unprecedented fashenwei "official duties in less than a month, a total of 36 companies listed on the audit," Mengsui "enterprises reached 13, there are 3 suspension of voting, the rate was only 56%.

11 7 month trial will be held two days, a total of 6 audit companies, including nibilu Polytron Technologies Inc, Yunnan Shennong agricultural group Limited by Share Ltd, Shandong Glass Group Limited by Share Ltd, Suzhou spring electronic Polytron Technologies Inc (hereinafter referred to as the "spring and autumn, China Electronics) gold Limited by Share Ltd, Shanghai Jin and business management Limited by Share Ltd (hereinafter referred to as" Jin and business "). In the end, only 1 electronic clubs in the spring and Autumn period will be held.

"on the rules of the game is that in just 45 minutes from members of the establishment of the logical framework concerns. However, if the members themselves are concerned about the relatively large, and they are in the very period of "better to be wrong and not to be allowed to leave", it is really "non verbal initiative". "The investment bank executives told the first financial reporter," the current listing requires "unprecedented good luck."".

in fact, the first batch of seventeenth Audit Committee issued by the IPO results released in October 17th, the industry has already smelled the audit of the tight steering. Then the audit 5 companies 4 through 1, Huhua shares was not. The company's performance decline since 2015 has been growing rapidly in the last three months, and has been highly concerned by the panel members.

this is the first operation of the "grand Commission for examination and approval" since the issuance of the trial committee of the gem and the issuance of the examination committee of the main board. After the CSRC announced the audit agenda on October 13th, the market was highly concerned about the first audit and was optimistic. CSRC also attaches great importance to the audit of 5 enterprises, Guo Xudong, deputy director of the Distribution Department to participate in all. But surprisingly, one of the first audits was denied.

had told the first financial brokerage core reporters in the IPO project preparation stage did not change significantly, still adhere to the "good quality, less defects" the principle of project selection, a new member of the SIEVC attitude tighter, but the formation trend also need to read several times.

from the recent project audit situation, the strict trend has been very obvious. "All three in the morning are not," the Commissioner's hands are obviously tight. "The investment bank executives said to the first financial reporter.

for the current audit committee audit style, the enterprise will also have psychological preparation. On the afternoon of 7 before the results were announced, a company insider told the first financial reporter, because the listed company executives, many things are currently in the business, although there is no special requirements in the preparation of the material, but for the audit results there are still a lot of uncertainty. In the 6 enterprises that will be audited by

, Jin and commerce are "two checkpoints"". Prior to 2016, the thirty-fifth motherboard trial meeting was denied, after a lapse of more than a year, Kam and commercial re entry IPO. Kam and commerce were questioned mainly because of land use problems.

before the meeting, the industry is optimistic. Lawyer Chen Xuguang of Beijing Heng Heng Law Office believes that the two meeting of the enterprise is like the "college entrance examination repeat students", "through the previous experience can sum up the company's own problems.". According to previous experience, the two meeting of the company will certainly be fully prepared. Generally speaking, the possibility of passing two times is greater". Unfortunately, Kam and business crashed again.

is the only spring and autumn electronics company engaged in computer, communications and other electronic equipment manufacturing enterprises, the spring and autumn electronic products are mainly used in the notebook computer industry. The spring and autumn of 2014, 2015 and 2016, electronic 1~6 months of 2017 operating income was 1 billion 203 million yuan, 1 billion 275 million yuan, 1 billion 465 million yuan and 792 million yuan, the same period net profit after deduction of non attributable to owners of the parent company was 56 million 692 thousand and 100 yuan, 87 million 93 thousand and 700 yuan, 147 million yuan and 75 million 544 thousand and 800 yuan. According to its latest prospectus, 2014 and 2015, its asset liability ratio were 76.61% and 78.35%, nearly two years all decline, as of June 30, 2017, and the electronic asset liability ratio has dropped to 50.12%. Is it a good thing or a bad thing that the new mechanism of

dispute review is becoming more and more strict in

audit?

in the industry view, on the one hand, strict control is conducive to safeguarding investors' rights and interests, and promote the funds from empty to real; but on the other hand, the high rejection rate is also the loss of efficiency, is a waste of resources.

compared with the past, the seventeenth issuance examination committee is really special.

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