129756966828281250_17Hexun homepage established mobile phone version of the stock/fund market for micro-blogging news blog live small company stocks the major new share placements by gem new third sector brokers New York themesBulletin deal prompted the financial calendar of earnings release memo block trade in thousands of shares of financial market Center collection of funds flowing to new share purchase financing Twitter pioneer financial management training in the daily limit of the unit gather Forum hexun.com gem > body font size print RSSMarch 08, 2012 from: Oriental Morning Post, according to Xinhua News Agency, March 7 days ago in Shenzhen, Shenzhen officials said in an exclusive interview with Xinhua, delisting, the gem system programme changes have been the SFC approval, Shenzhen authorities are actively in the revision of the GEM listing rules relatingDelisting of chapters and articles, to be sure the end of March will be able to complete, then reported to the SFC approval, will be formally implemented. Industry experts believe that, in accordance with the system of delisting to be standard, delisting of the company two years may not be a gem, but delisting as a major indicator of the system events, valuations and investors to invest in the concept as a whole may gem goHave some effect. Temporary delisting the company as far as I understand, the gem, has consulted and modify the complete withdrawal of the gem system amendments to draft includes 6, which are two of the most-watched new delisting criteria: first, second board company in the last 36 months cumulative Exchange public censure of 3, its shares will be terminated; the secondCompany stock is gem appears 20 consecutive trading day closing price is lower than the nominal value per share, its shares will be terminated.
����At the same time of the gem will no longer enforce existing "delisting risk warning", a loss for three consecutive years will have a direct withdrawal. Some people in the industry questioned the delisting, the gem system too lenient, the operation is not strong. Strategy of central China Securities analyst Li JunbiaoAs shown in "3 years be exposed condemned 3" the conditions there is considerable difficulty in the implementation
diablo 3 gold, and a large game room. Small company and gem, low amount of shares, share prices are easily manipulated, "20 consecutive trading day closing price is lower than the nominal value per share" I am afraid that appears more difficult. Shenzhen Stock Exchange also said, the gem appeared in the short term share price is lower than the nominal valueIt is unlikely.
����However, Director of the British Institute of securities Li Daxiao think, delisting
tera gold, the gem system motherboard directly back to the main difference is that the city actually, was turned over by listed companies not salted fish a chance, this can give malicious speculation investors trash an alert. However, Wuhan University of science and technology, Director of the Institute of finance and securities said Dong Dengxin, estimated at two yearsGem delisting cases may not occur. He said huge Super gem can raise funds to ensure that does not appear in the next few years the company insolvent.
����In accordance with the delisting standards of the losses for three consecutive years, in order to appear the first delisting the company two years later. Shenzhen Stock Exchange data showed the latest, currently 291 gem company announced the 2011 yearAnnual results, no 1 home loss.
����Insiders said that even if there is a loss in the company, or by "account", avoiding losses for three consecutive years of delisting the red line. However, ping an securities chief strategist Wang Ren said that, can't see delisting system. When listing when conditions are very strict, delisting should be relatively liberal regime; listing conditions wWhen loose, delisting system should be more strictly. Shenzhen Stock Exchange: interests involved very complex listed companies in Shenzhen Stock Exchange General Manager Song Liping recently made a explains why difficult to cancel. She said that of delisting listed companies not only in matters involving trade unions and creditors, as well as local governments and departments, involving tens of thousands of investors ' vital interests, relationships are complex��
����Gem delisting system introduced as early as at the end of March this year, to coordinate and handle all kinds of complex relationships, protect the interests of small and medium-sized investors become concerned about hot spots. Country Yuan securities (000728, unit) analyst Liu Kan believed that gem once the delisting of the company, management is necessary to straighten out the relationships, including the issue of what creditors, investors�� Shenzhen Stock Exchange official said, should look at this problem in two ways, as when a dereliction of duty result in delisting listed companies because executives, investors can investigate withdrawal liability and claims for compensation. As a publicly traded company as macro-economic and industry factors result in losses, in the information disclosure of listed company law to fulfil the full obligations under Investor you will be liable to voteFunding to judge the results.
����Investors in particular gem, also note the gem company business models does not mature, risk-resistant ability of weak, large fluctuations in performance, easy to trigger a delisting criteria, establish the precedent of self-protection consciousness. Industry analysts believe that the delisting system of supporting measures should also be more refinement and specification. For example, in the corporate law and the law on securitiesWhen set, improve shareholder direct litigation and shareholder's representative action system, explicitly grant the investor protection fund to subrogation litigation subject qualification of the company. And recommendations in the formulation of the regulations of Securities Investor Protection Fund increased in the following provisions: for senior managers of large shareholder, actual control or delisting listed companies caused by illegal gem or other prejudice to the interests of listed companies,China investor protection fund, to take proceedings before a court, require substantial shareholder, actual control or compensation of senior managers. Overall valuation test after delisting, the gem system implemented, and other stocks had little impact on GEM?
����Expert perspective on this is different. Li Daxiao believes that gem is the market definitions for the currently highGrowth plates, high growth expectations are too high, their risk underestimated.
����After delisting system launch, the gem
diablo 3 power leveling, gem valuations will be lower. Dong Dengxin thought, the gem back system introduced in the main has two main effects: one is on board junk stock valuation "demonstration effect" because the Board delisting delisting systems experience gem system to design.Poor performance is on the second gem clearly oriented to stock valuation function. He said: "gem delisting system officially launched, would directly affect or broken boards refuse conventional valuation of the shares. Because if the insolvent delisting criteria, the gem, the motherboard there are at least 30 per cent of the company must immediately cancel. "Recommends that the shareholders as soon as possible away from the boards trash, notTake luck betting on boards of trash "fried shell restructuring". However, Dong Dengxin thought, delisting system of deterrence, the gem is fully released, first delisting companies such as need occurs, the short term effect on the gem will not be too great. Wang Ren argue that gem should be faster in fast out of the market, after the implementation of the withdrawal system, valuations, surely, is toTune. "From the perspective of developed markets abroad, local company valuations in the gem should be around twice times the Board. At present, after substantial callback, valuations are still domestic gem Board of 2.4 per cent. Delisting once the system is officially launched, valuations, the gem will certainly be affected. And in March or April there is a catalyst, is an annual report and a quarterPublished, many second board company performance is less than expected. Combination, will lead to valuations downward. "Wang Ren said.
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