IPO queue companies are in a dilemma! In the early hours of this morning, the four major news were fully fermented (217）！
First, the combination starts again. Starting from Chinese New Year's Eve, some employees who violated the rules were fined 1.73 million yuan, and then securities executives made illegal profits of more than 60 million yuan and were fined 1100 million yuan, and then the accounting firm was fined.
Beginners won't feel anything about these three points, but veterans will naturally feel the difference. In the past, the more you do, the less you are fined, and you earn tens of millions of dollars through illegal means, but you end up being fined tens of millions or even millions. But now, the less you earn, the more you are penalized. It was public companies that were punished before, and now all stakeholders are punished.
Second, the current appeal of IPO applications means that you don't ask yourself "I have a problem".
If the application is not withdrawn, once it has been selected for the on-site review, the problem cannot be covered and the penalties should be more severe. The investigation of a brokerage vice president during the Chinese New Year began in February 2005, which means that the violations date back at least 15 years. I think there is a possibility that even listed companies are afraid of this intensity, will they re-look at the past IPO materials and go to the listed company for on-site verification?
Third, the bailout cannot be solved by technical means such as suspending IPOs, and real money may be required, and the measures must be swift and strict to be effective.
Pausing an IPO is really a bad idea, because after the pause, the market has not recovered at all, and it has even accelerated**. In the short term, after the loophole is closed, we still need to protect the market with real money**, and we need to act quickly and cautiously, which we have seen before, and hopefully see a series of measures introduced in the future. Holiday bailouts dragged down the market. After stabilizing the market, if you want long-term healthy development, you need to improve governance and investor education, otherwise the marketing tools launched will not only not stabilize the market, but will cause more problems in the market
Fourth, more than 300 companies sought to withdraw their IPO applications overnight. Although there is no official report, I think this rumor is very plausible and not exaggerated at all! Because the China Securities Regulatory Commission has really taken action recently, the punishment for Shanghai Silxin's financial fraud is so severe that enterprises and institutions are afraid. This time, it's hard to fool them!
More than 300 companies are just the reaction of those companies with serious problems, there are certainly many companies that are lucky, I estimate that almost 50% of IPO companies think they are not qualified and want to cut a leek, but they did not expect it to be fake. It doesn't work anymore. The application submitted more than a year ago cannot be changed even if I want to. Companies and brokerages are scared, it must be true! If the company fails to do so, it may be fined and go bankrupt.