More Than 100 Executives Of Gem Are Crazy To Cash In On &Nbsp;

High issue price and high P / E ratio.

At the same time, as a result of GEM companies

The sad thing is that some retail investors are suffering from quilts and meat cutting.

Crazy overnight riches

Many gem shareholders have increased sharply after listing, and brokerages and investment banks have received a lot of money, and venture capital agencies have also got a share from this feast.

According to the issue price, a total of 74 billionaires were born when the first 28 GEM companies were listed, of which 4 were over 1 billion.

As of May 25th, the first 20 companies in the first batch of GEM companies held the stock market value of 49 billion 781 million yuan.

"Agencies and retail investors are happy to take the initiative. This kind of heat has made executives of listed companies on GEM become rich overnight."

Zhang Lan, an analyst at Qing Ke research center.

According to Shanghai Rong Zheng investment consulting data, as at the end of last year, the average chairman of the board was 1 billion 180 million yuan, and the average figure of the general manager and deputy general manager was 448 million yuan and 140 million yuan respectively.

At the same time, executives, sponsors, "appearance" frequently appeared in the gem banquet, 130 GEM companies also emerged "venture capital" figure.

According to the statistics of Shenzhen Venture Capital Association, as of last October, 130 GEM companies reached 96, accounting for 73.85% of the total GEM companies.

According to media reports, Shenzhen venture capital organization, as the most active venture capital in the early stage, has the largest share in GEM companies.

The most typical example is Shenzhen innovation investment group, which has invested in 8 GEM companies listed in the 8 GEM companies including Tsing Po, Zhongke electric [19.42 -1.17% shares, when the technology [14.41 1.48% shares, and LETV [23.13 0.65% shares]. The market value of 8 companies has exceeded 1 billion 300 million yuan.

"When the small and medium sized boards were listed, they were also fired at the beginning, but the value of most stocks was not enough to support the high market value. The long way out of some stocks lasted for two years."

Zhang Lan has predicted that the high price earnings ratio of gem and the new heat of investors will inevitably lead to the future stock price pullback.

Surging executive reduction

The sharp increase in property in that year was nothing but book wealth. After the lifting of the restricted shares, the executives and shareholders of the GEM board chose to reduce their holdings.

By Zhang Lan Yan, a year and a half later, GEM companies broke out.

This is followed by the sharp reduction of executives after the lifting of restrictions on the sale of shares.

The data disclosed by the Shenzhen Stock Exchange show that since the beginning of this year, 65 GEM companies have been reduced by 105 executives, holding a total of 162 times, with a reduction of nearly 1 billion 300 million yuan.

Among them, Netac technology [21.20 1.44% stock bar) was reduced by 24 executives in 9 months in just 4 months.

Le Pu medical [20.18 0.30% stock bar] General Manager Pu Zhongjie has become the pioneer of the gem.

In March 23rd this year, Pu Zhongjie, general manager of Le Pu, reduced 15 million shares through a block trade, and the amount of cash in circulation reached 373 million yuan.

"In general, the value of money will increase, and the value will be reduced if it is overvalued."

Li Daxiao, director of the British Securities Research Institute, told reporters that executives' frequent holdings showed that the stock value of GEM companies is still overvalued.

According to the data of Qing Dynasty, as of October 2010, the price earnings ratio of the gem is 68 times, which is 87.1% higher than that of the Shenzhen motherboard, which is 36 times earnings.

A securities trader said, "executives feel that the stock price is high enough to sell quickly.

Some executives start from scratch, and when they earn money, they first think of cash.

The source said that many of the companies listed on the gem were listed on the assault package, which showed that the performance of these companies was not sustainable.

"At present, it is becoming more and more difficult to raise funds for small and medium-sized enterprises when they enter the interest rate raising cycle. If they do not get the money, they will think of the money in the hands of investors."

Li Daxiao thinks, at present gem stock is still in the state of being overestimated, so gem gem executives will continue to reduce the future, investors must be alert to the risks.

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Miserable retail investors

The results of the package have been filled this year. Executives and shareholders have been reduced, and the share price has collapsed, and retail investors are hurt.

The massive reduction of executives has made investors miserable.

Le Pu medical [20.18 0.30% shares bar, after Pu Zhong Jie reduced, the stock price fell to 21.11 yuan all the way, has created the new low since the listing.

A retail investor told reporters, "this year bought 10 hands Dongfang Risheng [22.53 4.06% shares], 70 yuan to buy, 81 yuan did not sell, now has fallen to 21 Yuan nearby."

Yesterday, the closing price of Dongfang sunrise was 21.65 yuan.

At that price, the investor lost about 48 thousand yuan.

"[14.26 0.71% shares of Everbright Securities," a customer manager said. "My clients invested in the gem last year, and no matter which stocks they invest, they basically make money.

This year is not profitable. This year's situation is not ideal. "

Since July last year, the Shanghai and Shenzhen two cities have soared, and the gem [833.35 0.29%] number has also risen from the lowest 832 points in July to 1239 points in December.

Since the beginning of this year, the growth enterprise market has been on the decline. As of May 23rd, the gem index closed at 840.9 points, and has fallen by nearly 30%.

Wen Guoqing, deputy general manager of Lian Xin securities, said, "GEM companies have been overpacking and making false achievements before listing, so this is the common trick of last year's GEM companies.

This year's performance will not cover up, and it will fall down.

According to statistics from the Qing Dynasty, as of May 18th, 150 of the 218 GEM stocks have already broken down and the proportion of breakage is as high as 70%.

Among them, 24 of the 28 initial stocks fell below the issue price.

The decline and breakout of the growth enterprise market is mainly due to the high valuation of IPO.

Many companies on GEM this year have been reported, indicating that some companies in gem are more or less in question.

One industry insider said that the listing requirements of the gem are much lower than that of the motherboard, which can cover many problems through financial operations. When these problems are exposed, the most injured ones must be retail investors.

Reduction case

Lok medical general manager cash in 370 million

The price of Le Pu medical is 29 yuan / share, and the price earnings ratio is 59.6 times.

The listing notice shows that Pu Zhongjie, the director and general manager of the company, holds 60 million 436 thousand and 700 shares, accounting for 14.89% of the total share capital, ranking the fourth largest shareholder of the company, and the first natural shareholder.

According to the issue price, Pu Zhongjie's body was up to 1 billion 753 million yuan a night, becoming the richest of the first GEM listed companies.

Le Pu medical listed on the first day of 61 yuan to open sharply, the opening price rose 110.34%, the first day to close at 63.4 yuan, up 118.62%.

Pu Zhongjie's fortunes also rose. As of the first day's closing, Pu Zhongjie's worth was 3 billion 830 million yuan.

Le Pu medical 2009 annual report shows that the company intends to increase 10 shares in every 10 shares for 2.5 yuan, and Pu Zhongjie only has a cash dividend of 150 million yuan.

In March 23rd this year, Pu Zhongjie, general manager of Le Pu, reduced 15 million shares through a block trade, and the amount of cash in circulation reached 373 million yuan.

The general manager's massive reduction in cash cut led to a drop in the company's stock from $27.2 to 21.11 yuan, a new low since the closing of the market in May 20th.

Huayi shareholders cash in scale nearly 1 billion

"China's first entertainment" Huayi Brothers [14.81 2.28% shares] shareholders are quite luxurious, except Wang Zhongjun and Wang Zhonglei two brothers, Ma Yun, Jiangnan Chun and other business tycoons, Feng Xiaogang, Zhang Jizhong and other stars are on the list.

According to statistics, as of the end of the first quarter of this year, Tan Zhi, the chairman of the board of supervisors of Huayi Brothers, had 10 times to reduce Huayi Brothers, reducing the total amount to 7 million 200 thousand shares, and the amount of cash in circulation was more than 200 million yuan. Huayi brothers director Yu Feng mother Wang Yulian held a total of 31 times, accumulatively reduced 5 million 258 thousand and 100 shares and nearly 150 million yuan in cash in the first half of the year.

Huayi Brothers executives and their relatives reduced their holdings to 15 million 478 thousand and 100 shares and cash 460 million yuan.

Huayi Brothers latest announcement shows that Ma Yun, Yu Feng, Jiangnan Chun, Gao Min, Wang Yulian 5 shareholders in May 6th through the block trading platform to 16 yuan / share price respectively reduce company stock 11 million 91 thousand and 600 shares, 4 million 458 thousand and 600 shares, 2 million 700 thousand shares, 5 million 949 thousand and 800 shares, 3 million 600 thousand shares, the total paction amount is 445 million yuan.

So far, the Huayi Brothers have been close to 1 billion yuan by executives and major shareholders.