Characteristics Of Listed High-Tech Enterprises

The company's valuation is based on the P / E ratio.

Suppose that companies earn more than 1 yuan, such as the market earnings ratio is 10 times, the market value will increase by 10 yuan, and the issuance of 25% new shares can raise more than 2.5 yuan. If the price earnings ratio is 12 times, the market value will increase by 12 yuan, and in the same circumstances, it can raise more than 3 yuan.

Some customers have asked me what way to pack the best. What should the company do before listing to increase the future fund-raising quota?

I generally suggest that the company adopt a pragmatic attitude and enhance research with the production department.

Research and develop customer resources with sales department.

Often after investigation, it is found that it is only an ordinary factory, but not a high-tech enterprise at all.

The growth rate is high, the gross profit is high, and the selling cost is low.

There is a big difference between factories and high-tech companies. Factories can only earn meager gross profit and need to support profits with large quantities. Hi-tech enterprises have high value-added components and use software or technology to meet customer requirements.

In principle, the factory mainly competes with its competitors in terms of price, compresses costs, and makes money in the form of small profits but quick turnover. High tech companies compete mainly in product technology, functions and services, and will not make money by small profits but quick turnover.

For example, Microsoft's gross margin can be as high as 80%.

If the enterprise only uses some expired open technology, that is, other factories can also use these technologies, and there is no limit for competitors to enter the market.

But if an enterprise deliberately buys some licenses and copyrights of so-called new technologies before listing, investors must pay attention that these costs may be amortized in future profits, indirectly reducing the amount of fund-raising.

On the contrary, 2G companies did not apply for 3G licences, but their share prices increased.

The R & D cost will be high, and a lot of research and development will be needed to improve the company's product technology to support the continuous development of business.

Some R & D fees can be amortized for a fraction of a year, and have less impact on earnings. However, some R & D fees can not be amortized, which will have a greater impact on the profit and loss statement of the current year.

If these R & D fees are not properly arranged, the R & D fee will have a fatal impact on the profit and loss account.

As the value-added components of products are relatively high, they are not operated by large quantities of stock.

Moreover, products should also be matched with distribution agents. Sometimes products have to meet the unique requirements of customers, which makes the inventory of high-tech products not too high.

The time required for products or services from production, delivery, acceptance, training, testing, application, maintenance and maintenance to each other will be longer than that of the general factory products. Therefore, the general payment period will also be paid in a phased way. The accounts receivable period is generally longer than that of the factory.

High tech companies generally rely on people's intellectual property rights and technology, and do not need large quantities of production equipment and machinery as the general factories. Therefore, the fixed assets such as land and equipment are generally less. If necessary, they are usually leased to reduce unnecessary investment costs.

Investors operate accordingly, at risk.

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