IPO Of 31 GEM Companies Is Not &Nbsp; Profitability Is The Key.

Plus the gold technology that was not available in June 28th, from September last year, the securities and Futures Commission Gem After accepting the first listing application, 31 companies failed to pass the SFC audit and were blocked outside the gate of the gem. Profitability is not outstanding, the main body is not independent, equity is unstable, and lack of core technology is the main reason why these companies are listed.

Data show that as of yesterday, the SFC Gem The Commission has audited 154 listed companies, 120 of which were listed, 31 companies were not approved, and 3 companies were canceled. Of the 120 companies that have been listed, 89 have been listed, 28 are queuing up for listing, and 3 are being issued.

The first one that failed to pass the audit was pan Neng technology. The company's position in the industry was not outstanding. Compared with its counterparts such as Guodian, Guodian, NR and so on, the company's competitiveness was generally low, and the company's profitability was insufficient. Net profit in 2008 was negative. Recently, there has been a lack of profitability in Jin Neng technology. The net profit of the company has been less than 20 million yuan in the past three years. The gross profit margin of the industrial explosive production technology and equipment of its core competitive advantage has decreased by 52.69%, 41.35% and 30.07% in the past three years.

Profitability is the most important reason for the rejection of the application. Tongji Tongjie, Sai Lun, Jia Chuang, Hai Lian, Qi Qing Chen, Hengda high tech and other companies were rejected by the panel for lack of continuous profitability.

In addition to examining profitability, it is also important to examine whether the independence of listed companies, whether equity is stable or not. The following companies are mostly related to the above reasons: there is a lot of related transactions between Andy logistics group and the United States group, and its executives are also selected by the American group. The space animals that are engaged in health care products need to take advantage of the R & D platform of the controlling shareholders to achieve core R & D work. The main R & D personnel are also part-time by the latter researchers; there is a shareholding structure in Tongji Tongjie; three, the actual controller of the British welding industry has changed; Yintai technology has a large number of financial transactions with the controlling shareholders, and is considered to be defective in fund management.

In addition, whether the fund-raising is necessary and the prospect of fund-raising projects is also an important factor considered by the Commission. The Commission encourages enterprises in new energy, new materials, energy conservation and environmental protection, while industries which are explicitly suppressed by public utilities, transportation and national industrial policies are not encouraged. The encouraged industry companies are easily tripped if they have problems in patent technology. Despite the fact that Suzhou has been issued for a long time, all the 5 patents disclosed in the prospectus and declaration documents and 2 legal status of patent applications are inconsistent with the facts. They were eventually revoked, and the new materials that were put on the market due to patent disputes were only allowed to go public after the litigation and settlement. Many GEM companies claim to possess proprietary technology, but their patent gold content has been questioned. Despite the core technology, Hai Lian news is not prominent in core technology, but sales of core technology products are only 10%.