Jiaxin Silk Broke Its &Nbsp On The First Day, And More Than 60% Of The Applicants Were Quilt.

Yesterday, the big market staged a "magic" scene, "the most expensive new stock in history," Hai Pu Rui, after the day before yesterday's limit, fell again yesterday, the opening soon broke. The big surprise is still behind. The small and medium sized board, Jiaxin silk (21.58, -0.42, -1.91%), has been on the first day of listing, breaking the worst record of the small and medium-sized board's new shares since the IPO restart.

Regrets about the involvement of the new organization has been covered by the whole line, about the "first day break" or will lead to the issue of new shares. P / E ratio Expectations of a return to value are also emerging.

Purchase more than 60% quilt of Jiaxin silk

Because of the strength of the blue chips and the sharp rise of the two markets in the US and Europe yesterday, the markets of the two cities opened sharply, but the market confidence was obviously insufficient in the continuous decline. The market was going up and down all day. Shortly after the opening of the afternoon, the two cities changed from red to green. The Shanghai stock index hit a new low since September 1, 2009. At the same time, it also hit a low closing price in the past year, closing at 2647.57 points.

It is worth mentioning that among the three new stocks listed yesterday, Jiaxin silk rose slightly in early trading, and hit 23.5 yuan after a full day high. Then it continued to fall. It opened at the end of the afternoon and fell below the issue price, closing at 21.58 yuan, or 1.91%. This is the first publicly traded stock in Zhejiang listed companies that was broken on the same day. It is also the worst performance of the SME Board since IPO was restarted. The highest profit for new stock investors is only 5%, while the turnover rate before noon is only about 35%, which means that most investors and institutions involved in the purchase are covered on the first day.

Information shows that Jiaxin silk The first issue of 33 million 500 thousand shares of A shares, the main business income mainly from silk, silk, clothing and other products R & D, production and sales. In the five consecutive years, the company ranks the top 10 in the competitiveness of China's silk industry. It is also the 2008-2009 China's textile and apparel enterprise's top 500 competitive enterprise and the top 100 business of China's textile and garment industry.

Although Jiaxin silk has been exposed to negative news before listing, such as the company and its second largest shareholder, Zhejiang Kay hi Ya international Limited by Share Ltd are not only competing in the same field, but also the core competitiveness is lagging behind the second largest shareholders, and the market organizations have predicted that the appreciation of the renminbi will be 3% left and right, and the appreciation of the renminbi will swallow up its profits. But after all, only 26 million 800 thousand shares were listed yesterday, and the highest price in the market is only less than 7% from the issue price.

The same fate as Jiaxin silk is the flag of 100 yuan, Hai Pu Rui, who broke up shortly after the opening, quickly closed down the limit, reluctantly opened at the end, closed at 144.25 yuan, down 9.84%, the spanaction amount of 1 billion 370 million yuan, the turnover rate of 29%. According to yesterday's haipi Rui closing price of 144.25 yuan, not only Li Li and his wife only 40 billion 400 million yuan, has shrunk 10 billion yuan, and "Hua Xia", GF, Haitong, social security fund 501 and 504 combinations were caught. More noteworthy is that in the three trading days after the listing of the company, the agencies are actively buying, even if the day before yesterday's limit, there is still an institutional seat to buy 8 million yuan. There is no doubt that the above institutions have been covered by the whole line.

Half of the new shares have been broken since mid April.

Many securities companies said that Jiaxin silk and Hai Rui break increased investors' concerns about the high valuations of small and medium capitalization stocks. The index of small and medium plates (5550.947, -145.93, -2.56%) became the only index of the three big indexes yesterday. The traditional blue chips led the rebound of the stock market to be expected. However, when the global negative news is excessive, the rebound will be limited.

Data statistics also show that since mid April, 15 stocks have fallen below the issue price in the 29 new stocks listed on the main board, Shenzhen SME board and gem. In April 30th, the number of new gem IPO digital video (51.410, -3.48, -6.34%) rose by less than 5% on the same day, creating a new low on the first day of IPO.

In fact, New shares Issuance is closely related to the A share market trend. After the "5.51,0.00,0.00%" listing in China, the IPO and IPO performance both rebounded sharply as a result of the strong market. In April 13th, the New Asia process (35.64, -1.57, -4.22%) of the small and medium sized boards listed on the market rose to a new high of 275% on the first day since the IPO reform in 2009. But since then, as the market has gone down sharply, the participating institutions have gradually reduced, and the first day of IPO has also begun to decline. In April 30th, the number of digital video on GEM's IPO rose by less than 5% on the same day, creating a new low on the first day of IPO listing. Yesterday, Jiaxin's silk market opened up only 2.27%, setting a record of the recent opening of the IPO.

Dong Dengxin, director of the finance and Securities Research Institute of Wuhan University of Science and Technology, said he would open the first round of the second round of breakage. This is the market rule of IPO Marketization: as long as the phenomenon of "breaking the first day of IPO" temporarily disappears, the price earnings ratio of IPO will rise confidently and until the "ceiling" level is reached again, it will reproduce the vigorous view of "breaking the first day of IPO", thereby driving the IPO of the IPO to go down again. Then, the phenomenon of "breaking the first day of IPO" gradually decreases. After that, the IPO rate of IPO gradually stabilizes, and the phenomenon of "breaking the first day of IPO" gradually disappears, and so on and so forth, and constantly circulates. This is the marketization of "breaking new shares".

Experts suggest that risk should be avoided by some small cap stocks, because some small cap stocks have reached a new high, surpassing the high point in 2007, and there is a lot of speculation. Valuing down is inevitable. At the same time, the IPO is still not showing signs of decline. Interest rate hike and deposit reserve ratio are still expected. The liquidity of A shares will not improve significantly.