Don'T Go Astray When Going Public.

The stock market, which slowly lifted from the bottom, gave investors hope and many international reasons. financial crisis Once a difficult garment enterprise dreams of listing.

One data shows this trend. According to the NetEase's 2010 clothing industry development survey report, more than 50% of garment enterprises have listed plans in the next two years, and more than half of them will choose to list in Hongkong. Obviously, the strength of capital market is affecting and changing the Chinese garment industry with unprecedented strength.

The climax of the listing of clothing companies should be in 2007, when China's economy continued to develop rapidly. Shares The success of the split share reform, the resonance of multiple factors such as low interest rate and excess liquidity of money, has given rise to a big bull market in the history of Chinese stock market, which has directly led to the fashion trend of garment enterprises. BELLE, Anta, news bird, Bosteng, Muse bonwell, the performance of these enterprises after listing is commendable, the leaders of all enterprises are listed on the list of Forbes's clothing list. Listing has become a gluttonous feast for the apparel industry.

However, behind the Carnival Carnival, there are often hidden currents and hidden dangers.

The profit driven nature of capital enables its subjects to follow in a crazy way, but also enables some followers to trample the bottom line of law and morality. In order to go public, they do not hesitate to resort to financial means, fraud and other improper means, but they can not find themselves at all.

On the afternoon of July 2nd, three executives of Jiangsu Sanyou company, a garment production enterprise, were publicly apology to the public on the Internet platform provided by Shenzhen securities information limited. The reason for this appearance is that it deliberately concealed the fact of the actual controller's change on the eve of the company's listing in 2005. However, in order to meet the IPO conditions that the actual controllers could not change in the first 3 years of the listing, in order to achieve the purpose of listing, Jiangsu friends and other parties deliberately concealed the facts to evade market supervision until March 27th this year.

In addition to fines and public condemnation, there seems to be no more severe penalties for cheating, which has already become a fact. However, its reputation in the hearts of investors and its image in the public mind will be greatly reduced.

ITAT may be "unlucky" compared with the "lucky" success of three friends in Jiangsu. This clothing retailer, once described by the media as a growth miracle in the business field, failed in the eve of its planning to go public and suffered a fatal blow due to the crushing defeat of the listing.

　　 ITAT In the process of listing, it made a fatal mistake. Its chairman was too successful to deceive the company by "deception" before the listing hearing. According to relevant media reports, in order to make themselves "noble", ITAT has always claimed that "international fashion brand clothing" is widely known, but in fact, most of its international brands are fake foreign brands. This can be seen from its trademark which is made up of Pinyin instead of English. In addition, in order to make its false "brilliant" performance more credible, ITAT organizations make false appearances of people in every store to cope with the inspection of investment banks. This kind of gambler's practice eventually dragged ITAT to an abyss of perdition, and IPO finally failed. After that, the rapid expansion of stores and the large number of recruited employees became the heavy burden of ITAT. It had to abolish stores and employees in large numbers. In the end, they were trapped in all sides. It can be said that for the lessons learned from listed companies, ITAT should be a classic.

Looking at all these listed farce, a very important reason is that the owners of the company are melting money into the only target of listing. Admittedly, in the era of fast fish eating slow fish, the benefits that enterprises can get through listing is obvious, and can be quickly melted into capital, realizing the rapid and large-scale development of enterprises, leaving their rivals far behind. As for the thirst for funds, those enterprises that are in rapid growth and need to arrange seats at the forefront of clothing are more prominent. Due to this urgent psychology, many people have lost the bottom line of business ethics.

Of course, in addition to the temptation of financing, the listing can also standardize the management of all aspects of the enterprise, at the same time, build a competitive platform for enterprises, enhance the credibility of enterprises, and even become a weight to change the future industrial pattern. When the realization of brand value is closely related to capital strength, the magic of capital enables enterprises to "change sparrows to Phoenix" will make many enterprises envious. However, listing is not a panacea for all kinds of diseases. It is only a phased goal of some enterprises in the long term development. The long-term development of enterprises still depends on whether the brand itself can maintain its vigorous vitality. Otherwise, even if it is on the market, it is difficult for enterprises to survive in crisis.

The closure of the listed dragon group is a vivid case. After being listed in Singapore, it was once regarded as a model of textile printing and dyeing industry by the industry. However, after the arrival of the international financial crisis in 2008, the capital chain was broken because of poor internal management, lack of innovative competitiveness and rapid expansion of products.

　　 Editor's note: when the listing trend is again blowing up, I urge those eager to do so. We must have a clear understanding of whether our enterprises have the listing conditions and the purpose of listing. Do not repeat the same mistakes and go astray!