A Quarter Of The GEM Companies Will Be 20% &Nbsp; The Sponsor'S Ability Is Doubtful.

As of March 31st,

According to the data, the 6 companies are: Tianjin Peng Ling rubber hose Limited by Share Ltd, Sichuan creative information technology Limited by Share Ltd, Kunshan Hua Heng welding Limited by Share Ltd, Dandong Xintai electric Limited by Share Ltd, Nanjing Bao se company and Shenzhen Shenzhou computer convergence.

The sponsors are Bohai securities, debbond securities, China investment securities, Huatai United Securities, Everbright Securities and Haitong Securities.

A deep industry insider told reporters that these companies were not because of serious injuries, and not just a single reason.

In addition to the company itself, its sponsor broker also has to bear some responsibility, because some brokers fail to meet the standard factor is very obvious, sponsor broker has the responsibility to discover and remind the company, do not commit other enterprises have made mistakes, especially the three time will not be able to pass the enterprise, its sponsors and enterprises themselves should reflect carefully.

Ownership fog

Some enterprises just like to turn their stock rights around, so that people can't distinguish them in a dazzling way.

The Tianjin Peng Ling rubber pipe Limited by Share Ltd (hereinafter referred to as "Peng Ling rubber hose") has long been questioned before it has been questioned by market participants in its initiation and restructuring.

First of all, the actual investment situation of Dang Kong Peng Ling is different from that of industrial and commercial registration and capital verification.

According to public information, in June 1994, the village committee of Zhong Tang and 189 villagers of Zhong Tang Village jointly set up Tianjin Dagang Peng Ling rubber hose Limited by Share Ltd (referred to as "Dagang Peng Ling").

Dagang Peng Ling has been restructured from the Tong rubber hose factory of the collective owned enterprise. The registered capital of the company is 10 million 35 thousand yuan and its total share capital is 10035 shares.

The village collective stock is 8038 shares, the enterprise worker 1997 shares, each share 1000 yuan.

In August 24, 1994, Dagang Peng Ling received the business license of enterprise legal person.

But in fact, as of September 30, 1994, the Tianjin Dagang Peng Ling rubber pipe Limited by Share Ltd accounts for only 7 million 554 thousand and 300 yuan of the collected capital, of which, the central village committee actually invested 5 million 558 thousand and 300 yuan, a difference of 1 million 996 thousand yuan compared with the industrial and commercial registration and capital verification data, and the private shareholders actually invested 1 million 996 thousand yuan, a difference of 1000 yuan.

However, the sponsor of Bohai Securities believes that the defects in the investment of the Tong village committee have its historical background, and it does not cause substantial damage to the interests of the creditors of the enterprise at that time because of the flaw in the capital contribution, so it will not constitute a substantive legal obstacle to the issuer's issuance and listing.

In addition to the above funding flaws, there are many irregularities in the history of Peng Ling hose in the process of multiple equity pfer.

This is also true of the Sichuan creative information technology Limited by Share Ltd.

The prospectus shows that the company cancelled or sold many subsidiaries in 2007 to 2009.

Among them, the sale of subsidiaries include new thinking electronics, creative electronics, Chuangxin technology, elf baby and so on.

Lin Xin, the 98% equity recipient of the new thinking electronics, is a post-90 student studying at Tsinghua University.

In addition, two executives of creative information have sold shares for unknown reasons.

In September 22, 2008, Wang Xiaowei, vice president of the company and general manager Wang Xiaoming, pferred their 3.52% and 2.64% shares to 8 natural persons such as Xin Yi and so on. The pfer price of each 1 yuan contribution amount was 7 yuan, and Wang Xiaowei and Wang Xiaoming cash in 2 million 464 thousand yuan and 1 million 848 thousand yuan respectively.

The reason for the pfer of shares is that the prospectus shows that Wang Xiaowei needs money for her daughter to go abroad to study, while Wang Xiaoming has to pay the housing charge for the purchase.

It is understood that 8 natural per capita employees with low price are non company employees.

Among them, Wang Li, birch two natural per capita was born in 1985 after 80, and birch is currently a graduate student in Sichuan Normal University.

On the 7 day, Dandong's Xintai electric Limited by Share Ltd (hereinafter referred to as "Xin Tai Electric") also had doubts about the evolution of equity in the process of restructuring.

Xin Tai electric current company actually controls human natural person Wen Deyi.

According to Xintai electric prospectus, the Dandong pformer factory, one of the predecessors of the issuer, was established in 1956 as a wholly owned enterprise belonging to the Dandong machinery and metallurgy bureau. In December 29, 1997, it was approved by the relevant departments of the Dandong government, and the enterprise property rights were sold to the natural person Wang AAI Chao at zero yuan.

But in the prospectus, there is no information about Wang aiding Dynasty. The main body of the prospectus does not mention this key person.

And the price basis of zero sale is even more difficult to trace.

In the evolution of the stock rights of the power pmission and pformation company, Wang Yuan Chao chose to clean out the household.

After the withdrawal of Wang AI Chao, all the rights and obligations of the Dandong pformer factory, which were originally purchased by the yuan, were inherited by Wendell B.

Judging from this, the market judges that there are others behind the scenes.

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Two companies suspected of connected pactions.

Kunshan Hua Heng welding Limited by Share Ltd (hereinafter referred to as "Hua Heng welding") suffered from illness. In 2008, nearly 90% of its profits came from government subsidies and tax incentives.

The sponsor of Hua Heng welding is CIC securities. It is the fifth project sponsored by CIC this year. It is also the first venture capital board of CIC.

The sponsor representatives are Kong Yufei and Li Guangzeng. These two generations are the first to make gem.

In addition, there is a serious related paction between Hua Heng welding and Sany Group subsidiary, which has two identities as "big shareholder%2b shareholder". Its sales account for half of the main business.

Customer related shareholders will inevitably derive related party pactions, which may lead regulators to focus on the company's independent profitability.

In addition, there are many related pactions in Nanjing Bao color, and its fairness and independence are questioned.

Shenzhou computer three times will be denied

For Shenzhou computer IPO is not, the industry analysts believe that the actual controller may be too high stake, and its profitability has also been questioned.

Shenzhou computer has been listed for three times.

In 2005, the Shenzhou computer holding company new world group applied for listing in Hongkong stock market and was not approved. In 2008, Shenzhou had not yet been rejected.

The Shenzhou computer prospectus shows that the company intends to issue 81 million shares, accounting for 10% of the total share capital issued, and the main underwriter is Haitong Securities.

Statistics show that the new world group, the controlling shareholder of Shenzhou computer, held 608 million 830 thousand shares before the issue, accounting for 83.52% of the total shares.

Wu Haijun and his mother Wu Jiling held 91.30% and 8.70% of the new world group respectively.

In addition, Wu Haijun also held a 5.1% stake in Meijia domain, and directly held 4.12% of the total shareholding, holding about 92.73%.

In addition to ownership concentration, the sustainable profitability of Shenzhou computer has also been questioned.

Data show that in 2010, Shenzhou computer overall product gross margin level was only 6.31%.

Some analysts have pointed out that the PC market has already entered the era of meager profits and no longer has the potential of high growth. Therefore, Shenzhou computer is not surprising that the gem is based on high growth.