28 GEM Companies Launched Equity Incentive &Nbsp; 13 Fell Below The Exercise Price.

Up to now, the GEM listed companies have expanded to 216 units, of which 62 companies have landed this year.

Insiders said that the A share market is currently in the stage of shock, and the breakup of new shares will intensify.

In an interview with reporters, Shi Yong Jin, director of Datong Securities Research Institute, said that the breakout of new shares was mainly institutional problems. In addition, the non market oriented human factors led to the high price earnings ratio and the issue price of new shares, which led to the breakup of the company after its listing.

6 companies listed 4 breakages

In May, 6 companies entered the gem, including 3 companies.

According to the statistics, the average price earnings ratio of GEM companies listed on this year is 69 times, and the average price earnings ratio of GEM companies listed in 2010 is 70 times. In May, 6 GEM companies listed on the market were 53 times the average price earnings ratio.

From the company's issue price, only the 6 newly listed companies have the highest issuing price and opening price, 76 yuan / shares and 80 yuan / shares respectively, and the opening and issuing prices of the other 5 stocks are relatively low.

For this reason, Shi Jin Yong said that from the present point of view, the price of the newly listed companies on GEM and the small and medium-sized board has declined compared with the price earnings ratio before, which does not exclude the reduction of price and price earnings ratio caused by human factors. If it can be maintained, it will gradually become rational in the future.

No matter how to solve the primary problem of breaking new shares, or to solve it from the system, the price drop caused by human factors remains to be seen in the market.

As we all know, since the start of the reform of IPO in June 2009, there have been two improvement measures, but in reality, the pricing of IPO has not been well solved.

Wu Xuan, chief strategist of state capital securities, said in an interview that with the slowdown in economic growth and the tightening of state control policies, the rise of raw materials and the increase in the cost of enterprises on the market have led to some decline in the performance of some manufacturing listed companies. Therefore, the increase in the number of market breakage is inevitable, and is also the process of market repositioning of the gem.

Equity incentive plan or "abortion"

According to statistics, in 2011, A share listed companies launched a wave of equity incentive.

Among them, there are many companies that launch equity incentive on GEM.

Among them, 28 companies have launched the equity incentive plan, and 10 listed companies have already completed the equity incentive or have issued the date of exercising their rights. 2 companies have announced a stop equity incentive plan, and 13 of the GEM companies are now below the company's option price.

From the above data, we can see that the gem has become a "disaster" disaster area.

], East Fortune [37.65 -0.34% shares], Han Wei electronic [18.82 -0.84% shares], south wind shares [24.10 -0.62% shares], Jiayu stock [15.92 -6.19% shares], Wanda information [22.60 1.03% shares], morning light biological [30.55 0.49% shares], Ningbo CQY, Xing Hui model car shares bar], Jinya technology stocks, bar chart technology stocks, bar chart software [[24.10] bar, three dimensional silk [30.19 shares]; in addition, double Forest shares 1.02% 1.02% shares] and Zhong Neng Electric shares, respectively, in May 6th and April 28th put forward to stop equity incentives, and the current electricity price is far below 37.49 yuan of exercise price. By the end of May 17th, there were 13 companies whose share price was lower than equity incentive exercise price. They were [13.23 0.23% shares of Yin Jiang share.

In view of the current stock price, Dongfang fortune proposed a modification plan for equity incentive.

It is understood that the eastern fortune is currently priced at 37.65 yuan, while the company's exercise price is 53.70 yuan. For this reason, the company launched the revised equity incentive plan in May 12th. The revised equity incentive plan only reduced the incentive target from 242 to 159, but the exercise price has not changed. It is still set at 53.7 yuan, much higher than the 37.65 yuan closing price of the stock yesterday.

In addition to the proposed change of the Eastern wealth, other companies have not heard anything yet.

Reporters interviewed some of the listed companies on the phone. They said they had no idea of changing the equity incentive plan.

Among them, the head of the three dimensional silk secretaries office said in an interview that the date of execution of the company's equity incentive is still one year. At present, the low share price does not affect the company's exercise rights.

Shi Jin Yong said that the company's equity incentive is much better than that of the company after its listing. Equity incentives will give investors a good signal.

At present, some entrepreneurs lack experience because of their lack of experience. When the company's share price fluctuates in the two tier market, they will make some negative practices. However, everyone will pursue their interests. Therefore, when the company's share price falls below the exercise price, the company will often choose to give up the exercise of the exercise rights, and so on when the share price is performing well.

Wu Xuan also said that when the share price of listed companies continued to fall and fell below the exercise price, the only way for listed companies was to give up their exercise rights.

For the current stock price predicament of listed companies, Shi Jin Yong also said that from now on, after the share price of some listed companies broke, the valuation of the company has become more reasonable.

For investors, it may provide a good investment opportunity.