Private Enterprises In Wenzhou Are Surging On The Market.

Wenzhou private enterprises, who have been immersed in the industry and never look up to the stock market, are brewing a tide of listing.

Following the successful listing of two private enterprises of Rayleigh group and Huafeng spandex, and the breakthrough of zero listing of private enterprises in Wenzhou, there are two enterprises in Wenzhou this year, namely, Huayi Electric and news bird.

At present, the echelon of Listed Companies in Wenzhou has been formed, and more than 10 enterprises are preparing for the listing.

According to the information provided by Wenzhou finance office, Wenzhou's "hot listing" continues to heat up.

According to incomplete statistics, there are more than 50 listed companies.

Among them, there were 7 enterprises to report materials in 2008, 14 enterprises planned to go public in 2009, and 29 enterprises planned to go public in 2010.

Unwilling to go public, Wenzhou, once the "secret word" as the birthplace of China's private economy, was once regarded as an "insulator" by the outside world. There was only one listed company in Wenzhou before 2006.

The same province has more than 40 listed companies in Hangzhou, and 20 listed companies in Ningbo and Shaoxing. The pace of listing of private enterprises in Wenzhou is obviously lagging behind.

In the eyes of the outside world, Wenzhou private enterprises "do not want to go public".

Professor Ma Jinlong, director of the Wenzhou Municipal Commission for reform and development, said that Wenzhou's private capital was strong, known as "300 billion yuan in the local area and 300 billion in the field". Private enterprises financing convenience, "no shortage of money" and "no need to go to the stock market to collect money" is a reason why Wenzhou private enterprises and capital markets have been "keeping distance".

In addition, because most of the private enterprises in Wenzhou are family businesses, they worry that the restructuring of the stock will affect the family interests and the high cost of listing. The pace of Wenzhou private enterprises listing is very slow.

"Listing is a process of forcing yourself to spit out the word" difficult to hide ".

Chen Dexin, chairman of the southern investment group, also admitted that "private enterprises with a majority of family management in Wenzhou have complicated management loopholes. Listing means financial disclosure. This is what many enterprises are worried about."

Wang Zhentao, chairman of AOKANG group, said: "in the past few years, the unstable and unregulated domestic stock market is a reason why Wenzhou enterprises do not want to go public. More importantly, the concept of Wenzhou entrepreneurs has not changed, especially in private enterprises. They fear that the enterprises that they are working hard to build will become public, and the brand is not their own.

The management of private enterprises is not very standard at present, which requires a process.

This year, in August 16th, Wenzhou's private enterprises reported the wedding bird clothing Limited by Share Ltd listed. The Wenzhou municipal government organized more than 30 key enterprises to go to the scene to observe.

On the opening day, the stock price jumped 45 yuan, and the issue price of the stock was 12.6 yuan. The total market value rose from 1 billion 200 million yuan to 4 billion 320 million yuan. Some of the Wenzhou bosses at the scene looked at "silly" and repeatedly sighed. Some even claimed that they needed to take out a calculator to figure out how many pairs of shoes or clothes they could sell to earn that amount of funds. Many observers said they would go back to the enterprise immediately and change the system and strive for listing.

Wu Zhize, chairman of the news bird group, said: "the listing of enterprises is a process, not a result.

After the listing, there will be many changes in the management and operation of enterprises, but the development of enterprises will not change at all, otherwise they will be willing to sacrifice their needs.

"Whether it is the strength of enterprises or the support of the government and the market environment, the listing of Wenzhou enterprises is" everything is ready, only owes to Dongfeng ". This" Dongfeng "is a breakthrough of Wenzhou entrepreneurs' concept.

Zhang Zhenyu, director of Wenzhou finance office, said.

In fact, the listing of private enterprises in Wenzhou has existed for a long time, but it has not produced the "demonstration effect" of such a sensational bird.

In July 2004, Ruili Beijing Great Automotive Components Company Limited successfully purchased its shell overseas and officially listed on Nasdaq, which launched the "first shot" of overseas listing of private enterprises in Wenzhou.

In August last year, as the first private enterprise in Wenzhou to issue IPO in China, Huafeng spandex landed in Shenzhen's small and medium-sized board.

Then, Huayi Electric also successfully listed on A shares through shell buying.

In fact, Wenzhou private enterprises have superior "listing conditions".

Wenzhou has distinct economic characteristics. Clothing, leather shoes, lighters, low voltage electrical appliances and other industries all play an important role in China. Some of the leading enterprises in some industries are likely to become the darling of the capital market once they are listed.

In addition, the scale of enterprises in Wenzhou is also considerable.

According to the statistics of Wenzhou Municipal Bureau of statistics, there are 5757 Enterprises above Designated Size and 29 enterprises among the top 500 private enterprises in China.

Statistics to the first half of this year, the total assets of 119 enterprises in the city totaled 83 billion 80 million yuan, with an average household assets of 698 million yuan.

The enterprise group of over 1 billion yuan of assets has developed from 17 last year to 21 at present, among which CHINT group and Delhi group exceed 5 billion yuan.

"Listing is not for" money ", many private enterprises gradually realized that entering the capital market can introduce strategic investors, attract more talents to join, control more resources, manage more standardized, and make enterprises bigger and stronger.

Chen Jiyi, director of the listing Office of Wenzhou listed company, pointed out.

The Wenzhou government is also encouraging the Wenzhou private enterprises to go public.

Wenzhou's opinions on cultivating enterprises to list and supporting the development of listed enterprises stipulate that the government of the same level will reward enterprises with RMB two million yuan in the future when enterprises go public or carry out backdoor listing and register the listed companies to Wenzhou.

At the same time, the government stipulates that the government will give preferential treatment to land used for restructuring and listing enterprises in terms of land use and taxation.

The Wenzhou municipal government also organized enterprises to inspect some listed companies in Shaoxing, and hired experts to teach private entrepreneurs in Wenzhou.

The municipal government expects that by 2010, the total number of listed enterprises in Wenzhou is expected to reach 30, forming a "Wenzhou plate" with regional economic characteristics in the stock market.

With the "hot listing" of Wenzhou enterprises, a market share service market with billions of billions of shares is brewing in Wenzhou.

Taking listed companies and listed companies as the core, securities firms, accounting firms, law firms, listed consulting companies, equity investment institutions, banks, insurance companies and so on are all around them and scramble for the market share.

The listing enthusiasm of Wenzhou's private enterprises has attracted the attention of the Hongkong stock exchange.

In October 23rd this year, representatives from Hongkong investment promotion agency and HKEx arrived in Wenzhou to promote the more than 100 well-known entrepreneurs in Wenzhou.