Can The New Three Boards Be Stratified Into Gold?

A "wonderful flower like dog, zombie walking everywhere" new board has not been saved? Everyone is in haste ha ha, looking forward to the new three board market layering plan.

Say Cao Cao and Cao Cao will arrive.

The new three boards are no longer a heavy burden, at least on the scale of the great leap forward. Now they are more than 7000, and by the end of the year, they will probably reach 1. All kinds of weird companies have appeared on the new three boards. They have the first plastic stocks in China and South Korea. They have the first stock of Li Mei Kang, the first domestic magnolia flower, the first Goubuli of baozi, the first Zhu Lao Liu of tofu, the first stock of peppers with pickled peppers, and the first share of the condoms, called Nox technology. Finally, there is another most frustrating thing that is the first Taobao of Asian football.

Then, whether the market stratification of the new three boards can really turn a stone into gold? As we all know, the new three boards are the only pieces of reform that have been held by the chairman of the SFC Liu Shi Yu after taking office. The registration system has also been postponed.

The strategic emerging board has also been postponed. At the same time, all the practice of China's capital market now hopes to promote the new three boards, so the new three boards have symbolic significance.

Reporters recently made a statistical survey found that, in fact, the growth of these wonderful companies is still good, and the net profit of all kinds of exotic flowers accounted for nearly 80% of the year-on-year net profit growth. That is to say, the growth of performance is not different from the wonderful work of the company.

In fact, most of these wonderful companies are consumer service enterprises, which is also in line with the general trend of China's economic restructuring.

Of course.

The performance should be clear that their base is very low, and the revenues of all 7000 companies add up to about 1 trillion and 100 billion yuan, and the profit is about 80000000000 yuan, which is basically equivalent to the level of two Minsheng banks.

The starting point of the new three boards is still very low, a bit like a rudiment of the gem.

In addition, the loss of new three boards is also a lot of companies, and the loss is not worse than the motherboard. Hengda Taobao is the representative, but it is a double champion. It takes both the Asian champion and the super champion to earn a lot of money for the Chinese. But the performance loss is really fatal. In 2015, Hengda Taobao's revenue was only 380 million yuan, which appeared to be 11% higher than the 340 million yuan in 2014. However, the loss was scary, and it lost 950 million yuan, a double that of 2014's loss of 480 million yuan.

However, it's not whether these wonderful companies are making profits or losing money, but more than half of the new three Board companies do not even have one paction every year. That is to say, more than half of the companies are actually

The market is in a zombie state.

Of course, this situation is very much related to the low threshold of new three boards, and the threshold of investors is very high. The net assets of a single investor account for more than 5 million yuan, which is higher than the net assets of ordinary companies, so as to control risks, but the risk is controlled, and the liquidity of the market is also lost.

This is certainly not what the SFC wants to see.

In order to change the situation of the new three boards, the SFC has made a lot of efforts. The main effort is to divide the new three boards. More than 10 thousand companies can hardly see how to keep their eyes fixed. The answer is stratification.

On the first level, the basic level is the pfer of agreements. As long as you can see that the other party is willing to pfer, you will have private one to one negotiation; the second level of nurture will introduce the market maker system, so that the broker can act as a market maker, buy and sell, at least make the market active; the third level is the innovation layer, and the innovation layer can introduce the bidding paction. This is a proposal put forward by the water skin. If it does not introduce the bidding paction, the result of the paction will hardly be able to reflect the real demand of the market, that is to say, the pricing function of the new three boards is all about asking the number.

But once the bidding is introduced, there is no doubt that it is close to the motherboard, so the threshold will be relatively high. Even so, according to the newly issued three board "layered management method", there are enough to meet the requirements of the more than 900, nearly 1000 scale, then the new three boards can challenge A shares to a certain extent.

Of course, on the other hand, zombies exist everywhere, indicating that these companies have relatively low starting points.

How to find a balance between activity and risk control is what we expect from the SFC. After all, if the market is short of zombie and lacks the participation of investors, it will hardly be successful.