Hong Kong stock unicorn shares frequently broke up, what inspiration do they have for A shares?

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 Hong Kong stock unicorn shares frequently broke up, what inspiration do they have for A shares?


Luo Man, a reporter of the Securities Times Since the second half of last year, there have been a number of mainland exclusive animal companies (valued at more than $1 billion) in Hongkong market IPO (New IPOs), which have been widely sought after by the United States online, reading group, Yi Xin group, Razer, safe doctor and so on. High valuations are obtained. However, their performance after the listing is very impressive: some have fallen 2/3 after a high rush. Some of them go on a long journey after the listing, and 4 of the 5 companies have fallen out of the issue price, giving an infinite reverie of the unicorn listed company, making a group of high buying investors firmly fixed. This group of Hong Kong - stock unicorns is so bad that the root cause is overvaluation, the companys fundamentals are not enough to support the high stock price, so the market is squeezed out of the bubble. In the backdrop of last years magnificent Hong Kong stock market, the market has formed a flammable environment, when the unicorn concept is like a Torch, which completely ignites the investors optimism, not only gives these companies very high valuations, but a lot of new shares are also snapped, hundreds of times over recognition. Buy. However, the stock price will ultimately reflect the profitability of the enterprise, at least to reflect the profit potential of the enterprise, the concept of Unicorn how sexy, if it can not give people confidence in a certain period of time, after the market optimism disappears, bone sense appears, its valuation bubble will break up at any time. At present, the large proportion of the unicorn break market is only a rational return, and the zealots have paid the price for their irrational behavior. From the previous Unicorn company, although they have huge user flows and new business models, they look very promising, but these advantages or highlights should be transformed into real profitability, with a lot of uncertainty, or a long time and a long way to go. If rational understanding of related issues, these companies may not have such a high issue price, or will not be so fierce after the listing. The high expectations of the companys future and the frenzied speculation of stock prices eventually led to tragedies, which occurred in US stocks, Hong Kong stocks and A shares. For example, in 2000, the Hongkong market was in a frenzy of speculation in the stock market, and finally the bubble burst, of which PCCW fell to 96% from the peak in 2003. The reason why this tragedy is because in the market atmosphere, investors often have unrealistic expectations of these companies, whether the quality of the company, whether or not the quality of the company, on the concept of fry. In fact, both in the United States and in China, there are only a few Unicorn enterprises that really have core technology, core discourse power and competitiveness. The great enterprises, which can be called great ones, are rare, and all the unicorns are unrealistic and likely to swallow bitter fruit. At present, both Hongkong and mainland regulators are encouraging Unicorn enterprise IPO to go public or returning from overseas in the form of CDR (Chinese depositary voucher). Next, there will be a company in the Hongkong IPO, and the future company will return to the A market through CDR, but this does not mean that the regulators will endorse the investment value of Unicorn and invest in the investment value of Unicorn. It is necessary for the managers to maintain the rationality and maintain the awe of the market. We should carefully analyze the fundamentals and development prospects of the company and make rational judgments, and should let the awareness of the risk enter the mind, and follow the shadow with all our investment behavior. Source: Securities Times Network Editor: Wang Fengzhi _NT2541 The high expectations of the companys future and the frenzied speculation of stock prices eventually led to tragedies, which occurred in US stocks, Hong Kong stocks and A shares. For example, in 2000, the Hongkong market was in a frenzy of speculation in the stock market, and finally the bubble burst, of which PCCW fell to 96% from the peak in 2003. The reason why this tragedy is because in the market atmosphere, investors often have unrealistic expectations of these companies, whether the quality of the company, whether or not the quality of the company, on the concept of fry. In fact, both in the United States and in China, there are only a few Unicorn enterprises that really have core technology, core discourse power and competitiveness. The great enterprises, which can be called great ones, are rare, and all the unicorns are unrealistic and likely to swallow bitter fruit. At present, both Hongkong and mainland regulators are encouraging Unicorn enterprise IPO to go public or returning from overseas in the form of CDR (Chinese depositary voucher). Next, there will be a company in the Hongkong IPO, and the future company will return to the A market through CDR, but this does not mean that the regulators will endorse the investment value of Unicorn and invest in the investment value of Unicorn. It is necessary for the managers to maintain the rationality and maintain the awe of the market. We should carefully analyze the fundamentals and development prospects of the company and make rational judgments, and should let the awareness of the risk enter the mind, and follow the shadow with all our investment behavior.