In addition, the meeting passing rate of 117 enterprises was 91.45%, which was significantly higher than the previous three quarters (80%, 90.79%, 86.76%). Based on working days, in the four quarters and the whole year of 2019, the daily average number of companies audited in the IPO market was 0.25, 1.23, 1.03, 1.89 and 1.1 respectively, and the pace of audit in the fourth quarter was significantly accelerated.
From the perspective of provinces and industries, Guangdong, Jiangsu and Beijing ranked the top three in the number of enterprises, and computer communication and other electronic equipment manufacturing industry, special equipment manufacturing industry, software and information technology service industry ranked the top three in the number of enterprises.
In terms of intermediary agencies, CICC, CSCI and GF Securities have become the largest number of securities firms to sponsor the enterprises at the meeting, while Lixin Accounting firm and Beijing Zhonglun law firm have respectively become the largest number of audit institutions and law firms to serve the enterprises at the meeting.
Top three enterprises in Guangdong, Jiangsu and Beijing Fair
In terms of provinces, in the fourth quarter of 2019, the number of enterprises in Guangdong Province reached 25, ranking first in China. Jiangsu Province, Beijing city and Zhejiang Province ranked second to fourth with 18, 16 and 10 enterprises respectively, while Sichuan Province, Shanghai city and Anhui Province ranked fifth with 6 enterprises each.
Subdivided into cities, in the fourth quarter of 2019, Beijing, Shenzhen, Suzhou, Guangzhou and Shanghai ranked the top five in the number of enterprises in the fair, with 16, 11, 9, 8 and 6 enterprises respectively.
These provinces and cities rank top and have a positive correlation with the local economic base. The private economy of Guangdong, Jiangsu, Zhejiang and Shanghai is very developed, while Beijing is dominated by state-owned enterprises and high-tech enterprises, with its economic strength ranking first in China. On January 3, the director of Investment Banking Department of a securities firm in Beijing told time business school.
In terms of industry, in the fourth quarter of 2019, there were 22, 14, 11, 9 and 6 enterprises in computer communication and other electronic equipment manufacturing industry, special equipment manufacturing industry, software and information technology service industry, pharmaceutical manufacturing industry, electrical machinery and equipment manufacturing industry, ranking in the top five of the industry list, accounting for 53% of the total enterprises in the current meeting.
In terms of the proposed IPO sector, in the fourth quarter of 2019, the number of enterprises to be listed on the science and technology innovation board, growth enterprise board, main board and small and medium-sized board was 52, 28, 23 and 14, respectively, with the proportion of science and technology innovation board accounting for 44.44%, nearly half of the total.
Meeting passing rate of 3 recommendation agencies: 100%
Intermediary agencies play an important role in the IPO market, and provide escort for the success of enterprises. In the fourth quarter of 2019, how about the performance of three types of intermediary agencies: sponsor, accounting firm and law firm?
In terms of sponsor, in the fourth quarter of 2019, CICC acted as the sponsor of 11 companies on the meeting, with the number of sponsors ranked first, and CSCEC securities (10), GF Securities (10), CITIC Securities (7), Everbright Securities (7) ranked second to fifth, with the number of companies on the meeting sponsored by the five securities companies accounting for 38.46% of the total number of companies on the meeting in that quarter.
Among them, the meeting passing rate of Guangfa Securities and CITIC Securities recommendation enterprises was 90% (one delayed voting), 71.43% (two cancelled auditing), and the other three enterprises were all 100%, showing eye-catching performance.
In terms of the meeting passing rate, the meeting passing rates of Lixin and Zhengzhong Pearl River are 84% (3 cancelled the audit, 1 was not approved), 87.5% (1 suspended the voting), and the meeting passing rates of the other three accounting firms are 100%.
In addition, in the fourth quarter of 2019, the largest number of law firms serving the conference was Beijing Zhonglun (21), followed by Beijing Jindu (12), Beijing Deheng (9), Beijing JUNHE (8) and Shanghai jintiancheng (6). The total number of five companies serving the conference accounted for nearly 50% of the total number of the conference.
In terms of meeting rate, the meeting rate of Beijing JUNHE and Shanghai jintiancheng service enterprises reached 100%, and that of Beijing Zhonglun, Beijing Jindu and Beijing Deheng service enterprises were 90.48%, 83.33% and 77.78% respectively.
The registration system is not only a test of the ability to practice, but more importantly, the market ability. The top ranked intermediary has more advantages in this respect. In the future, the opportunity of the securities industry will be more and more obvious to the head intermediary. On January 3, the head of investment banking told time business school.
Financial indicators are the core indicators in the IPO review, which are highly concerned by the whole market.
Time business school has made a statistical analysis of the operating revenue and net profit of 117 enterprises attending the conference, based on which we can see the financial situation of enterprises attending the conference in the fourth quarter of last year.
Statistics show that in 2018, the average operating revenue of 117 enterprises attending the meeting was 3.738 billion yuan, with a median of 557 million yuan. Among them, postal savings bank (601658. SH) is the highest, reaching 260.995 billion yuan; Zejing Pharmaceutical (688266. SH) ranks the bottom, only 01 million yuan.
In terms of net profit, in 2018, the average net profit of 117 Shanghui enterprises was 685 million yuan, with a median of 91 million yuan. Among them, postal savings bank ranked first with 52.384 billion yuan, while baiaotai ranked bottom with - 553 million yuan.
As of January 3, the average operating revenue of 3760 listed companies of a share in total in 2018 was 12.208 billion yuan, with a median of 1.949 billion yuan; the average net profit was 932 million yuan, with a median of 124 million yuan.
It can be seen that in the fourth quarter of 2019, the median of the meeting enterprises is lower than the median of A-share listed companies, both in operating revenue and net profit. What does that mean?
On January 2, an auditor of an accounting firm in Guangzhou told time business school that this aspect reflected that the access standard of capital market for enterprises to go public tends to be relaxed, and the difficulty of enterprises to realize direct financing by means of capital market is reducing, for example, the case of loss making enterprises meeting appeared in science and technology innovation board, which was unimaginable before..
In addition, from the perspective of fund-raising amount and investment direction, 115 enterprises (Zhongtai securities and Bank of China International have not disclosed relevant data) at the conference plan to raise 162.816 billion yuan in total, which are respectively used for production line technical transformation and expansion, R & D center construction and R & D projects, supplementary working capital, new project construction, marketing network construction, collection (Consolidation) and integration projects, accounting for the total fund-raising amount of the current period 25%u30018.85%u300127.75%u30015.62%u30011.78%u300131%u3002
Source: time weekly Author: Huang Huanhuan editor in charge: Wang Xiaowu Gu NF