Among the 20 listed insurance institutions, another insurance intermediary company is ready to withdraw from the new third board. Guangdong Guangshang Insurance Sales Co., Ltd. (hereinafter referred to as Guangshang insurance sales) recently announced that the companys fifth extraordinary general meeting has deliberated and passed the proposal on the termination of listing of the companys shares in the national small and medium-sized enterprise share transfer system.
Guangshang insurance was listed on the new third board in August 2018, which has been more than two years. Considering the current business development strategic planning of the company, as well as the actual situation that needs to focus on business development at this stage, as well as the high cost of information disclosure, low stock liquidity and high financing cost, in order to further improve the companys decision-making efficiency, reduce costs and promote the companys better development, the company plans to apply for the end of the national small and medium-sized enterprise stock transfer system No listing. Guangshang insurance sales in the announcement pointed out. The bill was passed.
From the perspective of the companys operation, the data of the semi annual report showed that the sales revenue of Guangshang insurance in the first half of this year was 5.735 million yuan, a year-on-year decrease of 32.63%; the gross profit rate increased from 20.75% in the same period of last year to 22.67%; the net profit attributable to the parent company turned losses into profits, which was 52300 yuan.
According to the statistics of Dongfang fortune choice, from 2015 to 2020, there are 3, 8, 5, 2, 2, and 0 insurance institutions that have been listed on the new third board from 2015 to 2020. It can be seen that 2016 is the peak period for insurance institutions to land on the new third board. So far this year, no insurance institutions have landed on the new third board. At the same time, judging from the companies queuing up for landing on the new third board, there are no insurance institutions. On the contrary, in recent years, at least 13 insurance intermediary companies have left the market from the new third board, showing a state of less in but more in, and this year it is in the trend of net outflow.
The main reason is the poor expected reality
However, some companies found that there is a big difference between the reality and the ideal results after listing on the new third board. A number of insurance intermediary companies said that the new third board stock market has low liquidity, high financing cost and even difficult to achieve financing effect. Regular information disclosure not only raises the companys operating costs, but also may have a certain restriction on its operation. In the period of business development, it will be more convenient to have information or not to disclose it publicly, and information disclosure should go through procedures It affects the efficiency of decision-making. The head of an insurance agency said. At the same time, from the cost of information disclosure, according to a person from a securities company, various related expenses are about 1 million yuan. Although the absolute amount is small, it is also a large piece of hard cost for many small and medium-sized insurance institutions.
From the financing situation of insurance institutions in the new third board in recent years, from 2016 to 2020 (up to now), there were 3 times, 2 times, 3 times, 6 times and 0 times respectively. On the whole, there are not many financing cases. This year, Shandong Yifu Insurance Agency Co., Ltd. (hereinafter referred to as Yifu insurance agent) issued a fixed increase plan in June. However, since then, the company has not continued to carry out directional stock issuance, nor has it issued any share subscription announcement, and the subscriber has not paid the share subscription price. Based on the changes of market and industry environment, Jardine life insurance agency decided to terminate the directional issuance of shares after friendly negotiation with investors.
Although 13 insurance intermediary companies have successively left the market from the new third board, there are still insurance institutions that recognize the value of listing on the new third board. For example, Deng Mingxiang, chairman of Jintai Property Insurance Co., Ltd. (hereinafter referred to as Jintai insurance), said in an interview with the Securities Daily reporter that although the financing role of the new third board on the company has not been reflected in recent years, strict information disclosure is very helpful to standardize the companys operation and improve the level of governance. Moreover, the companys goal is to carry out IPO, and its experience in the new third board has been greatly improved Calendar is also very helpful in pushing forward its IPO.
From the perspective of withdrawing the insurance institutions of the new third board, most of them are out of the public view, and some are actively planning A-share IPO. According to the reporter of Securities Daily, there are many insurance institutions with IPO plans at present. However, analysts believe that the insurance industry is highly concentrated, and the business of listed insurance companies accounts for a high proportion in the industry, but the stock price performance is relatively flat. Affected by these factors, it is difficult for other insurance institutions to realize IPO.
Source: Securities Daily editor: Yang Qian_ NF4425