Abrasives must be brave enough to be a "capital" home. Entrepreneurs in our industry must dare to operate capital. Specifically, they must dare to privately raise, dare to acquire, dare to borrow, dare to issue bonds, and dare to go public. While doing a good job in the main business, they should play a role in leverage and wings. I will give a brief introduction on the way of listing this time. First, where are the benefits of listing? (1) Raise enterprise development funds and obtain sustainable and stable financing channels. Through public listing, it can quickly collect a large amount of funds, improve the capital structure of enterprises, and enhance the development potential of enterprises. The listed company's credit qualification is relatively high, which is conducive to obtaining bank loans. More importantly, companies can obtain a steady stream of development funds through continued refinancing in the capital markets. For example, Henan's three recent abrasives listed companies have brought nearly 2 billion production development funds to Henan for the first time. (2) It is conducive to the establishment of a perfect incentive mechanism for modern enterprise systems to attract and retain talents. (3) Rapidly achieve scale expansion. After the listing, the company's financing capacity is enhanced, the operating environment is more optimized, and its ability to resist risks is improved. (4) Rapidly increase shareholder wealth. After the public offering, the shareholder wealth will be reflected in the market value of the stock, and the book value of the shareholders' equity will be greatly increased. (5) Enhance corporate visibility and brand image. After the listing, the company's transparency and credibility will be enhanced. With the advertising effect of stock trading and related information disclosure, the company's brand and image will be enhanced, and the market will be more effectively explored and market competitiveness will be enhanced. Of course, there are also benefits such as promoting local economic development and social progress, promoting regional employment and increasing fiscal revenue, and facilitating the adjustment of regional industrial structure. Second, how do abrasive abrasives companies go public? What is the roadblock that is in front of us? According to the experience of the companies I have contacted in the industry, there are so many stumbling blocks in subjective and objective. 1. Overcome the fear of the market as a fearful way. Generally, everyone sees the listing as unattainable, but the actual situation is not like this. Let us first understand what factors determine the successful listing of the company? Under the current market conditions, only a small number of enterprises can directly finance in the capital market. The success of this part of the enterprise is not only due to its own competitive strength, but also the key to understanding the auditing ideas and ideas of the management department of the capital market. Generally, the opportunities for direct financing in the market are those with good quality, standardized operation, rapid growth, active innovation, lack of funds, and the ability to give back to society. When the regulatory layer reviews the first-listed companies, the compliance of the company's operations is an important aspect that is the primary concern, such as major issues in the major stages of the company's history. Secondly, the decisive aspect of the company's listing is: “Highlights†". That is: the core competitiveness of the enterprise and its position in the industry. If the company's core products and knowledge or skills in core services are leading in the industry, the company will be actively encouraged to comply with relevant national industrial policies (such as environmental protection). In summary, the main factors that can be successful in the initial public offering of a company can be summarized as follows: (1) Whether the operation of the enterprise is standardized (the main qualifications and historical evolution are not significant, the standard operation, the corporate governance and internal control are sound and effective); (2) Enterprise Quality (good assets and strong profitability); (3) Core strengths and industry status; (4) Development prospects and fund-raising investment projects, in line with national industrial policies and orientation; (5) Sustained profitability and independence There is no horizontal competition. If there is no major problem in response to these requirements, companies should be able to make further assessment plans. 2. Actively learn about the knowledge, lessons and cases of listing and capital operations. I feel that in recent years, many local governments have gradually paid attention to the cultivation of listings. There are many training seminars. As long as you pay attention to the local financial offices, science and technology, industrial letters, small and medium-sized enterprises bureaus and other government departments, there are Activities in this area. In addition, companies can also contact some local intermediaries including: sponsor institutions (lead underwriters), securities business qualification accounting firms, law firms, securities business qualification asset assessment agencies (if needed), investment companies, etc. , evaluation, and cultivation. In addition, we have cooperated with Shenzhen Sunac Ventures Co., Ltd., and will carry out various activities such as popularization and consultation of listing knowledge, so that everyone is no stranger to the capital market. 3. Overcome the psychology that “the scale is still small and the strength is not enoughâ€. I often encounter some entrepreneurs who feel that their company has only one or two hundred million output value. The scale is really small and the strength is not enough. I feel that the listing is still early. But when I told them a few data, they still didn't believe it. For example, Henan Sifang has been listed as a hard material. When it began preparations for listing in 2007, it sold more than 57 million yuan, and its profit was only over 12 million. The performance of the listing price (2009), sales was only 84 million, profit. 30 million. Do you think it is a big company? But it does meet the hard and soft requirements I mentioned in the first quarter. Huajing diamond is slightly larger. When it is ready to go public, it will sell 90 million yuan, with a profit of 20 million, and no more than 200 million sales at the time of listing. The new Daxin material introduced into the venture capital began to prepare for listing in the year (2007), sales of 190 million, profit of 20 million, is not a big number, a high starting point. In addition, if you feel that the company is small, you can introduce venture capital or conduct some mergers and acquisitions to expand and expand yourself. Just like the framework media of the elevator advertising industry in the past, in just half a year, the acquisition and integration of six peer companies, and then sold together to the listed Focus Media Company, is equal to the listing. Through this case, we can see how the weak and scattered enterprises can instantly become giants, and then bargain with the larger giants, how to increase themselves by nearly twenty times in a year! It is through operation that it earns twenty times the profit every year. How clever! How wise! How profitable! 4. Overcome common hard injuries in the industry. In the process of our contact with some of the abrasives and abrasives companies, we have summarized some common problems in our abrasives and abrasives enterprises. We need everyone to pay attention to them in the development process of the enterprise. For example, there are no outstanding product or technical problems; for example, high pollution and high energy consumption; for example, insufficient intellectual property rights or unclear sources; such as financial irregularities and low taxation. 3. What kind of venture investors like Sunac can help the company? As a financial investor, a venture capital company does not require holding or participate in daily business management, which is different from industrial investors. However, in addition to investing money, venture capital companies will also do a lot of volunteer work, because everyone is already a family, investors must hope that the company will develop faster, better, and can be listed or acquired in the future to achieve it. The purpose of the exit. Here, we must insert a sentence, that is, the venture capital is the money that is withdrawn from the capital market, not the money that earns the dividend interest of the enterprise, so it is a win-win situation. Generally speaking, we have different stages in the enterprise and can match things in the enterprise stage. 1. For companies that are in the initial stage or in the growth stage but are not yet standardized, do the following: Help form or improve the company's governance structure, such as improving the incentive and restraint system such as the board of supervisors; help finding the industry or capital, finance, etc. Talents, strengthen management team, management structure; staff and help determine strategic direction; assist in improving financial management, control, legal structure; participate in company meetings on a regular basis; help companies equity financing and other aspects of financing; help expand business; help find business, Technical partners, etc. 2. For enterprises that have matured and standardized, in addition to doing the above, they also give priority to providing listing services for enterprises, such as: Helping the company to meet the detailed standards for listing as soon as possible; Helping enterprises choose the time and place for listing; It also assists enterprises in selecting listed intermediaries, coordinating the work of intermediaries; communicating and coordinating with regulatory agencies such as the CSRC; assisting in the search and identification of fund-raising investment projects; seeking target companies for mergers and acquisitions; and professional and technical services: such as follow-up financing. Financial advisory services, legal protection services such as patent protection, investment banking services such as mergers and acquisitions. In short, with the help of venture capital, companies can save a lot of heart, save a lot of time, and take less detours, which is a win-win situation. Therefore, if companies want to conduct listings or other capital operations, it is very important to find a VC with experience. Henan Xinda New Materials is a good example. Finally, come back to the listing of this matter. I have been working on this for more than a decade, and I have seen many companies with examples of success or failure, ups and downs. My feeling is that listing is like a person who wants to climb a mountain that has not climbed. Before he climbs, he always makes some embarrassment. There is no confidence to win. I don’t know what kind of obstacles there are. But in fact, countless successful people have proved that as long as the company's family members are confident and persevering, coupled with the strength of the team, the strength of our venture capitalists, the power of the government, the power of intermediaries and industry organizations, to achieve the listing target. It will not be a dream, step by step, and the summit is not out of reach, but the real Taishan Jade Emperor who can step on our feet!
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