The Beijing Stock Exchange (hereinafter referred to as the “Beijing Stock Exchange”) officially opened its gong on November 15. On November 14, a reporter from Beijing Commercial Daily found on the scene that the plaque of the Beijing Stock Exchange had officially hung up, and “Beijing The “Stock Exchange Unveiling and Market Opening Ceremony” is also under preparation. According to the arrangement, there are a total of 81 companies listed in the first batch of CBEX, including 71 selected-tier companies that have shifted and 10 new stocks have been listed. It is reported that the average P/E ratio of the 10 new shares that will be listed on the Beijing Stock Exchange is 22.2 times.
The new plaque of the office building is installed
On November 15th, the Beijing Stock Exchange will officially open for trading. A total of 74 days from the announcement of the establishment of the Beijing Stock Exchange to the official opening, we have not only witnessed the “speed” of the Beijing Stock Exchange, but also witnessed the reform and development of my country’s multi-level capital market. Take a crucial step.
Today, the “New Business Card” of the Beijing Stock Exchange has also officially appeared. It is understood that at 9 o’clock in the morning on November 14th, in Beijing’s Financial Street, the office building of the Beijing Stock Exchange was undergoing house plate hoisting and welding. On the afternoon of November 14th, a reporter from Beijing Commercial Daily found at the scene that the plaque of the Beijing Stock Exchange had been installed in the office building of Beijing Financial Street.
In addition, a reporter from Beijing Commercial Daily found on the scene that inside the Beijing Stock Exchange office building, relevant staff are preparing for the “Beijing Stock Exchange Unveiling and Opening Ceremony.” The reporter also learned from relevant staff that the opening ceremony was held on November 15. However, related staff members expressed “unclear” regarding the related procedures of the ceremony.
In the view of Yang Delong, chief economist of Qianhai Kaiyuan, the Beijing Stock Exchange is mainly aimed at some technologically innovative companies, which will help my country’s economic transformation and technological development. The establishment of the Beijing Stock Exchange has attracted widespread market attention, and together with the Shanghai Stock Exchange and the Shenzhen Stock Exchange, it constitutes my country’s multi-level capital market. The opening of the Beijing Stock Exchange is a major event in the capital market, and it is also a milestone event in the capital market.
Zhou Yunnan, a senior NEEQ commentator and founder of Beijing Nanshan Investment, said in an interview with a reporter from Beijing Business Daily that the direct significance of the establishment of the Beijing Stock Exchange is to improve China’s multi-level capital market system and improve the misaligned development and interconnection of my country’s multi-level capital market. Interoperability, building a modern capital market with Chinese characteristics, helping innovative SMEs to leverage China’s multi-level capital market to achieve common prosperity, and efficiently solving the “trilemma” of innovative SMEs-financing difficulties, listing difficulties and exit difficulties.
Some companies prepare their own listing ceremony
The new members listed on November 15th attracted the most attention. According to Wind statistics, the 10 new stocks include Keda Automation, Henghe, Zhisheng Information, Tongxin Transmission, China Engineering Consulting, Zhonghuan, Hanxin Technology, Guangdao High-tech, Dadi Electric, and Jingsai Technology.
According to Wind statistics, according to the Wind industry, these 10 new stocks come from the most companies in the information technology field. The 6 shares of Keda Automation, Jingsai Technology, Guangdao High-tech, Hanxin Technology, Henghe Stock, and Zhisheng Information belong to the field of information technology, accounting for 60% of the 10 new shares.
Among them, Keda Automation’s main business is to apply the industrial Internet technology system to provide customers with mine data monitoring and automatic control systems, municipal data remote monitoring systems, automatic control related products and 365 on-site (line) automation technical services to solve customers’ concerns The main application areas for the needs of intelligent transformation and automatic control in the production process are mines, municipalities and other fields.
In response to issues related to the company’s future development, the relevant staff of the Secretary of the Board of Directors Office of Keda Automation said in an interview with reporters from Beijing Business Daily that “the public offering announcement shall prevail.”
In addition, the relevant staff of the Secretary of the Board of Directors Office of Keda Automation also told reporters, “We have also received a notice from the Beijing Stock Exchange about the opening ceremony. Due to the epidemic, we cannot participate in the opening ceremony at the Beijing Stock Exchange, but we are here. Bian will also broadcast the Beijing Stock Exchange’s bell ringing ceremony online simultaneously, and we will also prepare the listing ceremony on our own.”
Three shares of China Engineering Consulting, Zhonghuan, and Dadi Electric are companies in the industrial field. Concentric Transmission is an enterprise in the optional consumer sector, and it is also the only optional consumer stock among the 10 new stocks.
According to Tongxin Transmission’s public issuance of shares to unspecified qualified investors and listing on the Beijing Stock Exchange, the company’s industry is automotive parts and accessories manufacturing, mainly engaged in the research and development and production of automotive drive shafts and related parts. And sales, the main products include non-constant speed drive shaft assembly and related parts.
Average issuance price-earnings ratio of 22.2 times
Issue prices and issue price-earnings ratios have also received attention.
According to Wind data, among these 10 new stocks, the initial price of 5 shares of Jingsai Technology, Hanxin Technology, Zhonghuan, Keda Automation, and Guangdao High-tech are all over 10 yuan, of which Jingsai Technology’s price is 18.32 yuan per share. The initial price ranks first among 10 shares. In contrast, the starting price of Concentric Transmission was “bottom” among the 10 shares, at 3.95 yuan per share.
According to Wind statistics, the average issuance price-earnings ratio of these 10 shares is about 22.2 times. In terms of individual stocks, Keda Controls, Jingsai Technology, and China Engineering Consulting have all issued P/E ratios above the average. Among them, Keda Controls has an issuance P/E ratio of 47.08 times, which is the stock with the highest P/E ratio among the 10 shares.
The data shows that the issuance price-earnings ratio of Jingsai Technology and China Engineering Consulting is 32.1 times and 28.2 times. In addition, the P/E ratios of 6 shares of Henghe, Zhisheng Information, Tongxin Transmission, Zhonghuan, Guangdao Hi-tech, and Dadi Electric are all lower than 20 times, and Zhisheng Information’s issuance P/E ratio is the lowest among the 10 shares. Wind data shows that the initial price of Zhisheng Information is 6.8 yuan per share, and the corresponding price-earnings ratio is 11.3 times.
It is worth mentioning that, unlike the Main Board, Science and Technology Innovation Board, and ChiNext, listed companies on the Beijing Stock Exchange do not set a price increase or decrease on the first day of listing. From the next day, a 30% price increase or decrease limit will be implemented; The price rises or falls for the first time by reaching or exceeding 30%, 60%, and trading is suspended for 10 minutes in a single session.
Yang Delong also mentioned that for ordinary investors, they should be cautious when participating in CBEX transactions, because these companies as a whole are companies in the growth stage, with higher investment risks and higher future growth expectations. If ordinary investors do not have professional research capabilities and a certain degree of risk tolerance, they must carefully participate and grasp the principles of diversified investment and total capital control. They should not invest heavily in a company to prevent excessive concentration of risks.
Beijing Commercial Daily reporter Liu Fengru Return to Sohu to see more
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