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Whether the IPO was Enterprise 50% due to financial problems

On Saturday, the Chengdu business daily, daily economic news, Chongqing morning news, China business news and other mainstream media, and • Repulse Bay Co-sponsored "2012 enterprises listing and financing in West China Summit" held in Chengdu, a total of from Guangxi, Chongqing, Sichuan and other Western provinces and autonomous regions, over more than 130 business representatives attended. Guangfa Securities Investment Bank Assistant General Manager Hu Jinquan said in keynote speech at the Summit, according to their statistics, since 2006 Enterprise IPO rejected, 50% all because of financial problems.
West Enterprise IPO accounted for than still smaller "2012 China West Enterprise listed financing Summit" not only invited to has SSE Venture Board Company Management Department Deputy Director Zou Xiong, and State letter accountants firm senior registered accountants h.w. Hu, and GF securities investment banking headquarters General Manager Assistant Hu Jinquan, and Shanghai run statements investment advisory limited General Manager Lian Chunhui and tahota lawyer firm, and Chengdu city financial do, and Leshan city financial do, institutions related head attended, also get has built sent • Repulse Bay of vigorously support.
Chengdu commercial daily news from the Summit was informed that the 2011 SFC supports Western corporate finance 78.068 billion yuan, which approved IPO18 to raise capital of 15.497 billion yuan; approval refinance 49, raised 62.571 billion yuan. However, the Western region enterprises in the capital market share is still small. In 2011, the Western enterprises IPO raised relative to the financing of the whole society, to 5.48% per cent. Proposed Board, gem, such as applying for IPO companies a total of 683, West of which is 66, only 9.66%.
in view of this, the SFC has issued encouraging policies, priority audit of 12 provinces and autonomous regions in West China enterprises IPO applications. Sichuan province a total of 90 listed companies currently, Shenzhen company number of 3.6%, tentatively in the Western Highlands. As of September 7, 2012, the Sichuan SME Board and the number of companies listed on the gem in 12 Western provinces and autonomous regions in the top proportion of 35% and 28%, respectively.
avoid excessive packaging enterprises growth Summit, participants said, when auditing enterprises IPO, will always find problems common such as qualification, independence, ongoing profitability, corporate governance, and standard operation, raise funds, disclosure of information, finance and accounting, and so on. Hu Jinquan, with respect, since 2006 IPO failed, reason, 50% because of financial problems.
Hu Jinquan provide an important data, in the 2006-2011 years and 6 years, there were 1051 companies approved, 231 is not, 292 to withdraw, "practical examination pass rate for 66.77% and two-thirds. "
for failed enterprise, they rejected the causes were analyzed and summarized. Among them, the financial audit of the accounts for about half of this company's financial data, and the prospectus fails to give a reasonable explanation, "for example, profitability significantly higher than comparable levels, corporate inventory increased significantly during the reporting period, between the company and major supplier of the purchase price is not reasonable. ” BACK