chinext companies
With more than 800 ChiNext-listed companies trading at roughly 60 times earnings on average, compared with 38 for the Nasdaq .NDX, some market watchers warn of bubble risks. "The ChiNext … This article is now fully available for you, Please verify your e-mail to read this subscriber-only article in full. The move to liberalise ChiNext comes after the securities regulator on September 22 gave Segway-Ninebot, an electric-scooter maker, the nod to float on the tech-heavy Star Market in Shanghai, making it the first company to issue CDRs. In the guideline issued on Sunday, Beijing said the launch of the CDR programme would be among the major financial reforms to reinforce the city’s development. By registering, you agree to our T&C and Privacy Policy. As of 10/27/2020. “As the stock connect scheme has already linked up the two markets, listings in Shenzhen under the CDR programme will allow more international investors to invest in Shenzhen via Hong Kong,” he said. As of 10/27/2020. A version of this article appeared in the print edition of The Straits Times on August 25, 2020, with the headline 'Company shares soar on ChiNext debut under new IPO rules'.
SPH Digital News / Copyright © 2020 Singapore Press Holdings Ltd. Co. Regn. China's top securities regulator Yi Huiman reiterated yesterday that regulators will have "zero tolerance" towards market misbehaviour, but will not interfere with normal trading activities. Eighteen companies are set to debut on the Nasdaq-style ChiNext Board under the revised initial public offering (IPO) system on Monday. All rights reserved. Segway-Ninebot, which is expected to raise 2 billion yuan (US$296 million) by floating 70 million CDRs, is yet to issue the CDRs. This index offers exposure to small-to-medium capitalization companies trading on the Small and Medium Enterprise Board and the ChiNext Market of the Shenzhen Stock Exchange. Enditem, 010020070750000000000000011100001394658641. The gift link for this subscriber-only article has expired.
As at 31 August 2016, there were 531 companies listed on the ChiNext market, with an aggregate market capitalisation of RMB 5.32 trillion. Over the past two decades, hundreds of Chinese firms have used VIE structures to launch IPOs outside the mainland. Overview; Returns; Fund Flows; Expenses; Dividends; Holdings; Taxes ; Technicals; Analysis; Realtime Ratings; ETFs Tracking The SME … The SZSE ChiNext market was introduced on 23 October 2009. Trading restrictions will also be loosened. The 18 companies listed yesterday also include Contec Medical Systems, which jumped nearly 500 per cent in morning trading, and Chengdu Dahongli Machinery, which was up about 200 per cent. Lau added that the launch of CDRs in Shenzhen will not pose a threat to Hong Kong’s standing as a fundraising centre. Nicholas Kwan, director of research at Hong Kong Trade Development Council, said the announcement of the CDR programme ahead of President Xi’s visit to Shenzhen on Wednesday, reflects Beijing’s determination to develop Shenzhen as a major financial centre in the bay area. “The investing public does expect a flurry of solid companies to raise funds via the depositary receipt system,” said Ivan Li, a money manager at Shanghai-based Loyal Wealth Management. But with more than 800 ChiNext-listed companies trading at roughly 60 times earnings on average — compared with 38 for Nasdaq — some market watchers warn of bubble risks.
BEIJING, Oct. 25 (Xinhua) -- China's top securities regulator has allowed three companies to register for initial public offerings (IPOs) on the ChiNext, China's Nasdaq-style board of fast-growing enterprises. The initial proposal to establish a stock exchange for high-tech firms in China came in August 1999, which was a time when internet stocks were highly popular in the US. But, describing ChiNext as "a venue for speculation", Mr Hong said "falling stock prices, instead of rising, should be the sign of whether such market reform is successful". BEIJING, Oct. 25 (Xinhua) -- China's top securities regulator has allowed three companies to register for initial public offerings (IPOs) on the ChiNext, China's Nasdaq-style board of fast-growing enterprises. Get unlimited access to The Straits Times and more at S$ 0.99/month. The system facilitates companies with variable interest entity (VIE) structures to float shares on the mainland. ETFs Tracking Other Mutual Funds. Kelvin Lau, senior economist for Greater China at Standard Chartered. Segway-Ninebot, which is expected to raise 2 billion yuan (US$296 million) by floating 70 million CDRs, is yet to issue the CDRs. But a log-in is still required for our PDFs. Beijing has ramped up efforts to attract foreign-funded mainland tech firms to list on domestic stock exchanges by giving the go-ahead to the ChiNext market in Shenzhen for Chinese depositary receipts (CDRs). You can read this subscriber-only article in full, All done! In July last year, China embarked on the CDR mechanism to attract foreign-funded Chinese tech firms on the Star Market. said the launch of the CDR programme in Shenzhen will enhance the special economic zone’s role as a fundraising hub for start-ups. Stocks will trade without caps on the first five days of trading and will be capped at 20% gains or losses on subsequent days. Analysts said at that time Beijing would initially take a cautious stance in approving CDRs because a clutch of technical issues needed to be ironed out. The first batch of companies listed under the new IPO rule include Beijing FengShangShiJi Culture Media, digital equipment maker Shenzhen Jame Technology, and software maker Tansun Technology. We have been experiencing some problems with subscriber log-ins and apologise for the inconvenience caused. Share gift link below with your friends and family. Chinext will allow companies to go public if they satisfy one of the three sets of financial indicators, including one that specifies revenues and estimated market capitalization—meaning unprofitable companies are no longer excluded. However, the plans were shelved for a long time, potentially due to the burst of the dot-com bubble in 2000 and the lost confidence in internet and technology stocks. The Star Market, aimed to bolster China’s technological innovations amid worsening US-China relations, will allow VIE firms to issue CDRs to raise capital. For the latest news from the South China Morning Post download our mobile app. The move comes ahead of President Xi Jinping’s visit to Shenzhen on Wednesday to mark the 40th anniversary of the establishment of the special economic zone. "The ChiNext reform is a significant part of China's grand competition strategy with the US," wrote Mr Hong Hao, head of research at BOCOM International. “The document to encourage CDR issuance on the ChiNext market in Shenzhen is a good sign for investors.”. Foreign-funded Chinese companies can launch CDRs on Shenzhen’s ChiNext market. Of these listed companies, 70% are from the manufacturing industry and 18% are from the IT industry, which account for 61% and 23% of the aggregate market capitalisation respectively. ChiNext was finally inaugurated in Shenzhen on 23 October 2009. They can read the article in full after signing up for a free account. Mutual Fund to ETF Converter Tool. The technology-heavy ChiNext board was launched in 2009 at the Shenzhen Stock Exchange. The move to liberalise ChiNext comes after the securities regulator on September 22 gave Segway-Ninebot, an electric-scooter maker, the nod to float on the tech-heavy Star Market in Shanghai, making it the first company to issue CDRs. China introduced a series of measures in June to replace the approval-based IPO system with a registration-based one on the ChiNext. No. Kangping Technology (Suzhou) Co., Ltd., Zhongjing Food Co., Ltd., and Shenzhen Hui Chuang Da Technology Co., Ltd. will be listed on the Shenzhen Stock Exchange's ChiNext board, the China Securities Regulatory Commission said in a statement. Until we resolve the issues, subscribers need not log in to access ST Digital articles. Analysts said the introduction of the CDR scheme to the ChiNext market will boost Shenzhen’s stature. Get the latest insights and analysis from our Global Impact newsletter on the big stories originating in China. “The document to encourage CDR issuance on the ChiNext market in Shenzhen is a good sign for investors.” Foreign-funded Chinese companies can launch CDRs on Shenzhen’s ChiNext market. The biggest gainer among them, automotive cable maker Ningbo KBE Electrical Technology, jumped more than 500% in morning trading. Before the launch of the Star Market, foreign-funded mainland companies, particularly in the tech sector, were barred from listing shares on the Shanghai and Shenzhen stock exchanges. Of these listed companies, 70% are from the manufacturing industry and 18% are from the IT industry, which account for 61% and 23% of the aggregate market capitalisation respectively. 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Based on Shanghai's year-old Star Market, the broadening IPO reform will help strengthen the appeal of China's capital markets at a time when Chinese tech firms face growing US scrutiny and the risk of being delisted from US markets. The biggest gainer among them, automotive cable maker Ningbo KBE Electrical Technology, jumped more than 500 per cent in morning trading. The companies and their underwriters will confirm the IPO dates and publish their prospectuses following discussions with the stock exchange.
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